GDP shrinks by "only" .3% - DFWstangs Forums
 
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post #1 of 2 (permalink) Old 10-30-2008, 09:53 AM Thread Starter
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Join Date: Jun 2002
Location: Where's my beer?
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GDP shrinks by "only" .3%

Thank God for federal, state and local government spending! Without it it would have been a terrible contraction.

Real personal consumption expenditures down 3.1%
Durable goods down 14.1%
Nondurable goods down 6.4%
Service expenditures up .6%

The hit on nondurable goods (i.e. clothing and such) is the biggest hit since the 1950s.

The overall all consumer expenditure number (-3.1%) is the first decline since 1991 and the weakest number since 1980.

Does this mean I'm down on the economy? Nah. We just need to work through the excess. The line still points up. Probably another bad quarter for the 4th (possibly worse than this one) and a bad number the first quarter in 09 and we'll start to up tick again.

My 401K is now a 400K (was 301K)
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post #2 of 2 (permalink) Old 10-30-2008, 10:29 AM
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Yeah the railroads seem to think the same as you. Business is either flat or down a small amount and they are projecting it to stay that way until the first or second quarter of 09. Not that it matters but even with business down slightly they are still making record profits. Railroads are as bad as insurance companies. They continue to raise rates until they get the profits they want.

TRAIN TRASH it's like WHITE TRASH but with money.

My other vehicle is a Locomotive.

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