"We sold our oil to the futures market aka. Cushing Oklahoma. We had to make the quarter somehow..."
Inventories - sales:
Stunned dunces are constantly "shocked" by reality. The same jackasses who worship markets like fake idols, suddenly stop believing them when they convey bad news...
"These GDP (numbers) make no sense. We can count jobs, and job growth is not at all consistent with measured GDP growth," said Mark Zandi, chief economist at Moody's Analytics, in a note."
The Atlanta Fed has its own "real-time" GDP tracker that is adjusted with each incoming data point, up until the end of each quarter i.e. Thursday:
It just collapsed down to .6%, based on the last few data points:
Who knew?
Bank stocks knew, since they usually peak coincident with GDP:
Consumer staples knew, since they usually peak AFTER GDP peaks:
Go back one month...
"Markets Are Always Right. Except Now..."
Barron's, Feb. 20th, 2016:
What Recession? GDP Set to Grow 3%
"The gloomy stock market notwithstanding, economic growth in the U.S. could be the best in years."
