Data released today shows that the Q2 Final
GDP fell short of meeting expectations as it came in at 1.3%
versus 1.7%.
The graph below shows that it's generally been in
decline from its peak in December 2003. For the past three years, it's been well
below the average seen from 2004 to 2008…proof that the Fed has kept
the markets artificially inflated since they are currently trading back
up at 2008 levels, or much higher as is the case in the Nasdaq 100 Index,
without the fundamentals to support current prices or continued growth
expectations at the same pace, particularly without the assistance of joint
political economic efforts/policies, as has been the case to date.
Precisely, how the Fed's latest QE program of buying Mortgage-Backed
Securities will help this situation any time soon, if at all, leaves me baffled
and wondering where the markets are headed.
Orders plunged dramatically from 3.3% to -13.2%, while
Core Durable Goods Orders dropped from -1.3% to
-1.6%, as shown on the graphs below…data which confirms a
slowing of demand, not an expansion.
It seems fitting that
this data is reported in this, my 666th blog post! (Editor's Note: Beelebub is appearing all over Slope! Get thee behind me, Slopers!)
