Consumer spending accounts for 68% of GDP. It seems the only thing keeping GDP going is Obamacare. You remember, the plan that wouldn’t add one dime to the deficit and would REDUCE healthcare premiums by $2,500 per family per year. It seems Obama and his minions may have miscalculated by a smidge. Any gasoline savings you may have gotten over the last few months are just a drop in the bucket versus the massive increase in your healthcare costs.
If we didn’t have Obamacare and the military industrial complex conducting wars around the globe, GDP would be negative. Maybe that explains why wage increases fell in the 4th quarter, despite the supposedly booming jobs growth. Wages always stagnate when the jobs market is strong and the unemployment rate is 5.6%. Right?
But, don’t you worry. Jamie Dimon is getting a big pay raise after his upstanding organization has paid $50 billion in fines for their criminal activities over the last few years.
There is nothing like not working, while the working stiffs pay for your healthcare, that just makes people happy. How else can you explain the highest level of consumer confidence since 2004?
Slimey John McCain has the nerve to call someone low -life scum. sheesh….I would think that would be a good description of all those who keep putting this baby killing ,bankster owned POS back in office year after year.
RES!
http://www.zerohedge.com/news/2015-01-30/john-mccain-threatens-anti-kissinger-protesters-arrest-calls-them-low-life-scum
So, I see food and beverage is in the negative. So much for all those server/bartender jobs.
I went thru Midland-Odessa the other day Steph. The bars and eateries were rocking on a monday night. So much for the low price of fuel creating layoffs myth.