Author Topic: Gary Shilling: “Q2 GDP Was Closer To 1% Than To 3%. It Could Even Be A Negative Number”  (Read 261 times)

0 Members and 1 Guest are viewing this topic.

Offline rangerrebew

  • America defending Veteran
  • TBR Contributor
  • Hero Member
  • *****
  • Posts: 50,425
  • “It’s easier to fool people than to convince them
Gary Shilling: “Q2 GDP Was Closer To 1% Than To 3%. It Could Even Be A Negative Number”

Posted on July 28, 2014 by Paul
 

X22 Report

This week, in the aftermath of the Q1 -2.9% GDP disaster, the biggest “non-recessionary” drop in 67 years which was blamed on harsh weather (because there have never been harsh winters in the past 67 years), we get the first glimpse of what Q2 GDP was in the US economy. It is expected to print just shy of 3%. However, one person disagrees: Gary Shilling believes that not only will Q2 GDP be closer to 1% than to 3%, there is a fairly good chance it could be negative, which of course would mean that the US economy has officially entered a recession. 

Shilling’s take:

Special Report: No Spring Thaw

The consensus of economists looks for second quarter real GDP growth, which will be released July 30, of 3% vs. the first quarter at annual rates. It believes the 2.9% drop in the first quarter was cold weather-driven, and a rebound in the second quarter is the prelude to 3%-plus growth in the second half of the year. As in the last several years, the herd is likely to be disappointed.

http://x22report.com/gary-shilling-q2-gdp-was-closer-to-1-than-to-3-it-could-even-be-a-negative-number/
America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. Abraham Lincoln

Nearly all men can stand adversity, but if you want to test a man's character, give him power. Abraham Lincoln

Be sure you put your feet in the right place, then stand firm. Abraham Lincoln


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf