GDP Data Suggest Recession Is Over

(obvious)

I think the worst is past us. I still think the economy will remain weak for the foreseeable future due to high unemployment.

(/obvious)

Haven't they been saying that since March? "Worst is behind us?"

Buyingnow,

AMEN!!!

yay. only two more years to go for NYC!

(and four more years for NYC housing prices!)

"Revised Q2 GDP Prints At 1.0%, Below Expectations Of 1.1%, Down From Preliminary 1.3%"

"The first revision to Q1 GDP printed at 1.0%, down from the preliminary Q2 GDP print of 1.3%, and as expected was worse than Wall Street consensus of -1.1%, although it was certainly not as bad as the miss to the preliminary number. "

"This is the third consecutive quarter in which the government has taken away from growth."

http://www.zerohedge.com/news/revised-q2-gdp-prints-10-below-expectations-11-down-preliminary-13

No, the worst is yet to come. Today's GDP figure was dismal; Thursday's unemployment figure was dismal. The gnus out of Europe was worse. Bernakers can't do anything else because the problem is and was QEII - caused an asset bubble right in the middle of a slow-growth recovery, when unemployment was high. Food and energy prices - OOPS! Not in the inflation figures! - wreaked havoc. Consumer spending up only because prices were cup, not because consumption was up. Now unemployment benefits are running out & not to be renewed, & government is reducing employment at the precise time it should be counter-cyclical.

Bad Monetarist Supply-Side Economics.

"Haven't they been saying that since March? "Worst is behind us?"

Really.. Really...