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That shrinking third quarter GDP
Tuesday, December 22, 2009
Estimates of the growth rate for the U.S. economy are starting to sound more and more like earnings estimates - you hear everyone talking about much larger numbers for months and months and then, when the final figures are reported, they prove to be a bit disappointing, in this case revised down from 3.5 percent, to 2.8 percent, to a final reading of 2.2 percent.
[Note: The above chart is an animated .gif - if you don't see it moving, that's not my fault.]There's much more here and here on the latest data - something about weak business spending and a higher than expected rate of inventory liquidation.
Of course, fourth quarter GDP is supposed to be much improved over the third quarter...
2 comments:
THAT IS BECAUSE THEY ARE LYING..........
we got tired of hearing the revised LOSS figures over and over of Lehman and the rest, didn't we?
Now the government is doing it. Revised numbers will be everywhere for quite a while.
Just like wall street, they don't realize how bad it is.
The government doesn't realize yet THAT THEIR TAX BASE IS GONE. The cities and states and feds are going to get 50% less REVENUE next year and THEY ARE NOT PREPARED AT ALL as they lie amongst themselves.
I wouldn't believe a good story in any financials for at least 24 more months.
and not from the government.......
THEY ARE LYING AND PUMPING KOOL-AID.
(and we know what eventually happens to kool-aid drinkers on this site, don't we?)
Yep we're in trouble, this conditions are here to stay.
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