So the economy grew 3.5 percent in the 4th quarter. Sounds good but the jury's still out on how exactly the economy did for the low and middle class, especially since:
"That’s even more impressive considering the economy was hit by the housing slump. Investment in home building for all of last year was slashed by 4.2 percent, the most in 15 years.
GDP measures the value of all goods and services produced within the United States and is the best barometer of the country’s economic standing.
“Housing and autos hit the economy with their best punch, and the economy is still standing. It is dancing,” said Stuart Hoffman, chief economist at PNC Financial Services Group."
As I've mentioned before, the "science" of economics seems so mysterious that I wonder if Greenspan got his degree from Hogwarts. My only indicator of economic strength is how many gifts are given to me around Christmas. I made out like a bandit, so I guess it can't be all that bad.
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