Slow growth. No growth. How about less than zero growth? The Obama economy continues to impress with its amazing lack of resiliency. Throw a little cold weather into the mix and whaddya know? The economy actually shrinks. Gee - you'd think we were in a recession or something. Reuters: The U.S. economy contracted in the first quarter for the first time in three years as it buckled under the weight of a severe winter, but there are signs activity has since rebounded. The Commerce Department on Thursday revised down its growth estimate to show gross domestic product shrinking at a 1.0 annual rate. It was the worst performance since the first quarter of 2011 and reflected a far slower pace of inventory accumulation and a bigger than previously estimated trade deficit. The government had previously estimated GDP growth expanding at a 0.1 percent rate. It is not unusual for the government to make sharp revisions to GDP numbers as it does not have complete data...(Read Full Post)