While the U.S. Bureau of Economic Analysis (BEA) reported a robust 4.3% annual increase in third-quarter real gross domestic product (GDP) on Tuesday, economist David Rosenberg is calling the headline number a “fugazi.” The ‘Fugazi’ Factor The president of Rosenberg Research argues that underlying economic weakness is being masked by government spending and depleted savings, calculating “true” growth at a meager 0.8%. The official BEA release shows widespread gains, with real GDP accelerating fr
Upvotes are a count of how many hexbearians have never met an Italian American 😁
‘Fugazi’ is functionally equivalent to ‘bullshit’ in usage.