Thursday, March 27, 2008
Economy posted .6% growth
So at 8:30am today, the report for GDP growth came out- .06%. This was recorded for the period from October to December. What does that mean? Well, considering that growth in the prior quarter was 4.9%, it can be easily seen that the machine that is our economy is slowing down. Now, if for some reason, the next GDP report comes out less than .06%, we are in a recession right? Wrong. A recession is only official when a group of economists somewhere say that we were in a recession. They analyze GDP, unemployment, inflation, and a whole bunch of other things; they are a secret society that everyone looks to. Unfortunately, they say things like, "so in March 2008 we were in a recession, but it ended March 31st." --The news comes after the fact. So what should one do? Nothing. Well, maybe play more xbox and watch March Madness. I think a couple of games are on tonight....in HD. Hopefully Memphis wins it all, but since they suck at freethrows, my bracket is ruined and North Carolina will win......
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Dear Rahul's Financial World,
Sir, this entry was dumb. Literally, worthless in intellectual curiosity or financial outlook. Nonetheless, we shall all be happy for March Madness.
On another note, the economy is doing well, although the growth is slowing down. It is not negative yet, and therefore, we are not in a recession, nor can we safely assume we are in a recession or state with any assurance that we are indeed headed towards one.
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