Current US Economy
This year has been marred by the cowards. Chart destructive doom and gloom mentally disturbed low lives who have cried rivers about a recession. Those fears have a ceasless stream of emotional sag in the trading world. They have been crying rivers about how the sky is falling, how bad things are and how we will never come out of it. Real estate according to these brainless amoebas will never come back to life and all will end before they can rise tomorrow.
However EMPIRICAL DATA points to a different reality. Not only we never had a single quarter of negative GDP growth since 2001 , the recent quarter was revised today from 0.6 to 0.9 % growth to bolster our long standing theory that there is not going to be a recession in a election year in the US. This also ups a growth from 0.6 % GDP in last quarter of 2007 to a healthy growth of 0.3 % in the first quarter of 2008, and God willing we should be seeing some spectacular results at the end of second quarter when the time comes.
Top it all WARREN BUFFET & ALAN GREENSPAN harked weak American traders into submission with their nonstop harangues and lies. Just think about it how institutional traders take your money and horde stocks when you panic in emotional turmoil. They knew better what we know now here today in black and white.
Shorts shall burn in hell as this is a bull market that wil sap your account values. We are going higher and take out 200 day averages in a hurry.
Here is the market analysis from S&P Market scope read it and die.
"First-quarter real gross domestic product growth was revised to 0.9% from the 0.6% reported preliminarily, in line with market consensus. The upward revision was concentrated in foreign trade, where both exports and imports were revised lower, but exports less than imports. Trade contributed 0.8 percentage point to growth. Inventories were revised downward, contributing only 0.2 percentage point, down from 0.8 in the advance.
Business fixed investment was also revised upward, to negative 0.2% from negative 2.5% in the advance. Consumer spending, the largest component in the GDP data, was unrevised at 1.0%. Overall, the data are in line with expectations.
The upward revision to growth and especially to final sales (to 3.4% from 2.4%) show more momentum in the economy, suggesting that second-quarter GDP could also come in positive, according to S&P Economics.
â Overall, the GDP report had a slightly healthier mix of growth, with more strength coming from final sales and less from inventory investment,â ? wrote Lehman Brothers economist Zach Pandl in a note Thursday. â With Q2 GDP now tracking well above zero (0.9% by our estimate), the report will likely intensify debate over whether the economy actually slid into recession in the first half of the year.â ?
Federal Reserve chairman Ben Bernanke said in a speech Thursday that the Fed's liquidity injections have helped stabilize the financial system, but markets are still far from normal. . On Friday, the market will receive reports on U.S. personal consumption expenditures for April, and the May Chicago PMI and Michigan Consumer Confidence surveys"