What blows my mind is another article I read, said the stock market shook off the news, because economists are forecasting 3% growth the rest of the year.
I always follow the velocity of money through the economy. It basically shows how often money is used in the economy. In a healthy economy a hypothetical dollar will be used time and time again. For example you buy something at the store, the store uses that money to buy new supplies, the supplier uses it to buy what they need.
Unfortunately, the velocity of money is dropping like a rock. That means the economy is slowing down, not picking up.
The MSM continues to talk about the economy growing. The alternative media says we are headed down. The average person shakes his head and tries to spread his money as far as possible. Food goes up, gas goes up, but we still hear that inflation is coexistent or at the very least under control.
How are they going to explain away a drop in the second quarter if one happens.