Wednesday, April 29, 2009

GDP forecasts

Here is the 2009 GDP forecast by Wall Street

Morgan Stanley -3.3%
Merrill Lynch -3.1%
Goldman Sachs -3.2%
JPMorgan -2.6%
IMF -2.8%

If the forecast isn't green, don't buy it!

Now last Friday, we had the Economist magazine with their anglerfish, ready to swallow anyone not believing in doom.

Three trading days later, we have a quasi reflective backpedal flip flop from these folks, with this article, "Better than it looks?"

USA GDP was down 6.1%, but consumer spending was up 2.2%, inventories were down huge, and defense spending was down 4%. It was better than it looked!

Maybe the world discovered that the ferocious anglerfish was all of two inches!

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