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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (1768)11/3/2003 12:12:00 AM
From: ild  Read Replies (1) of 110194
 
John P. Hussman, Ph.D.
Deconstructing GDP

hussmanfunds.com

In short, the GDP report was a ball of fire ignited by a big can of one-time tax credits and another big can of cash-out mortgage refinancing. Consumers received a bunch of lump-sum distributions and spent them on consumption goods, autos, and housing. To expect this spending to continue in the absence of such distributions requires very strained analysis.

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