ChipSeal

Chart of the Week: GDP Worse than Expected

Initial claims cannot be thought of as anything but optimistic hope. Wait a month and they will be revised to reality.

The administration knows that the revised figures won't make headlines from a seriously incurious media, as they are overshadowed by the latest optimistic lie.

The "too big to fail" banks revise their latest earning report with a Friday after hours 10-K filing- They had inflated their balance sheet by a few tens of billions. Nice.

All we know is, no matter what the current report is, it is really worse than they are saying.

Wall Street Breakfast: Must-Know News

"Obama officials called the minimal details intentional"

This is because they are in campaign mode. Be vague, make general statements about your goals but don't commit to specifics. This way, each member of your audience will impute his own favored solution into your remarks and support the idea! Once it is being implemented, it will be too late.

"Critics are livid with the industry for handing out $18.4B in bonuses even as the companies reported losses and accepted government funds, and for lavish expenditures including private jets and expensive retreats."

I thought all that money was to stimulate the economy. What is the "stimulative" difference between loaning out the money and buying jets and paying bonuses? I dare say the bank executives seem to spend taxpayers money just as responsibly as our elected officials!