Posted on 07/31/2009 6:20:49 AM PDT by fiscon1
There's breaking news. The Gross Domestic Product number came out and the economy contracted by one percent over the second quarter. (April through June) The consensus number was that the economy would contract by 1.5%. This is the most promising economic news in months. This is the fourth straight quarter of contraction which used to be a technical definition of a depression. (though most people don't consider that the definition anymore)
(Excerpt) Read more at theeprovocateur.blogspot.com ...
The ole expectations game. You knew it was coming when the won went into a line about how the economy is still contracting blah blah blah.......
Anyone believe these numbers?
Ah yes, but 1Q GDP was revised from -5.5% to -6.4%.
I think that’s why the futures are down and the bonds are flying.
Just a thought.
-Rex
It’s also the most extended period of contraction since record keeping started in 1947 ....
http://www.reuters.com/article/newsOne/idUSTRE56U1I220090731
Dumb money rules the market!
Clearly, the recession is over /s
If I were an immoral person I’d find these people who believe The Learder is speaking the truth and take them for every cent they owned. That is if I were immoral and the Democrats hadn’t already done it.
The NappyOne
10,000 Dow and I’m out.
If Bush was still POTUS, you bet your ass most (media) people would still consider it the technical definition.
The SRM's Orwellian economic spin this week has been truly remarkable. Possibly the most orchestrated bit of mass manipulation I've ever seen.
You are an optimist! Good Luck with that and your timing!
Harry Dent (The Great Depression Ahead) prophesied a rally to 9800 July 09, before the big downturn sets up and we slide into depression in 2010/2011.
I lost my nerve at 9100 and got out except my pinky toe- never know what news is going to crop up on any given weekend that may rock our world (thinking international crisis like Israel vs Iran).
Don’t you miss those good ol’ days under President Bush and 5.4% unemployment and 3% growth in GDP
when the news was dominated by stories about the homeless and unemployed, the war being lost in Iraq, and people thinking the country was “going the wrong way” ?
ah, nostalgia
On the same day they’re telling us how badly they botched the numbers from previous quarters, they actually have the stones to try to sell us the official start of depression as great news — because they low-balled the numbers again.
This is surreal. There’s no lie these people are unwilling to tell.
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