Things are looking up. GDP growth for Q4 2006 surprised everybody. Here are the latest numbers:
That’s a lot better than the recent forecast of zero percent growth by this economist, isn’t it? This kind of GDP growth should keep tax receipts trending upward. Good news all the way around for those of us more interested in the economic outcomes than the political effects of economic outcomes—even though I think we’re in the minority.
Much better than I anticipated. Exports were up markedly from the prior quarter which is great. Private non-residential investment (one of my pet indicators) declined however...not so great.
Computers were up...not surprising...laptops under the tree!
Posted by: Bob | 01 February 2007 at 09:37
It's kind of fun getting to know the various economic talking heads and watching them eat crow now and then. From what I can tell, few of them know anything about humility and are far too opinionated to be trusted with your money.
Keep up the great work Steve.
Posted by: anicolici | 01 February 2007 at 11:23
Nouriel is so bearish , he's almost a caricature of himself.... he finds the cloud in every silver lining , and when the numbers don't jibe with his forecasts , he blames the #'s for being manipulated by some "evil" force ( he couldn't possibly be wrong !! )
he's just a Tin-Foil Hat nitwit who wants/gets attention and furthers his career
Posted by: SShopkorn | 01 February 2007 at 14:36
Well, if you can't believe Paul Krugman when he says the economy's totally in the dumper, who can you believe?
Posted by: JorgXMcKie | 01 February 2007 at 23:08
It always takes the MSM a few years to recognize economic reality. They generally never call a recession until it's over. A recovery is only recognized when is completed. A boom is called just before it busts. They're always a day late and a billion dollars short.
Posted by: pawnking | 02 February 2007 at 08:11