TGIF – Yesterday’s Fake GDP Number Allow Windows to Be Dressed

August 28, 2015 at 08:31 AM EDT

Oops, sorry, I'm not supposed to do this. Sometimes we know things in advance and we are not allowed to talk about them until the data is release and Personal Income and Spending reports don't come out until 8:30 but we already know Personal Income and Spending are heading lower, not higher as expected, because it's right in yesterday's GDP Report , which shows Real Annualized Per Capita Disposable Income at $37,843, which is down $3 from the last estimate, not up at all. Overall Gross Domestic Income (GDI), which includes our Corporate Masters, increased just 0.6% in the 2nd quarter, compared to 0.4% in the first half. This does not seem like the kind of number that would lead us to have a MASSIVE upward revision in GDP – from 2.3% to 3.7% in the second estimate and up 3.1% (400%) from Q1's anemic 0.6% growth rate. Category Q2 Q1 Q4 Q3 Q2 GDP 3.7% 0.6% 2.1% 4.3% 4.6% …

Oops, sorry, I'm not supposed to do this.

Sometimes we know things in advance and we are not allowed to talk about them until the data is release and Personal Income and Spending reports don't come out until 8:30 but we already know Personal Income and Spending are heading lower, not higher as expected, because it's right in yesterday's GDP Report, which shows Real Annualized Per Capita Disposable Income at $37,843, which is down $3 from the last estimate, not up at all.

Overall Gross Domestic Income (GDI), which includes our Corporate Masters, increased just 0.6% in the 2nd quarter, compared to 0.4% in the first half. This does not seem like the kind of number that would lead us to have a MASSIVE upward revision in GDP – from 2.3% to 3.7% in the second estimate and up 3.1% (400%) from Q1's anemic 0.6% growth rate.

Category	Q2	Q1	Q4	Q3	Q2
GDP	3.7%	0.6%	2.1%	4.3%	4.6%

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