The Recession is getting uglier

From John Williams at www.shadowstats.com:

> – It’s the Consumer, Not the Weather!
> – Weakening Economy Should Hit U.S. Dollar Hard, Boost Gold
> – First-Quarter Gross Domestic Product Fell by 1.0%;Gross National Product Tumbled by 2.1%; Gross Domestic Income Dropped by 2.3%
> – Before Inflation Adjustment, Nominal First-Quarter GDP Gained Just 0.3%
> – Pending Trade Data and Revisions Should Help to Set Negative Tone for Second-Quarter GDP and the GDP Benchmark Revision

The government publishes revised numbers long after the initial hoopla has past.  Most investors pay little attention to the revisions… which happen to be more accurate than the initial estimates.  John is our watchman.  To subscribe to his newsletter, go to: www.shadowstats.com

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