Friday, July 31, 2009

1st quarter worse than expected, but media lies

1st Quarter GDP numbers were revised downward from -5.5% to -6.4%. This means that the economy did worse than previously thought. So how did the media report this?

NY Times- US Economy shrank less than expected in quarter

Obama: Economy has stepped away from precipice

Dollar falls versus Euro as US economy shrinks at slower pace

Well apparently the europeans and asians actually read the first page of the report instead of listening to the US media.

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