Hmmm, GDP is down and everybody's surprised... I'm not.

[Deja Q]

Could it be that offshoring well paying jobs and replacing them with shit retail jobs that make 1/3rd the money be a possible reason, huh? We can't buy the crap they make offshore if we can't afford it... (read the articles below, apparently the professionals in the money market are SURPRISED by this outcome. Man, we are so boned...)

Oil is now $44/barrel... terrorism and peak oil starting to show their heads? Way to make us safer *, incite terrorists with your petty skullcracking and doing jack shit about weaning us off oil... x(

Federal budget is nearly half a trillion. Bush can't blame Clinton for ANY of it. I'm sick of his toddleresque behavior. Just sick of it. And last year's $375 bil was bad enough...

* has done nothing about the insanely expensive medical industry as well, and this only sticks more pins into the balloon that is our economy.

* has got to go, for real. The fact anybody believes him just shows how S-T-U-P-I-D people are. Yes, Dems are stereotyped as being smarter than everyone else. Well, we ARE. It's not our problem the people prefer to dig their own graves and elect (or allow to be put into power) idiots and/or swindlers.

http://www.msnbc.msn.com/id/5558380/

http://cbs.marketwatch.com/news/story.asp?guid=%7B0181BE6E%2DADE0%2D41C2%2D88E4%2D7B96CB19412E%7D&siteid=mktw


Now Kerry has a huge-ass change to take the White House from the barbarian in power. He needs to say he'll bring back the good paying jobs. Just before the election is when he should go into details so * can't hijack the words but still do jack shit about putting words into proper practice.

Corporate CEOs need to give up a small amount of their multibillion profits and give back to the people of this country who helped them up. And that's by giving us our jobs back. (Hell, nobody at Microsoft can continue to say "Nobody's ever lost a job because they worked with Microsoft products." MS is shipping jobs offshore as well, not to say the corporate trend of ditching PCs in favor of this thin client centralization bullshit that the money pinching CEOs don't realize the full implications of!

[tritsofme]

1. The advance GDP number is very volatile

For Q1 of this year for example, the street expected 4.5% growth. The advance number came in at 4.1%, the preliminary number came in at 4.3%, and the final number was revised downward to 3.9%.

Then when the advance for Q2 was released today, the BEA revised Q1 numbers again, to 4.5%, the same number the street expected back in April!

The advance number is a good barometer of economic growth, but the final figure could still have quite a bit of swing in it.

I think the slowdown last quarter was mostly attributed to lower consumer spending, and weak orders of durable and non-durable goods.

[papau]

2. Final number was revised - makes me want to smile! :-)

I realize they went back a few years - indeed that is how we lost our recession in 2001 - we no longer have 2 qtrs in a row of contraction!

But I did like the idea of revised final number.

I think we should number our final number.

Like revised #2 final number, then revised #3 final number, etc....

:=)