U.S. GDP for the second quarter of 2011 is stagnating at 1.3%.   U.S. leaders and main stream media continue to call it “growth”.  What’s really sad is that the “experts” expected the GDP to be higher.

On top of that, the first quarter results were revised, no surprise, downward from 1.9% to 0.4%!  It’s amazing how for the past few years economic reports have been revised downward a month or more after they’ve been released.  So is the second quarter GDP of 1.3% going to be revised downward?  I wouldn’t be surprised if it’s revised downward to a negative percent.