The Bureau of Economic Analysis (BEA) announced Wednesday that real gross domestic product (GDP), the total output of goods and services in the U.S, for the fourth quarter of 2012 was -0.1 percent, the first negative print since December, 2009.
And you better believe CNBC’s Rick Santelli — the one credited with fueling the start of the Tea Party — had something to say about today’s report.
“We have become Europe,” he shouted at his colleagues.
“When you act like Europe, you get growth rates like Europe,” he added. “Our discussions with economists sound like we’re in Europe. They’re always doing the right thing. They’re always thinking they know better, and this the kind of growth.”
“We have become Europe,” Santelli continued. “We are now Europe.”
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