STILL B & B

For a different reason today.  The GDP figure for the U.S. economy came in at a -0.1% and we we actually told this was the best negative number your could possibly get.  'It's a sucking chest wound says the doc but it's not serious."  One of the reasons given for this curious opinion was that the wars we have been fighting are winding down.  Translation:  We can always start another war?  Another reason was government spending was down 22%  Translation:  We know how to spend money in the government.  Hell, we can hire a million people to dig holes and another million to fill them up.  Or we can start another war...can't we?  Inventories were down.  Translation:  What the hell does that mean?  People were purchasing things?  In case you missed it guys Hanukkah fell in this quarter.  I even heard that we might still have Christmas.  Inventories always go down in the fourth quarter.

I really think that what none of the geniuses will admit is that this makes it harder for the Fed to take the punch bowl away and from where I sit this incredible stock market rally is entirely central bank led.  Then again, Apple that makes more money than anyone has ever seen and seems to holds on to all of it is in the crapper on the street and Amazon which makes no money at all is loved by all.  At least there is consistency out there, at least in my eyes as either everything is upside down or I'm standing on my head.  To be honest, I'm not the least bit sure.  I guess we'll just have to wait 3 months to confirm the direction this is taking...of course by that time we will be in the middle of a God-awful budget fight which will be used as an excuse by all sides in explaining/defending/promoting their respective positions on wither the economy.  Can't wait

Anyway, I'm glad I have this to write about because there aint nothin' of interest out there.  It has been remarkably quiet with the battle over anti gun legislation overtaking everything in the Congress.  Over there, not much is new except that Euroland just may have dodged a bullet in regard to Cyprus.  As suggested almost to the point of a prediction, Russia announced the other day that it would assist in any Cypriot bail-out.  Guess the Oligarchs lined up outside Putin's office and said something to the effect, " That's our money down there.  Fix this thing or else."  With those kind of numbers in that kind of country not even Putin is entirely in the clear.  Old Damocles found that out a couple of years ago.  Some people just never learn.