While everyone wrings their hands about Armageddon part II, today the Fed minutes showed an upward revision in estimates for GDP in the US. Of course, this was before Europe puked. So, is it possible that are we all standing on the edge of a new collapsed era? Sure, but….
The minutes showed that FOMC participants now expect real GDP to increase by 3.2 to 3.7 percent in 2010 compared to the 2.8 to 3.5 percent growth forecast in January. Looking beyond 2010, however, the projections for real GDP growth were unchanged.
So what do you do with this information? I dunno. Probably nothing…
What am I doing with this information? Writing a blog post. That’s about it. See, I’m not active trader, I don’t try to prognosticate. I gave that up years ago. Of course, I also went to wilderness survival school in my younger years so when people freak out about the end of times, I kinda don’t worry.