Powdering The GDP Pig——-There Was No Escape Velocity Inside

The talking heads were busy yesterday morning powdering the GDP pig. By averaging up the “disappointing” 1.5% gain for Q3 with the previous quarter they were able to pronounce that the economy is moving forward at an “encouraging” 2% clip. And once we get through this quarter’s big negative inventory adjustment, they insisted, we will be off to the ‘escape velocity’ races. […]
You must be a Stockman's Corner member in order to view this post, subscribe to Monthly Subscription, Quarterly Subscription or Annual Subscription.