Thursday, May 1, 2014


The economy turned in another disappointing quarterly performance, surprising even the most pessimistic observers as growth in the first three months of 2014 slowed to a near-standstill. In their initial estimate for growth in the months of January, February and March, government statisticians said output expanded at an annual rate of just 0.1 percent.


And yet...

The Dow Jones Industrial Average, which has been slowly climbing for several days, closed unofficially 45 points higher at 16,580.84, eclipsing its record high close of 16,576.66, last Dec. 31.  Who would imagine we would get a first-quarter GDP print so disappointing and yet we're closing the stock market at a high.


And in that Democratic Paradise of NYC...

New York City’s share of poor people appears to have plateaued since the recession, at 21.4 percent. 46 percent, or nearly half of New Yorkers, were making less than 150 percent of the poverty threshold, a figure that describes people who are struggling to get by.  

“After years of trying to nibble around the edges with pilot programs that were well-intentioned, but that were not moving the needle,” he said, the de Blasio administration would confront “this stubborn undercurrent” full throttle through paid sick leave, expansion of the so-called living wage law, municipal identification cards, universal prekindergarten and after-school programs."


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