Real gross domestic product -- the value of the production of goods and services in the United States, adjusted for price changes -- increased at an annual rate of 2.3 percent in the second quarter of 2015, according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.6 percent (revised).The BEA jokers say "Real" GDP is up 2.3%. But they use a previous inflated GDP to deflate the current GDP. How can something currently inflated be deflated by something also inflated?
How does that work? It doesn't. It can't, ever.
Meanwhile, true GDP as measured in True Dollars™, which is the only legitimate way to account for inflation, has declined yet again. Year over year, true GDP is down -4.4%. Quarter over quarter, true GDP is down -1.8%.
The Greatest Depression continues, first brought to you by the Greenspan-Bernanke Great Inflation, the greatest credit bubble in the history of mankind, followed by the Bernanke-Yellen Quantitative Easing, the greatest capital killer in the history of mankind.
Since Q1 1959, this is the state of economy with respect to quarters up or down and streaks of true growth or true decline.
The USA economy has never been this bad for this long since 1959. Why should anyone expect anything else? Americans experienced the greatest inflation — rise in bank credit — in the history of mankind between 1994 and 1997. Americans have been experiencing reckoning ever since.
GDP is now down -6.3% below the Bill Clinton Q1 1994 low. OBAMA AND HIS CONGRESSES HAVE STEERED AMERICA INTO A 1975 FORD ERA ECONOMY.