Did you hear the news this morning that initial jobless claims have hit a new low? Well, that’s because they estimated the numbers from three big states. What a convenient distraction from the real news.
If there was any debate whether the Fed’s policies have helped the economy or just the market (and specifically the Bernanke-targeted Russell 2000), the following two charts will end any and all debate. As the following chart from the St Louis Fed shows, as of the just completed quarter, US GDP “growth” since the “recovery” is now the worst in US history, having just dipped below the heretofore lowest on record.
Here’s the chart.
The only people experiencing a nice recovery are the 1% the Democrats love to bash in public. Funny, huh?