Posted on July 31st, 2008 in Daily Stock Market / Economic News - The Real Story, Mr Mortgage's Personal Opinions/Research
from someone much smarter than I. -Best Mr Mortgage
The GDP Price Index inexplicably tanked to 1.1% in Q2; 2.4% was expected.
Nominal GDP declined to 3% from Q1’s 3.5%. Government beancounters boosted ‘real’ GDP by 1.5 percentage points by collapsing the GDP Price Index to 1.1% from Q1’s 2.6%.
Q2 might be the inflation peak, with food and energy prices soaring; yet the US government wants people to believe that the GDP Price Index tanked to 1.1% from 2.6%!!!!!