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All is Not Lost.

GDP fell in Q4/08 by 6.3% annual rate and continued the decline in Q1/09 by 6.1% annual rate. As of today (May29,2009) the re-revised figure is 5.7% in Q1/09. I suppose a four tenths of one per cent improvement is known as "not as bad" considering that this comes from 'massaged' revision.

In the last two years 70 investment companies comprising 115 individual hedge funds have disappeared. One can only guess at the amount of capital that disappeared along with them!

Association of American Railroads reported total volume off by 20.3% from 2008.

American Trucking Association reported in March a tonnage drop of 12.2% from a year earlier, that drop increased to 13.2% in April.

Department of Transportation is reporting a 27.9% drop in surface transportation as of the month of March ending Q1/09.

These statistics taken individually are concerning in their own right, however when compiled with other records and reports on the state of the economy, the picture that emerges is one of great concern. One only has to walk about in public and listen to the people and what they are talking about. The economy is on almost everyone's mind, with their attendant concerns and fears for what the future holds for them. Granted, the picture does not seem as grim as it was three months ago. With that said, is this the calm before the back edge of this economic hurricane comes ashore? Or is this the approach of the bottom along which we will bump for awhile before recovering? One thing that is unalterable, is that the road ahead will not be smooth. We have a journey ahead of us that will be filled with trials and tribulations aplenty. Together we survive. Individually we sink. United we stand. Divided we fall. Hope is eternal. All is not lost.   Disclosure: No position.