Friday, February 25, 2011

GDP Disappoints, But Stocks Skyrocket Anyway

"Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.8 percent in the fourth quarter of 2010, (that is, from the third quarter to the fourth quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.6 percent."

GDP was revised downward from 3.3% previously.

News is now irrelevant. Information is now irrelevant. We have printed prosperity now!