http://usawatchdog.com/fed-laundering… -
On the steep drop in GDP growth of a paltry .1% in the first quarter,
Dr. Paul Craig Roberts says, “What I find most amusing about this is
they had to claim some real growth in the first quarter; so, they eked
out .1%. Now we know they got that by rigging the inflation number they
used to deflate the gross domestic product (GDP). The real GDP in the
first quarter, properly deflated, was negative and probably also in the
fourth quarter. Most likely, this coming quarter, they are not going to
be able to hide the fact that it is negative. . . . I am convinced the
first quarter was negative, and I don’t see how it could possibly go
positive in the second quarter.”On Fed Head Janet Yellen’s rosy
outlook on the economy, Dr. Roberts, who holds a PhD in economics,
debates, “I don’t see how she can see that the economy is going to start
growing. What is going to make it grow? Why should investors invest
money when consumers don’t have any money? There are not retail sales. I
think it is just part of the rah, rah talk. Everywhere else in the
world is going down the tube. So, what’s going to push the American
economy up?–Nothing that I know of.”Join Greg Hunter of USAWatchdog.com as he goes One-on-One with former Assistant Treasury Secretary Dr. Paul Craig Roberts.
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