The Commerce Department has just released its "preliminary" GDP data for Q4 2008. The numbers are bad and much worse than the milder downturn suggested by the "advance" GDP numbers a month ago.
Far be it from anyone to suggest that there is a trend here, which is to soften up people's views of the economy by letting out a bad number and then revising it downward.
If you are interested in receiving Government economic reports directly, without the filter of the MSM, it is easy. You can simply go to www.economicindicators.gov and sign up for free Email dissemination of the data. You may see the numbers before the President!
One day the news will be good, and it may even be truthfully good. For now, the bad news on the economy and the fundamental lack of real asset support for stocks continue to make the basic trend of the stock market lower till proven otherwise.
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