3rd quarter GDP

[Manchy]

Is apt to be positive, which some will say today signals the end of the recession. It is my estimate, that when government stimulus/borrowing is taken out of the equation, that the economy is still stalled and there will be no recovery. So be prepared for the economic spinmeisters to be out in force today telling you how great things are. Don't be fooled because doom is just getting started.

[Manchy]

Subject to revision on November 24th after more complete review is completed. Without the massive stimulus provided by the government, we would be in negative range. But as long as we can borrow or print, its all good in the hood.

http://cincinnati.bizjournals.com/cincinnati/stories/2009/10/26/daily53.html

The nation’s real gross domestic product increased at an estimated annual rate of 3.5 percent in the third quarter, the Bureau of Economic Analysis said in an advance estimate Thursday.

In the second quarter, real GDP — the output of goods and services produced by labor and property in the United States — decreased 0.7 percent, the BEA said in a release.

The BEA said its third-quarter advance estimate is based on source data that are incomplete or subject to revision. The agency will release another third-quarter estimate, based on more complete data, on Nov. 24.

The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures, exports, private inventory investment, federal government spending and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased, the release said. The quarter also saw a smaller decrease in nonresidential fixed investment, partly offset by an upturn in imports, a downturn in state and local government spending, and a deceleration in federal government spending.

[Max Power]

America will prevail. Let's be thankful we're not living in Chad or Nigeria or some other shit country with a bunch of spooks!

[Manchy]

Chad and Nigeria have less far to fall then the USA does. You are lucky to be alive at this point in history to watch it all come crashing down. Think of the stories you will have to tell your grandchildren. Things like I-pods, computers, GPS will all seem like magic to them or the ravings of an old man.