The Ignorant Investor
Ignorance Can't Stand in the Way of My OpinionThursday, May 29, 2008
The Asthma Economy
First quarter GDP was listless at an annual growth rate of just under one percent. Jobless claims are also up for the week.
A few months ago I said it didn't feel like a recession in my town, and it still doesn't. People are still in the shops, and I'm not constantly hearing tales of woe. What's missing these days is the glow of the boomtime. That cheerful, proud, slightly greedy tone that people get in their voices when talking about how their 401Ks are rising, their houses are more valuable, and they're getting bonus checks and overtime at work.
Sounds like the economy is still wheezing along, but I'm wondering if that .9% grow rate will get revised down in the next report.
A few months ago I said it didn't feel like a recession in my town, and it still doesn't. People are still in the shops, and I'm not constantly hearing tales of woe. What's missing these days is the glow of the boomtime. That cheerful, proud, slightly greedy tone that people get in their voices when talking about how their 401Ks are rising, their houses are more valuable, and they're getting bonus checks and overtime at work.
Sounds like the economy is still wheezing along, but I'm wondering if that .9% grow rate will get revised down in the next report.
posted by Worker 17 # 1:55 PM 
Archives
June 2005 July 2005 August 2005 September 2005 October 2005 November 2005 December 2005 January 2006 February 2006 March 2006 April 2006 May 2006 June 2006 August 2006 September 2006 October 2007 November 2007 December 2007 January 2008 March 2008 May 2008 January 2009 February 2009 July 2009 November 2009 December 2009 January 2010 April 2010 September 2010 October 2010 November 2010 February 2011 March 2011 April 2011 August 2011 September 2011
Subscribe to Posts [Atom]