Friday, July 29, 2011

Q2 GDP Huge Miss at 1.3%, Q1 Revised Down to 0.4%!

Unplug your laptop fan for a moment and you can hear the faint sound of printers whirring.  (Or The Bernank's laptop)

Q2 GDP came in at a HUGE MISS today of 1.3%, and Q1 was REVISED DOWN from 1.9% to 0.4%!
Core inflation (minus food, gasoline, silver, gold, etc) printed at 2.1%.  (While real inflation nears 10%)

Even the market now fully understands what this means (QE3 here we come!) as gold and silver instantly vaulted on the news.

As we have stated too many times to count....

QE to Infinity......AND BEYOND!!!!!!