The optimistic folks at Business Insider assure us that the unexpectedly bad number for the US fourth quarter hides some good news:
People will be stunned to see that today’s GDP report went negative for Q4… the first negative print since The Great Recession.
But the report isn’t that bad. In fact it was arguably good.
For one thing, most of the collapse was due to a stunning fall in military spending. That’s not good for GDP, but it doesn’t reflect the real underlying strength of the economy.
And it’s mostly due to war drawdown. That’s a good thing for everyone!
