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May 7, 2014

U.S. Economy: More Bad News Arrived Recently

"More bad news arrived recently with the release of first quarter GDP numbers, which showed the economy "growing" at a glacial .1% annualized over the first quarter. The results stand in stark contrast to the optimistic forecasts that continue to hold sway on Wall Street. According to Bloomberg's April Survey, a consensus of economists expect the US GDP to expand 2.7% in 2014. But so far the horse has stumbled badly from the gate. Just to reach the consensus estimate for the year, the economy would have to average 3.5% annualized growth over the remaining three quarters of the year. The odds of that are slim to none, and Slim has just dropped out of the workforce." - in Schiff Radio

You can keep reading Peter Schiff`s market updates and commentary on this new website: Schiff On The Markets (click on the link or on the image below to access the new site)



Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse. Visit the new website Schiff On The Markets for exclusive content.
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