Strong GDP and jobs numbers don't tell the whole story about America's economic reality [CNBC]
International Business Machines Corporation (IBM)
Last international business machines corporation earnings: 4/20 04:08 pm
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Source: CNBC
Michael S. Williamson | The Washington Post | Getty Images A group of homeless people catches the eye of a pedestrian on the 1300 block of K street NW, in Washington, DC. Driving down Constitution Avenue past the Federal Reserve building in the nation's capital, you can’t miss the crowd of homeless people gathered in the shadow of the austere building. The contrast between the place where U.S. monetary policy is set and the place where those who haven’t a cent congregate illuminates the darkening economic reality for so many in America. The Fed is worried about the economy overheating. All the conventional numbers tell us the economy is strong. Earlier this month, it was announced the economy added 213,000 jobs in June, and monthly unemployment was 4 percent. Second-quarter GDP growth is being forecast at 3.8 percent. The S&P 500 is up about 280 percent since 2009, according to the St. Louis Fed. All these measures support the notion th
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IBM
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