While the U.S. Bureau of Economic Analysis (BEA) reported a robust 4.3% annual increase in third-quarter real gross domestic product (GDP) on Tuesday, economist David Rosenberg is calling the headline number a “fugazi.” The ‘Fugazi’ Factor The president of Rosenberg Research argues that underlying economic weakness is being masked by government spending and depleted savings, calculating “true” growth at a meager 0.8%. The official BEA release shows widespread gains, with real GDP accelerating fr
These aren’t horseshoes for horses, they’re magic horseshoes for good luck. You’re supposed to hang them on your door!
Where’s the growth? As far as I’m concerned, $100 of iron just got wasted, nevermind all the labor that also was wasted.
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