American Economy shows signs of slowing as Americans cut back spending. Is the "Recovery" over?
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WASHINGTON (AP) — The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.
The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.
Growth at or below 2 percent isn't enough to lower the unemployment rate, which was 8.2 percent last month. And most economists don't expect growth to pick up much in the second half of the year. Europe's financial crisis and a looming budget crisis in the U.S. are expected to slow business investment further.
Read More: http://www.huffingtonpost.com/2012/07/27/us-econom...
IT IS AS NEAR AS FROM EARTH TO NEPTUNE,
LET ALONE IT'S OVER!
We are in the midst of the worst economy since the great depression of the 1930’s. The “real” unemployment continues at almost 15% and shows no tendency toward improvement at all. With the numbers at these levels continuing for almost four years the personal wealth of the people is in serious decline, with less wealth available to purchase goods and services, the providers of those goods and services necessarily have to cut back on production which means they have to lay off more and more employees thus adding to the unemployment problems, thus adding to the lowered purchasing power of the people which then spirals down to lower production and more unemployment.
The current Administration’s answer is to borrow more money from China and use it to hire more teachers and police and firefighters. Doing absolutely nothing to correct the real problems, at the same time they are blocking the development of American energy production. They throw out the canard of the environment as a reason to not develop the oil, gas and coal industries in America. I ask what kind of environment are they willing to accept? Bread lines as long as one can see, a devalued currency that cannot sustain any sort of purchasing power at all?
He is standing on the supply hose of any recovery.
He has to go.
Never has been any real recovery.
http://www.usdebtclock.org