The numbers show the ‘growth’ was 0.6% for the quarter, indexed in dollars. But they do not show that the dollar is down from 0.679 Euros in January to 0.634 Euros in April. If our quarterly growth was indexed in Euros it would show a contraction of 6.1%.
If our quarterly growth was indexed in oil, it would show a contraction of around 20%.
Even at gold-$850, if our quarterly growth was indexed in gold, it would show a contraction of 5.4%.
The economy is shrinking.
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