Dialed It Back

First quarter GDP numbers have been....wait for it...officially revised downward.  There's a shocker.

In its final estimate, the Commerce Department said gross domestic product expanded at a 2.7 percent annual rate instead of the 3 percent pace it reported last month.

Although the growth pace was below market expectations for a 3 percent rate, it still marked three straight quarters of expansion as the economy digs out of its most brutal downturn since the 1930s. 

However, recent data have suggested the recovery lost some momentum in the second quarter, with persistently high unemployment restraining consumer spending, and home building and purchases faltering. 

The Federal Reserve this week struck a cautious note on the economy and said the recovery was "proceeding." The economy is, however, not expected to fall back into recession. 

Nobody expects a recession, unless you're an objective viewer.  Apparently even more than Star Trek teleporters, economics is subject to large levels of Heisenberg uncertainty, particularly US macroeconomics.  All of that is subject to and affected by being observed.

Schrodinger's economy?  Maybe.  What I do know is that every time something bad happens in this economy, it's "unexpected".  You know, even though it happens constantly.

It's almost like the Happy Face Financial Media has no clue what they are saying.  Imagine that.