gordon

The View From Friday's GDP Report

there is an independent M3 money supply data firm now, it's running @14% annual.

The View From Friday's GDP Report

Many studies show the CPI is understated by 2.4%, so inflation is about 6%. That means the GDP is a fraud. If you take out 9.5% in defense spending, and realize the increase in exports was probably this military-industrial payola (of which Bush wants $20 bill more, another promise to his base before leaving office), and realize imports slowed because consumer spending is dropping, it's hardly a pretty picture. Here in Calif we created 400 June jobs! Take out gov't jobs, it was NEGATIVE. June 2006 employment created over 26,000, meaning housing-related jobs are literally falling off a cliff.