GDP REPORT

2nd quarter 2009                      - 0.7%

3rd quarter 2009                        2.2%

4th quarter 2009                        5.6%


1st quarter 2010                        2.7%

2nd quarter 2010                       1.7%

3rd quarter 2010                        2.6%

4th quarter 2010                        3.1%


1st quarter 2011                         0.4%

2nd QT

Advance Estimate July 29           1.3%

Second Estimate Aug 26             1.0%

Third Estimate Sept 29                1.3%

The third estimate was a good surprise. However, the second quarter was not much of a change from the first quarter. Maybe the difference from 0.4% to 1.3% doesn’t really matter --- bad is still bad. I really expected the GDP to be less than the first quarter, only because of trends. IF the 1.3% holds up because it will be revised again, we will again bounce along the bottom.

Wake up America!