BBC - Housing slump batters US economy

[jannyk]

Just confirming what we already felt and knew, despite WH propaganda telling us different.

http://news.bbc.co.uk/2/hi/business/6091576.stm

US economic growth slowed to an annual rate of 1.6% in the third quarter of 2006, its lowest level for three years.

snip...

However, the slump in gross domestic product (GDP), well below Wall Street expectations, comes as a blow to President George W Bush ahead of the US midterm elections next month.

The economy, alongside immigration and the war in Iraq, is expected to be a major influence on voters when they go to the polls.

snip...

In the US, the data also caused a surprise.

"Below 2% is certainly a negative surprise and suggests that the economy is cooling off faster than anticipated," said Bank of New York strategist Michael Woolfolk.

[LynnTheDem]

1. SHHHHH!!! Don't tell the Americans!

Well, don't tell the dumber-than-a-box-of-rocks rightwingnuttery section of America; bushCabal are duping & conning them into thinking the US economy is FANTABULOUS! Wouldn't want the truth to wake them up.