Like a Jersey guido on a strict regimen of steroids, UV rays, and hormone-fed dairy product, the economy has experienced a sudden and noticeable growth spurt. According to a report from the Bureau of Economic Analysis, at the end of 2009, the economy grew at its fastest pace in over six years, most likely owing to the government’s decision to pump it full of money churned out by the Federal Reserve.
From today’s Times:
Gross domestic product expanded at an annual rate of 5.7 percent in the fourth quarter, after growing at an annualized rate of 2.2 percent in the previous quarter. Analysts had forecast annualized growth of 4.8 percent in the fourth quarter, and the better-than-expected result sent stocks higher. The strong growth in the fourth quarter capped a year of the biggest contraction since 1946, when the country was still cooling off from World War II.
For an economy coming out of a recession, this looks like good news, but “it’s not clear how sustainable this pace of growth is,” one economist tells the Times. Side effects may include heart problems, mood swings that cause the economy to punch someone out on the boardwalk, and serious inflation.
U.S. Economy Grew at Fastest Pace in 6 Years Last Quarter [NYT]
Bureau of Economic Analysis/National Economic Accounts [BEA.gov]
