Obama expects GDP data will show contraction

[ASusilovic]

WASHINGTON (MarketWatch) -- President Barack Obama said Thursday he expects data due out Friday morning about gross domestic product will show that the economy contracted in the second quarter. However, Obama said recent economic indicators show that the economy has "stepped away from the precipice" and that fears about a depression have abated. But job losses are still "a huge problem," Obama said. Economists surveyed by MarketWatch are expecting growth to decline by 1.2%, annualized, in the second quarter.


http://www.marketwatch.com/story/obama-expects-gdp-data-will-show-contraction-2009-07-30-1632270

Thank you Mr. President for the upfront news !

 

[ByLoSellHi]

Remember when he said to "buy stocks?"

This is essentially the opposite.

He can say he warned people when the crash happens.

 

[Clubber Lang]

Quote from ByLoSellHi:

Remember when he said to "buy stocks?"

This is essentially the opposite.

He can say he warned people when the crash happens.

So basically Obama is Cramer. No matter which way the market goes he can say he was right.

 

[ASusilovic]

Quote from ByLoSellHi:

Remember when he said to "buy stocks?"

This is essentially the opposite.

He can say he warned people when the crash happens.

Barack-ometer...