GDP -2Q2011 GDP at +1.3% vs. 0.4% for 1Q2010 (revised down from 1.9%) -This 1st of three readings worse than low expectations -Second revision August 26 -Full report here. -In light of fiscal and monetary policy, this report is dismal -The heart of this report is this sentence: “Real personal consumption expenditures increased 0.1 percent [...]

Starbucks is reportedly adding alcohol to the menu at one of its stores. When asked why, a spokesperson for Starbucks said, “Because sober people don’t pay eight bucks for a cup of coffee.” I wouldn’t either, and given today’s GDP numbers, neither would many others. GDP, which measures the value of all goods and services [...]