US Economy Slows In Second Quarter

Revolución 6:5,6 NCV Cuando el Cordero abrió el tercer sello, Oí al tercer ser viviente que decía:, "Venir!" Miré, y he aquí un caballo negro, y su jinete llevaba una balanza en la mano. Entonces oí algo que sonaba como una voz que viene desde el medio de los cuatro seres vivientes. La voz dijo:, "Un litro de trigo por un día de salario, y seis libras de cebada por un día de salario, y no dañes el aceite de oliva y el vino!"

“We are in love with money, and we worship at the altar of materialism.”

-Jim Bakker en "la prosperidad y el apocalipsis"

A drop in consumer spending resulted in the US economy growth slowing to an annual rate of 1.5% according to the Commerce Department. That’s down almost a full percentage point from the first quarter of the year.

The Commerce Department also put some of the blame on an increase in imports during the same time period.

“As campaigning [for President] gets serious, the economy is losing momentum not gaining,” Mark Gregory of the BBC reported. “That’s bad news for President Obama’s chances of hanging onto his job in November.”

Last month, the US Federal Reserve cut its forecast for economic growth by half a percent.

Analysts tried to put as positive a spin on the news as possible.

"[The number] is a bit better than expected,” Peter Cardillo of Rockwell Global Capital said, “but still the consumption is weak.”

 

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