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Old 08-01-2002, 10:46 PM
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Default theyll do it every time

the fed, govt economists and administration singin the happy tune about economic recovery. all of a sudden we learn yesterday that last years gdp numbers revised down and we had 3 consecutive qtrs of neg gdp growth. 1st qtr gdp revised down to 5% from 6.1%. 2nd qtr gdp growth 1.1%. now given the constant over optimistic numbers from the feds it looks like it might be smart to revise the 1.1% positive growth down to 0% or maybe even negative. well all of a sudden this "recovery" aint lookin all that good certainly not as good as administration, govt economists, and fed making it out to be. greenspan in recent testimony to congress had 3% positive gdp growth in the second half of the year. looking at yesterdays numbers looks like hes way off to me. sometimes i wonder if hes lyin, doesnt have a clue or both. got to reevaluate tonight. i dumped csco early in the week probably sunw and emc tomorrow. i know looking at past numbers is lookin in the rearview mirror but im wonderin if we just need to revise downward because govt gdp numbers are overly optimistic always. im really one teed off investor tonight.
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