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Q2 2015 GDP FIRST REVISION. THE FICTION OF 3.7% "REAL" ANNUAL GDP GROWTH

Minions at the Bureau of Economic Analysis claim that real gross domestic product is now growing at an annual rate of 3.7% as measured in Q2 2015 after a statistical revision from a number published a month ago. Their claim is pure fiction.

These minions deflate current GDP using a past inflated GDP. Ask yourself, how could that work, logically?

True GDP expressed in True Dollars™ tells an altogether different story. As you can see in the chart, True GDP is down -1.5% for the quarter and -4.4% year over year. Note: Since the charts are active, the numbers on the charts can change from the commentary above.




The only growth to be seen is growth in inventories. No one should want a growth in their inventories in a just-in-time world.

Mark my words. Black Friday is going to expose all of the phony numbers published by agencies of Congress, like the Commerce Department's BEA. In True Dollars™, total consumer credit relative to disposable personal income is too high. I shared the chart for that with you in THERE STILL IS NOT A RECOVERY SEVEN YEARS LATER. HERE IS WHY, PARTLY.





Americans continue to live in the Greatest Depression. Likely, there is world wide depression as the Chinese have now entered recession as I have shared in Q2 2015 CHINESE GDP REVEALS THE CHINESE ECONOMY IS SHRINKING. THE CHINA MIRACLE HAS COME TO AN END.






To comment about this story or work of the True Dollar Journal, you can @ me through the Fediverse. You can find me @johngritt@freespeechextremist.com

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