Episode 12 Synopsis: Greenspan's QE Criticism Too Little Too Late



* FOMC declares "substantial improvement" in economy.

* Does this narrative reflect the best possible spin or ignorance?

* Behind the 3.5% GDP number:



* Deflator - 1.3% indicates decrease in inflation.

* 4.6% surge in gov't spending

* Big drop in trade deficit resulting from drop in crude oil prices adds 1.3% to GDP










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