2nd Quarter GDP Numbers

[Sam Spade]

Read the internals and revisions, folks.  They say "bad".

But, then again, you folks never read the internals and revisions, so what's the point.  I may help you out later, if I really care about doing so. 

Btw, if federal government spending increases as much as I think it might, you may see a positive GDP 3rd quarter.  Be careful and don't believe it. 

One internal that I will provide says that the federal government's increase in spending by 13% over last quarter supposedly, according the calculation method the feds use, bumped up GDP by 1.13%.  Remember, all this is possible until it isn't.

[Sam Spade]

1) that's the exact idea of the stimulus - increase demand until the private sector gets back on its feet.  The very thing Hoover failed to do in 1930, when he was still trying to balance the budget.

2) and if you would take the time to read into the leading indicators, instead of focusing on the view in the rearview mirroe, you'll see the private sector is doing all the things it typically does immediately prior to a recovery. 

The truth of the matter, that will be undeniable in the months to come (though, I'm sure you'll still be discounting it, instead of admitting that you're wrong), is:  the private sector is ALREADY in recovery and the government stimulus will only add to its momentum.

Like, I said before.  I'm willing to take any bet with you concerning economics, and where we're headed, jmcfst.  Name the terms. 

Beet pointed out the personal consumption stat and Tender Branson correctly pointed out the inflation-adjusted GDP number, which is the correct measure to be using not the headline number.  I'll give kudos to that.