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(LA Times)   Commerce Department revises downward their estimate of fourth quarter growth. The drop was blamed on the weather, since the only thing anyone bought was snow shovels, salt and sled dogs   (latimes.com) divider line 8
    More: Followup, United States Department of Commerce, snow shovels, U.S., economic growths, Chris Rupkey, Prudential Financial, estimates  
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103 clicks; posted to Business » on 03 Mar 2014 at 9:56 AM (51 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



8 Comments   (+0 »)
   
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2014-03-03 09:52:25 AM  
But in 9 months the baby boom will offset the current dip in consumer goods.
 
2014-03-03 10:02:47 AM  
I really have to wonder about this revision. It's one thing to go from a 3.2 to a 3.1 or 3.0. But all the way down to 2.4? That's a 25% downgrade. Something to me just doesn't add up here.
 
2014-03-03 10:06:41 AM  
I've been scratching my head at the recent market rally, and to be honest, I'm just not buying it.
 
2014-03-03 10:06:54 AM  
Approves

i.imgur.com
 
2014-03-03 10:16:17 AM  
I've been doing my part. Put my garden in early this year; it has been a stupid hot 'Winter'
 
2014-03-03 10:32:03 AM  

H31N0US: I've been scratching my head at the recent market rally, and to be honest, I'm just not buying it.


You not still trying to use the stock market as an economic indicator are you? When day traders came on the scene in the late 90s it lost damn near all its usefulness. The only thing you could say was that it was an indicator of the mood of the nation. Now with micro traders and other just trying to play the curve it has lost that as well.
 
2014-03-03 10:42:45 AM  

The Stealth Hippopotamus: You not still trying to use the stock market as an economic indicator are you?


Not really, butareyou implying that the current prices are driven by pure speculation on the part of day traders etc?

I think we're overdue for a correction, but I seem to be the minority.
 
2014-03-03 10:51:27 AM  

H31N0US: Not really, butareyou implying that the current prices are driven by pure speculation on the part of day traders etc?


yes. As long as the Fed is pumping in money the speculators have no reason to think the bottom will fall out. Remember the day that Yellen took over? Was it 390ish drop? The next day she hinted that the QE would continue and the good times returned. Other than that one thing could you point to another factor that would have cause that drop? I couldn't.
 
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