Dude, Where's My Recession? The Series
So it looks as if the economy was a bit stronger in the first quarter than first estimated, up 1 percent rather than 0.9 percent. The details of the revision also make it more likely that 2Q will be safely positive. In short, the economy grew during the final quarter of last year, the first quarter of this year, and very likely during the current quarter. Lousy growth, absolutely. But no recession despite a housing meltdown, credit crunch, and oil superspike. This is why I call the U.S. economy the Amazing American Growth Machine.
Tags: economy | GDP | recession
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Stocks up, bears weep
Oh wait a second? Where's "Jimmy P" now? Hiding in his bull pen licking his wounds one would expect.
I always wonder why folks like Jimmy never come back on shows like Kudlow to admit how massively wrong they are and how much money they've cost ordinary investors with their Pollyannaish drivel
Wow, that was really bitter.
Stocks will come back. They always do. The smart investor looks at yesterday and sees a buying opportunity. Meanwhile, data continue to indicate no recession.
Shares of McDonald's purchased March 10 (2008's bottom prior to yesterday) would have given you a 5% return if you sold them yesterday.
Wal Mart - 16%
Dell - 18%
And on...
The Sky isn't Falling
http://fmpolitics.blogspot.com/2008/06/sky-isnt-falling.html
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