2nd Quarter GDP Numbers

[opebo]

These are due out later this week. What are the expectations for them and what do you think they will be?

I was amazed.  About three weeks ago I got my quarterly 403(b) retirement plan statement and, as usual, opened it slowly thinking that it would have less money now than it did three months before, even though I put in about 700 a month and my employer puts in 1400 each month.  After all, for each of the past six quarters the balance actually falls, even with all that input.  But, lo and behold, I saw a gain.  Jeezus H. Christ!  I actually have more money now in that plan than I did three months ago!  Not as much more as I'd have if I'd just taken that 2100 a month and tucked it under the pillow, because I'd have 6300 more in that case, but still it was actually a + sign in the "net gain/loss" row.  So this news doesn't surprise.

But welcome news it is.  I like jmfcst's technical analysis, insofar as I can understand it, but I like more the fact that my own balance sheet showing an improvement.

Good lord man, you're a rich.  I can't imagine what is your salary if your employer is putting $1,400/month into a retirement plan.  I make less than 1400 in toto.

[opebo]

The reason why the contraction wasn't that large was the stimulus. But the economy is still in deep sh**t.

LMMFAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

What jfern says does make sense, AH.  Though I think it is important to understand that not just the 'stimulus' but in a larger sense all government spending is what has saved us from a worse fate.  The countercyclical effect of government spending is the only thing that stands between us and the abyss in such downturns.

[opebo]

Congrats, you've managed to artificially and temporarily boost GDP by having the government print more money and then spend it!

Trouble is, that isn't a basis for a recovery that can improve ordinary people's lives.  You've mortgaged the future for a lousy -1% growth.

Wrong.  What do you mean 'artificially'?  Do you imagine that the societal activity known as 'the economy' is 'natural'?  No, it is entirely artificial. 

I know you believe there is some objective font of 'economy' out there, independent of the State, but there isn't.  The State/Private dichotomy is a false one designed to delude such as yourself, and it works very well apparently.