GDP goes negative for the first time during this 'recession'

[PaceAdvantage]

The recession started over a year ago, or so some claim, and yet the third quarter of 2008 saw the first negative GDP number.

The advance number on GDP for the 3rd quarter came in at -.3%

Just posting this in case anyone thinks I only post good news.

[ddog]

this qtr will soon be looked at as good news , i fear.

[Valuist]

The only reason the 2nd quarter wasn't negative was the government surplus checks. I don't know why they didn't take that into account, yet they are happy to make all kinds of exclusions in their bizarro world numbers.

But this is no "one-off" incident. Hopefully the economy will turn around by the last half of 2009 but that is no lock by any means.

[OTM Al]

And the more important measure, per capita GDP has been in a pretty sad state for a while

[chickenhead]

I'm probably going to be buying some gold soon, DGP double gold long fund. I'd like to get in between $600-$650, hoping we get there.

Now I've heard three times now, from different people, and as rumor only, the possibility of a Volcker appointment to Treasury if Obama gets in, for an abbreviated term to help settle things down. I would cheer that, and I would be slightly less enthusiastic with regards to gold.

But regardless, I think we'll have a bias towards the printing presses, just differences of degree.