Thursday, October 27, 2011

Today's GDP Report: Too Much Optimism?

   With the many positive signs we've seen lately, and the upgraded predictions of GDP-up to 2.5 percent for the third quarter as opposed to .4 percent in the first and 1.3 in the second for a yearly total coming in of only 1 percent-I can't help but wonder are we set up for disappointment?

    That's always possible but right now there seems to be a lot of reason for optimism. That the EU is finally giving Greece the 50 percent haircut it needs on the bond debt is another very positive development. Finally reality has been allowed to peak in for Europe. Clearly at least part of the weak GDP during the first half was the shocks from Japan and oil prices, etc.

     Most recent reports have suggested some reason for optimism. Another that has is recent unemployment fillings. There is a new report of filings for last week out today as well.

     If things are getting better this has to be good news for those of us of have suffered unemployment. It may really throw off the GOP election strategy.

     The GDP report will be at 8:30. Fingers crossed.

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