http://www.telegraph.co.uk/finance/fina … talls.html
Seems the gov estimate of growth was revised DOWN below expectations! So should we cheer about how the economy.is improving? Should we still trust CBO estimates?
During my years trading on the open market, I learned that the info the gov puts out is always wrong and later revised. The economy is going to get worse, just look at who Obama appointed as head economic advisor today.
Well done! An article from a UK right wing anti-Obama rag!
From the end of the article:-
"The report also showed that after-tax corporate profits increased 4.1pc in the second quarter after edging up 0.1pc in the first three months of the year.
It also showed inflation pressures abating, with the personal consumption expenditures price index rising at a 3.2pc rate. That compared to 3.9pc in the first quarter."
Tut, terrible, profits up, price index dropping, oh what a mess.
Maybe so but businesses are still not hiring because of Obama's regulations that create an uncertain market......but then again I guess I am a right wing anti-obama rag haha.....
But doesnt the fed think we need a little.inflation? If prices are dropping that means demand remains weak, and if corporations are to remain profitable in the face of weakening demand, that means they will be laying off. Remember, profitability is the reason corporations exist, they will find ways to achieve that in whatever environment.
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