Gold, Oil and the US Dollar….and making Espresso at home…

From TheStreet.com

June 4, 2009. Tags: , , , , , , , , , , . Economy, Finance. Comments off.

Market Mover Friday: GDP drops 5.7%….

They are celebrating like it’s over. I say it aint over…Roubini expects a double bottom, seems likely the way they are throwing money around, if you add enough liquidity there will be a temporary boost in GDP, but it isnt organic GROWTH, not real JOBS, therefore unsustainable, especially if it is a false bump based on money printing antics, then the second bottom will hurt all the more..

Why the hexx cant they just let recessions happen and not frak with them? It is part of the economic cycle, we have safety nets to help people get through it after all, that is what the safety nets are for!!

CNBC:

Gross domestic product, which measures total goods and services output within U.S. borders, dropped at a 5.7 percent annual rate, the department said, less than the 6.1 percent estimated by the government last month.The revisions were below market expectations for a 5.5 percent contraction for the January-March quarter.

Output has declined for three straight quarters for the first time since 1974-1975.

The Commerce Department’s preliminary report also showed corporate profits after taxes increased 1.1 percent in the first quarter, the first increase in a year, after plummeting 10.7 percent in the fourth quarter. Analysts polled by Reuters had forecast profits dropping 7 percent.

Economic activity in the first quarter was dragged down by cutbacks in business, federal government, residential and nonresidential investment as well as a drop in exports.

Gold is on fire BTW as Oil also continues to rise on the weak US dollar…now at 79- level not seen since December..

GOLD up 14.70 to 976.20 now…my GOLD is still on its run

Oil up 1.15 to 66.23

May 29, 2009. Tags: , , , , , , , . Economy, Finance, Music, Popular Culture, Uncategorized, Wall St. Comments off.

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