US GDP Growth Was Actually 'Horrible'

Mod Edit, Original thread title: Marc Faber: Report on US GDP Growth Was Actually ‘Horrible’

cnbc.com/id/33549682

Must note that many commentators here are encouraging people to go out and spend

Calculated Risk has a piece on Mark Zandi’s analysis of the effects of government stimulus that backs this up to a degree:
calculatedriskblog.com/2009/ … ssion.html

At least, it backs it up in my view. The growth figure was entirely expected and pretty much entirely due to government stimulus. The government seems to be somewhat backed into a corner as to how much further stimulus it can put in, so it could be that peak stimulation has been reached (ooh-er, missus). If this is the case, then the private sector is going to have to step in. If this happens, you would expect to see increased employment, increased salaries, increased hours, or some combination of the three. This does not appear to be happening yet.

I say yet, because it is not clear where the stimulus is going to. It could be that it will hit the spot, or it could be fiddling around with the elbow…

I never heard anyone here say they should borrow or leverage up to do it though.

Sorry, when I said here, I meant Ireland, not the Pin

Peter Schiff’s take on it…

europac.net/externalframeset … ype=schiff

A dead cat bounce?

reading the comments on the cnbc are very revealing, as he is anti american wants the end of the world etc

If people are thick enough to believe faber is wrong they deserve to lose their shirts and more

Cant see em - where are they?

cnbc.com/id/33549682/comid/1#comments_top

He also has a video up on youtube:
youtube.com/watch?v=OKv1qg-K78o

Bottom line iwht the GDP, + figure was due to once off items i.e 8K grant to hosue buyers… cash for clunkers etc…

Typical distribution day yesterday i.e offload to the guy on the street on GDP good news and good chicago PMI…