Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 SD's

[Neotrotsky]

Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 Standard Deviations

So much for the miraculous inventory expansion. JPM's Michael Feroli was spot on: the strategist who predicted a significantly below par revised Q3 GDP print of 2.0%, was right on the dot. Advance GDP dropped from 2.5% to 2.0%, missing expectations of an unchanged print. The impact was entirely due to Inventories detracting from growth, with the Private Inventory number declining from -1.08% to -1.55%. And to those expecting a surge in Q4 GDP based on inventory restocking, which would be virtually all Wall Street economists who missed today's number by 2 standard deviations, we have one thing to say: it ain't happening. In fact, liquidations are coming first, fast and furious with Personal Consumption coming at 2.3%, and missing estimates. Needless to say futures, are not happy.

​

 

[paulitician]

Nah,all is well. Let the good times roll. WOO HOO!!!

 

[Neotrotsky]

I heard the Left may blame Bush

 

[Lonestar_logic]

Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 Standard Deviations

So much for the miraculous inventory expansion. JPM's Michael Feroli was spot on: the strategist who predicted a significantly below par revised Q3 GDP print of 2.0%, was right on the dot. Advance GDP dropped from 2.5% to 2.0%, missing expectations of an unchanged print. The impact was entirely due to Inventories detracting from growth, with the Private Inventory number declining from -1.08% to -1.55%. And to those expecting a surge in Q4 GDP based on inventory restocking, which would be virtually all Wall Street economists who missed today's number by 2 standard deviations, we have one thing to say: it ain't happening. In fact, liquidations are coming first, fast and furious with Personal Consumption coming at 2.3%, and missing estimates. Needless to say futures, are not happy.

​

Don't let TM know about this. She was singing "Happy Days Are Here Again" just a few days ago.

 

[Meister]

Chris will come in and call it part of the astounding recovery.

 

[Neotrotsky]

too funny

 

[Neotrotsky]

Chris will come in and call it part of the astounding recovery.

and blame Bush

 

[paulitician]

It's called burying the lead. CNN & NBC wont be touching this one. Instead they'll be leading with another puff-piece on how Obama's saving the World. Par for the course with them. No pun intended.

 

[Neotrotsky]

Possibly it may time again to put him on the cover of magazines

In 2008
Time had featured Obama on its cover 14 times
Newsweek was close behind, featuring the president on 12 of its issues.

 

[Remodeling Maidiac]

Have no fear q4 will be great with holiday sales then we can rejoice at what obama has accomplished. Till Feb when it declines again of course.

 

[Remodeling Maidiac]

Bump for Chris to cry over

 

[MeBelle]

Chris will come in and call it part of the astounding recovery.

and blame Bush

followed by Truthmatters...

 

[Neotrotsky]

Yes the great Left minds

will remind us how well we have it.....

 

[C_Clayton_Jones]

Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 SD's

And the fact that you and other rightists cheer this news, and the prospect of Americans’ continued suffering, is reprehensible.

 

[MeBelle]

Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 SD's

And the fact that you and other rightists cheer this news, and the prospect of Americans’ continued suffering, is reprehensible.

If you want to call it cheering, you will be failing.

 

[georgephillip]

I heard the Left may blame Bush

We won't blame Elizabeth Warren.

"Karl Rove’s Crossroads GPS group has launched the first attack ad against Elizabeth Warren, presumably because she is now running hard for the Senate in Massachusetts...

"The ad states, 'we need jobs, not radical theories and protests,' so we can break the argument down into three separate parts.

"First, who destroyed more than 8 million jobs in the United States – and plunged us into the deepest and longest lasting recession since the 1930s...

"Mr. Rove is opening the blame game and this is going to go badly for his presumed supporters – the largest banks on Wall Street that took excessive risks, paid their top people well, and then blew themselves up at great cost to the American taxpayer.

"By all means, let us have a conversation about jobs and the history of job losses in the United States; 'too big to fail' banks do not look good in this context."

Wall Street v. Elizabeth Warren « The Baseline Scenario

 

[Trajan]

we're still struggling. there have been a number of corporate layoffs continuing too.

Adobe laid off 8% of their work force ( the third 8-10% reduction in 4 years btw), Jackson Health Care systems sent a furlough letter for 2 weeks of unpaid leave to their workers, just this month for instance. I have a friend in HP who got moved to Boise when they consolidated all of their accounting work there, hell, 10 years ago, they are rolling it up, outsourcing it, like 1000 people.

 

[Avorysuds]

But TM and RW just said turkey sales are up because of Obama...

 

[RDD_1210]

This thread is a shining example of people who put party over country.

The true face of America?

Be Proud you "patriots".

 

[georgephillip]

we're still struggling. there have been a number of corporate layoffs continuing too.

Adobe laid off 8% of their work force ( the third 8-10% reduction in 4 years btw), Jackson Health Care systems sent a furlough letter for 2 weeks of unpaid leave to their workers, just this month for instance. I have a friend in HP who got moved to Boise when they consolidated all of their accounting work there, hell, 10 years ago, they are rolling it up, outsourcing it, like 1000 people.

Do you see a Lehman Brothers moment in Europe's future?

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