Friday, July 29, 2011
Quick follow up to last posting..
GDP announced today.. 1.3%
This is what Reuters had to write: "The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation's debt does not end quickly."
Interesting though... notice even in this economic reality piece, the writer still Refuses to admit there never was a break in the recession. Key words: "raising risk of a recession"
The need to mislead its reading public never ends...
PS We predicted a 350pt drop.. turned out it only dropped 96pts so we'll call ourselves 'wrong' on that. However it means Wall St isn't taking the threat of a default seriously.. neither should you.
Posted by Susquehanna at Friday, July 29, 2011