Friday, June 25, 2004
So It Wasn't Our Imagination
The economy really does suck....
US slashes first-quarter growth, inflation higher:
WASHINGTON, June 25 (Reuters) - The U.S. economy grew much more slowly than previously thought in the first quarter while inflation was higher, a government report showed on Friday.Terror attacks at a revised 20 year high, rather than "slashed" because of our brave president's "good on terror" war... what next?
The surprise [ed. really? that surprises me] downward revision to gross domestic product -- which measures total output within the nation's borders -- cut growth to a 3.9 percent annual rate in the first three months of 2004 from the 4.4 percent reported a month ago and below the 4.1 percent pace in the final quarter of last year.
The government also ratcheted up a key gauge of inflation, confirming an acceleration in price rises that has fueled expectations the Federal Reserve will begin raising interest rates from 1958 lows next week to head off inflation.
Headline saying "Consumer Confidence Climbs in June" leaving out the subhead which reads "Because They Know Bush's Days Are Numbered"?
Good morning. Temperature fell into the 40s last night, so was perfect sleeping weather. Am amazed I'm out of bed and blogging already. Figured I should get a little exercise on my coffee run before gorging myself full of extra-butter movie popcorn and Raisinettes (spelling doesn't look right.... however, if I spell-check will likely get some hilarious suggestion -- I always get "flogging" as a suggestion for "blogging", often quite apt). Neglected to get a ticket to Fahrenheit 9/11 in advance, so not sure I'll be able to get into the show of my choice.
So looks to be a sparkling day all round. Will be back later with my Siskel and Ebert report, and perhaps, if you're lucky, more art.
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