Saturday, December 27, 2014

What to remember when you see those social-media posts about the economy starting to rock

This post at Powerline is somewhat lengthy and full of lengthy, wonky excerpts and graphs, but the upshot is that the much-touted Q3 5% percent annual growth rate is due to the Bureau of Economic Analysis picking the most favorable quarter for adding Freedom-Hater-care's costs to "personal consumption," which would give that quarter a boost that financial services & insurance, nondurable goods, cars & car parts, recreational goods & vehicles, housing & utilities, other durable goods, and furnishings & household equipment couldn't hope to contribute.

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