First Quarter (2011) GDP revised to 1.8%. Click here. This is dismal, guys. We are NOT in a recovery. As John Williams has explained, we are in the second leg of a Depression.
The revisions give us the truth, although rarely covered by MSM.
There is no growth here. In fact, we are teetering toward the black abyss. Groovygirl hopes you are well prepared for further inflation in prices, lower housing prices, and higher unemployment/under-employment.
It is also very possible for a correction in stocks, but the market is so thinly traded that one large hedge fund (with cash from a bank with access to the Fed’s funding window) and two computers could probably keep it afloat for a while longer. Groovygirl is a little concerned that the insider selling/buying ratio has now slowed. Insiders do not seem to be selling as they have for the last 9 months. If they are all out in anticipation of a market correction, it could happen at any time.