Friday, August 27, 2010

Obama's Epic Failure - Q2 GDP Edition

Quoting The Bureau of Economic Analysis:
“Real gross domestic product (GDP) increased 1.6 percent in the second quarter of 2010 after increasing 3.7 percent
in the first quarter.”
Click the image & read the rest:
Click the image & read the rest
I found no comfort in the reported “upturn in state and local government spending, and a pick up in federal government spending”.

That is two quarters in a row of slower growth. If Q3 reflects the same slowing trend, we may -- thanks to Obama’s epic economic folly -- already be in the second dip of a double dip recession (with negative GDP growth).

Click here for the more detailed BEA report.
Click here for more on Obama’s epic economic folly.


juandos said...

"epci failure"?!?!

Personally I think you're being far to kind sir!...:-)

You might find this rather longish bit from Zero Hedge worth a perusal though: Rosie's Observations On The GDP Number, On Bernanke's Address, And On The Market

David Rosenberg has provided his typically succinct summary of the day's heavy dataflow, starting with the GDP number, parsing though Bernanke's speech, and concluding with a broad overview of where the market is heading, which is now so disconnected form a bond-implied FV in the upper 700s it is no longer funny.

SBVOR said...

Juandos - Thank you, my friend!

juandos said...

Anytime sir! Anytime...

BTW considering all the blue state cities now crying poor-mouth you might find this bit from the Cato blog worth a look at: This Week in Government Failure

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