Excluding Obamacare and the “Harsh Winter,” Q1 GDP Tumbled -1.4%

Signs That Something Broke in Late 2014, Spilling into 2015

From Zero Hedge:

Q1GDPIt is somewhat ironic that even as reporters posing as economists, reporters posing as reporters, and even the U.S. department of truth and failed weathermen posing as the Bureau of Economic Analysis decided to blame the “harsh winter” for the collapse in GDP, according to the BEA’s own GDP report, real Q1 GDP, which printed at -0.2%, actually benefited from the cold weather as a result of Utilities adding 0.59% to the bottom line GDP in the quarter.

But wait, because if it weren’t for that now traditional “contributor” to the U.S. economy, the mandatory tax, better known as Obamacare, and which was the primary contributor to the 0.62% in healthcare contribution to GDP, Q1 GDP would have tumbled by a consolidated -1.4%.

Here is the link from Zero Hedge for the entire article: http://www.zerohedge.com/news/2015-06-24/excluding-obamacare-and-harsh-winter-q1-gdp-tumbled-14.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.