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GDP what's up with the munbers?

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July 29, 2011 – Comments (6) | RELATED TICKERS: G , D , P

When the 2nd Quarter GDP number came out at 1.3%  I wasn't overly surprised despite many expecting 1.8%.  What surprised me was the downward revision of the 1st Quarter number from 1.9% to .4%.  Now that is some serious revision.  With that kind of a drop did we really turn negative 2nd Quarter when it is revised later?  Now the market is generally forward looking so the last 2 quarters are history and this market is already looking into 4th quarter if not 1st Quarter next year.  Earnings have been coming in overall positive, with some clunkers, so hoping the 2nd half turns out better than the first half.

6 Comments – Post Your Own

#1) On July 29, 2011 at 7:46 PM, alstry (35.46) wrote:

Here is what the market can look forward to....

Insiders Selling at Unusually Fast Pace

The Global Recovery is Over: Siemen CEO

Detroit School Teachers to Take 10% Wage Cut

Student Aid At Stake in Debt Crisis

Georgia Medicaid Move Hits Insurer Shares Hard

Great Recession Even Deeper Than Thought

Vacant Homes Will Drown Housing Recovery

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#2) On July 29, 2011 at 11:11 PM, awallejr (83.97) wrote:

Well guess the thread did beg a flurry of Alstry links, but the 1st quarter revision really irks me.  Not because they tried to get it more accurate but because it was so far off the mark when they first published it.

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#3) On July 29, 2011 at 11:27 PM, Frankydontfailme (27.34) wrote:

Out of curiosity, do you suspect foul play or incompetence with this absurd revision?

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#4) On July 30, 2011 at 12:43 AM, alstry (35.46) wrote:

You silly goose,

the ONLY reason the numbers have been OK is because government has been BORROWING TRILLIONS to bail out Wall Street while the rest of America is collapsing.

If you measure the increase in earnings against the INCREASE in borrowing...we are borrowing about $100 for every $10 increase in Wall Street earnings.

Just like government is borrowing over a million dollars for every $50K job created.

If government and Wall Street can borrow to make their earnings look good, why can't everyone?

Why can't EVERY FOOL raise their debt ceiling?

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#5) On July 30, 2011 at 1:47 AM, awallejr (83.97) wrote:

#3 foul play would have occurred when they first published the 1.9 number.  Incompetence would have occurred when they revised it.  I lean towards incompetence.

The real Alstry would never call me a "silly goose" ;p  But there really isn't anything wrong with the government "borrowing" trillions since it is all just paper.  What is wrong is when the few are given preferential treatment over the majority.  I really do want to punch Kudlow in the face with his attack on entitlements (which the little guy depends upon) yet no new taxes (which the thieving rich guy then gets away with).

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#6) On July 30, 2011 at 9:07 AM, alstry (35.46) wrote:

It is not just paper....it is the means to obtain another's production....it is necessary for survival.

...and in an Industrial Society....it is FREEDOM.

When government prints FREEDOM for a few and not for all...it is TYRANNY in a nation where ALL MEN ARE CREATED EQUAL.

In the past you had to produce to be wealthy...today you only need to have a friend in Washington.

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