Karl Denninger, "The GDP, in A Picture"

"The pumpers in the media will burn in Hell for dragging you (the sheeple) back into this market.
Here's the truth on GDP, in a picture:

This is off Table 3B in the BEA's release* and is actual year-over-year change in constant (chained) dollars. Feel free to check my work - in fact, you should check my work, just like you should check everyone else's you hear, especially if you hear a politician or media pundit opine about how "things are getting better."

Baloney. Not only is the GDP still falling it is still falling at an increasing year-over-year rate. The second derivative will not go positive until the slope of that line turns upward and we will not see an actual y/o/y increase until (of course) the line goes over zero. So long as the line slopes downward the decline in GDP - the economy as a whole - is accelerating.

One other thing: Notice how 2007-Q3 was when the turn in GDP happened? When did the market top? October 2007, SPX 1576, right?

Think about it folks.

You're being lied to.

Again."

- Karl Denninger, http://market-ticker.denninger.net/
*Bureau of Economic Analysis, http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp2q09_adv.pdf

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