Obama GDP Drops -0.7%… Recession Coming?

released its revised economic report for the first quarter of 2015 – and in a “surprising” and “unexpected” twist (surprising and unexpected only because Barack Obama is president and the media are constantly surprised that the Sun God cannot rain gold from the heavens), the GDP dropped -0.7%.

As Zero Hedge points out, the contraction isn’t because of the rain and the snow and the sleet, as the Obama administration is wont to blame. Rather, “Consumption rose just 1.8%, below the 2.0% expected, and contributed just 1.23% of the bottom...