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10/30/09

No, CNN the Stimulus is NOT Working! We are still in Recession

CNN: Economy finally back in gear

This is one of many headlines that falsely proclaims the alleged 3% GDP growth signals the end of our economic depression. The National Business Report claimed US recession ends. But the Associated Press even admitted that spending sharply decreased, which directly contradicts CNN's report.

AP noted that stocks fell today because of the spending report. Equities Magazine ran the headline: GDP at 3.5% in Q3 Does Not Mark the End of Recession

The GDP numbers themselves are PHONY:


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1 comment:

Anonymous said...

The only thing that may have actually contributed to this percentage gain in any significant way was a tax CREDIT! I bet CNN didn't mention that. Then again, why would they? They still think that giving future generations insurmountable debt is the solution.