GDP
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2/26/10 Midafternoon Report: AIG loses more in Q4 than entire GDP of Malta, warns Botswana they’re up next
The market is a bit mixed today like the drug cocktail found in Brittany Murphy’s stomach. Sales of existing homes dropped for the second consecutive month, this time by 7.2% which is the second largest decline ever and is creating more of a buyers market than the internet did for newspapers. The decline was caused…
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1/29/10 Midday Report: Size doesn’t matter as 6% GDP expansion fails to stimulate the market
The market is bouncing around today even though GDP grew 5.7%, the fastest pace in 6 years and beat estimates of 4.7% growth. The upside was led by a restocking of inventories from their depressed levels (and inventories were more depressed than Kathy Griffin’s bikini waxer the time she ran out of rubber gloves). The…
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12/22/09 Midday Report: GDP revised down, existing home sales up (await downward revision)
The market got mixed news today as sales of existing homes grew 7.4% to a two year high of a 6.5MM annual rate (and we thank our lucky pornstars for tax breaks, 4% lower median home prices, foreclosure sales of houses formerly owned by the unemployed, and Faye Reagan) while GDP was revised downward from…
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11/24/09 Midday Report: Stocks are down as people hate spending, unless they are spending on cheap shoes
The big news of the day is that the government revised GDP data downward and consumer spending took the brunt of it (which is how it works when consumer spending is 70% of GDP, dipshits). The new estimates are that there was a 2.8% rise in GDP from this past Q vs. the previously announced…