tag:blogger.com,1999:blog-14963913.post6651886186553846697..comments2023-10-27T20:27:57.900-04:00Comments on Kid Dynamite's World: Q3 GDP Revised Lower Again - But No One CaresKid Dynamitehttp://www.blogger.com/profile/17475987512856310577noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-14963913.post-51805276383668051642009-12-23T10:21:35.681-05:002009-12-23T10:21:35.681-05:00I wonder how much of the 3.5 Number could have bee...I wonder how much of the 3.5 Number could have been a publicity stunt I haven't looked enough at the releases to know though. Will be interesting to compare the Q3 Revisions with the Q4 ones.GS751https://www.blogger.com/profile/12104712741442133837noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-35490035984097566402009-12-23T01:28:25.051-05:002009-12-23T01:28:25.051-05:00While I'm not a professional trader, most of w...While I'm not a professional trader, most of what I've read states that the public hasn't returned to stocks in any degree. Rather it's mostly the high frequency trading and other well monied entities that now support the markets rise. That sounds plausible to me. Thus, this amping up the market over virtually any excuse seems par for the course ... for these times.<br /><br />Certainly I'm not buying stocks. Not even tempted. But then, the stock market appears to have found a life beyond the individual investor. Whooooo... zombies are scary stuff. Who's to say how long they can carry on. We're in uncharted territory.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-34615875857325220122009-12-22T12:48:45.636-05:002009-12-22T12:48:45.636-05:00Two points:
1. If the last quarter gets revised d...Two points:<br /><br />1. If the last quarter gets revised down, that leaves more points to pad onto the upcoming quarter's number. Green shoots, baby!<br /><br />2. Is there anyone still buying stocks for the<br />long term, or is it only day traders and GS<br />now? I'd guess we lean more towards the<br />later, which means the stock market has<br />nothing to do with anything...it's just the<br />trading tide, going in and out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-50038722824130093512009-12-22T10:24:50.915-05:002009-12-22T10:24:50.915-05:00@maynardGkeynes - absolutely. but as you say - if...@maynardGkeynes - absolutely. but as you say - if we're going to use the "bad data is good because it means longer duration of ZIRP" argument, then you have to use that same argument on the initial GDP print of 3.5%!<br /><br />i think that the spin machine has won the game - and that people just don't care about the revisions.Kid Dynamitehttps://www.blogger.com/profile/17475987512856310577noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-12196892175489713262009-12-22T10:22:40.000-05:002009-12-22T10:22:40.000-05:00the ads were WAY more of a sellout than the tip ja...the ads were WAY more of a sellout than the tip jar! but they shut me down on that front!Kid Dynamitehttps://www.blogger.com/profile/17475987512856310577noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-21515121583187766052009-12-22T10:22:28.489-05:002009-12-22T10:22:28.489-05:00Perhaps the market is saying that this makes it mo...Perhaps the market is saying that this makes it more likely that the FED will keep interest rates low for a longer period. Given the impact of ZIRP on bubbling up asset prices, the reaction to this "negative" news doesn't surprise me anymore. Then the issue, as you say, is why does the market pop when the news is "positive," which makes it more likely that the Fed will have to raise rates sooner than otherwise. It could be that the implications for higher earnings, which are positive for stocks, outweigh the negative implications posed by rate hikes. The difficulty is quantifying in some sense the relative magnitude in either direction, positive or negative, of any particular piece of news. You could say the reaction is "irrational" only after you have done this. Otherwise, you'd have to assume that that is exactly what the market is doing, behind the curtain so to speak, and that it is not irrational at all. Isn't that kind of calculation what markets do better than our puny human brains?maynardGkeynesnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-49758078004060365882009-12-22T10:11:45.266-05:002009-12-22T10:11:45.266-05:00It was only a matter of time! A effing tip jar. ...It was only a matter of time! A effing tip jar. Sellout.BigShownoreply@blogger.com