The U.S. economy stalled in the first three months of 2014 "growing" at a dismal 0.1% annual pace. "Don't panic," say consensus economists, "it's probably just the winter weather."
We know what we think, but we wanted to get your opinion in our poll of the day: Do you think the U.S. economy is getting better or worse?
At the time of this post, 71% agreed that it’s getting WORSE; 29% said BETTER.
Believing that the economy is getting WORSE, voters largely pointed fingers at the Fed:
- “The real economy is getting crushed by the inflation that ‘doesn't exist.’ If the economy was really improving, the Keynesian demagogues wouldn't have to cheerlead so hard to convince everyone.”
- “The market is where it is because of the FED, as they keep tapering the market will crack, they will then come back and confidence will be shot!”
- “Consumer spending and borrowing will not come back for real until there are structural changes in this country to support job growth and keep real inflation under control.”
- “I don't care what the stats/Fed/academics say about economy. If you don't see inflation accelerating across the broad in your daily living expenses, then you really have been living under a rock. Inflation slows growth = Fact.”
However, those who said the economy was getting BETTER noted these signs in contrast:
- “Consumer spending, which accounts for roughly two-thirds of the economy, finally seems like it's picking up again.”
- “Exports continue at a record pace and that's good for an economy in transition back to more manufacturing based economy.”
- “A lot of stats look weak right now, but the Fed looks like they will actually prolong the taper. If they really shut down the printing press, the economy will finally be able to stabilize. It’s a longer term view - for the next quarter or two, things could suck wind and the equities market will probably correct - in this context a correction could be a harbinger of a stronger economy.”