Donald Douglas @ American Power:
The economy’s shrinking and the Democrats are doing everything else besides working to fix it. That’s not what we were promised during the campaign, but you already knew that. And that’s Rick Santelli at the clip below, ranting away like only he knows how, apparently. As noted, I feel that populist insurrection rising, and it’s not just over the libelous gun control narrative. The permanent political class is systemically worsening economic conditions to further cement its grip on power. Think about it.
At the Wall Street Journal, “U.S. Economy Unexpectedly Contracts in Fourth Quarter”:
U.S. economic momentum screeched to a halt in the final months of 2012, as lawmakers’ struggle to reach a deal on tax increases and budget cuts likely led businesses to pare inventories and the government to cut spending.
The nation’s gross domestic product shrank for the first time in 3 1/2 years during the fourth quarter, declining at an annual rate of 0.1% between October and December, the Commerce Department said Wednesday.
It was the first time the broad measure of all goods and services produced by the economy contracted since the recovery from the financial crisis began. Economists surveyed by Dow Jones Newswires had expected 1.0% annualized growth.