Q3 GDP Tracking: Around 3%
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From BofA:
Since our last weekly publication, our *3Q GDP tracking estimate is
unchanged at 2.6% q/q saar*. [Oct 11th estimate]
emphasis added
From Goldm...
1 hour ago
Posts
2 comments:
What the FED basically did today was prove it is willing to destroy the currency in order to keep asset prices inflated and therefore the illusion of wealth IMHOP.
Kevin
Kevin,
It is still possible that what he did was the right thing to do, especially if we slide into a recession anyway. Kind of spooky to see oil push up past $80 though. Maybe he's simply seeing more data we aren't able to see yet. We'll get to see the CPI in the morning. It better be tame.
In any event, I'll defer to Alec Baldwin in 30 Rock.
The Italians have a saying Lemon. Keep your friends close and your enemies closer and although they've never won a war or mass produced a decent car, in this area they are correct. In five years we'll all either be working for him, or be dead by his hand.
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