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Final Q1 GDP Crashes To -2.9%, Lowest Since 2009, Far Below The Worst Expectations

YES – Negative GDP = Contraction

Remember when in January 2014, Q1 GDP was expected to rise 2.6%? Well, here comes the final Q1 GDP revision and it’s a doozy: at -2.9%, far below the -1.8% expected and well below the -1.0% second revision, it is an absolute disaster, and is the worst print since Q1 2009.

And while a bad GDP print was largely expected, the driver wasn’t personal consumption expenditures somehow crashed from 3.1% to just 1.0%, far below the 2.4% expected, meaning that all hope of a consumer recovery is dead. Finally, as a reminder, US GDP has never fallen more than 1.5% except during or just before an NBER-defined recession since quarterly GDP records began in 1947. Good luck Department of Truth Propaganda Machine…..

• source: zerohedge.com

Stocks Surge Most In A Week On Worst Economic Data In 5 Years

Just imagine how strong the rally would have been if US GDP had contracted by 5%? The early weakness in US equities was instantly dismissed the moment US stock markets opened for trading to the general algo public (and POMO began to be disseminated).

This is the worst “non-recessionary” quarter of growth in 60 years!!!

• source: zerohedge.com

So with the consistent barrage of real actual poor economic data how does the mainstream media consistently put a positive spin on the economy and paint a rosy picture of recovery. The simple answer is with the help of manipulated markets and phony government numbers.

Macro Analytics – Mysterious Buying

In the following interview with John Rubino, Gordon T. Long of Macro Analytics discusses the outright sleight-of-hand manipulation of the markets behind the smoke & mirrors illusion of the unRecovery.

These are not “conspiracy theories”, they use real numbers and data to look behind the curtain for the real truth. All presented with slides and graphs.

……….and the following day, I found Mr. Long being interview by Greg Hunter of USAWatchdog.com

Iraq About US Dollar, Hyperinflation Trouble in 2015-Gordon Long

Mr. Long contends, “I think 2008 was an early warning signal of the magnitude of the problem. We didn’t fix it. We did extend and pretend. Dodd-Frank did not solve the underlying issues. The global swaps market went from $600 trillion to $700 trillion last year, alone. We’ve watched the shadow banking system push through $72 trillion. So, we didn’t stop it. We just, in fact, inflamed it even worse, and we got into even riskier kinds of assets.”

“Don’t underestimate the central bankers and the politicians’ ability to kick the can down the road.”

But the big core issue here is the petrodollar. It’s not about oil and it’s not about gas. It’s about what it is bought and paid for in, and that is U.S. dollars.

• more from Greg Hunter at usawatchdog.com

OZ

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