Former Democratic National Committee Chairman Howard Dean on Monday delivered some startling news: despite everything that’s going on right now in the U.S. economy, we’re actually doing pretty awesome.
“Our economy is getting stronger. It may not be going fast enough, but by every measure our economy is getting stronger,” he said during a CNBC interview.
Of course, the facts beg to differ.
“A new analysis by Nicholas Colas, the chief market strategist at CovergEx in New York, reports corporate earnings estimates have dropped to levels below inflation and commensurate with 2008,” the Washington Free Beacon notes.
“The Philadelphia Federal Reserve’s business activity index, which is considered a measure of mid-Atlantic manufacturing, contracted for the second consecutive month, at a rate worse than predicted,” the report adds.
And then there was that 34K spike in Initial jobless claims we told you about last week.
“Existing home sales declined 5.4 percent in June from a month earlier–the weakest numbers since October 2011,” WFB reports.
“Earlier this month, the International Monetary Fund and JPMorgan revised their growth projections down,” the report adds.
So, yeah, we’re not entirely sure what Mr. Dean is talking about.
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