GDP blowout?...........from Rico

If you believe the Minsitry of Truth and the Guv'mint, 4Q 2009 saw a GDP blowout of 5.7 percent to the upside! Whee! Happy days are here again!

Right.

This is exactly like running up the balance on your credit card and bragging about how much "richer" you now are!

If GDP was calculated like a "balance sheet" you'd have to subtract the increase in liabilities
...but gummint doesn't do things that way.

Wait for the later 'stealth' revision of this aazing number. Downward.
- How many remember the breathless announceent of 3Q 2009's GDP increase of 3.6 percent (much less its late downward revision to 2.2 percent) or noted this was an 'adjustment' of 38% to the downside?

Anyone who believes the statistics and numbers coming out ot today's gooberment is an idiot.

And just for fun, speaking of "balance sheets" here is what the FED's balance sheet looks like today. Like a fat ass, it will only get bigger and bigger. This chart absolutely screams "buy dollars, NOW!" does it not?
- Worth noting: foreign holdings are decreasing.