Dennis “The Recession is Over” Kneale tries to shout down Karl Denninger when Karl soundly argues that Government spending , along with the BEA’s revisions, are the main reason for the GDP growth NOT being reported at around -5.0%.  We don’t thnk Dennis was very successful…He winds up falling back on the fact that the S&P is up as “proof” that the GDP report is accurate…  What do you think?

(ht The Big Big Bet)