Fiscally nuts. Socially insane.

Wednesday, April 30, 2008

Some First Quarter Quotes

I'm finding it quite amusing to look at the different takes on the 1st quarter's slow start.

BreitbartMany analysts were predicting that the gross domestic product (GDP) would weaken a bit more—to a pace of just 0.5 percent—in the first quarter. Earlier this year, some economists thought the economy would actually lurch into reverse during the opening quarter.

NYTThe weak performance reflected the increasingly thrifty inclinations of American consumers in the face of plummeting real estate prices, tightening credit and a deteriorating job market. Economic growth was also hampered by a continued pullback in construction and business investment.

Drudge isn't worried, as usual.

CNNThe nation's economy continued its sluggish growth in the first quarter, according to a government report Wednesday that showed a slightly better-than-expected gain in economic activity...  The most common definition of a recession is two consecutive quarters in which GDP is negative, although the official designation of an economic downturn is based on broader measures as determined by the National Bureau of Economic Research.

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