Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: LLCF who wrote (3586)	9/11/2003 2:26:45 PM
From: Eva	Read Replies (2) of 4905

Date: Thu Sep 11 2003 14:00 trotsky (Dr. Richebaecher) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved has completely dissected the 2nd quarter US GDP report, and just as i suspected, found out that the reported growth rate is simply a statistical scam. it can be traced back to two major influences: the one-off spending orgy on defense ( i.e., a waste of borrowed money basically ) , and the hedonic pricing of computers, which as usual transformed nominal spending on computer hardware into a 'real' number 15 times ( ! ) higher. in other words, this growth never happened. it is amazing in this context that NO-ONE in the economic mainstream in the US has even done a cursory critical examination of these numbers. all we heard was mindless bullish gushing. after having read Dr. R.'s analysis yesterday i can once again confidently assure you that there IS NO RECOVERY, regardless of what you hear everywhere. it follows that the recent stock market rally is built entirely on sand.

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