Kevin "Dow 36000" Hassett thinks Q1 GDP Growth will help Bush

[swag]

This perennial econo-wanker seems to have forgotten that Q4 2005 GDP growth was anemic.

http://quote.bloomberg.com/apps/news?pid=10000039&cid=hassett&sid=aVcUvt0aaV58

Feb. 21 (Bloomberg) -- Reeling from bad publicity and diminished expectations, the Bush administration is about to get a much-needed shot in the arm from the economy.

Booming consumer spending and a slew of other positive indicators suggest that gross domestic product will post one of the largest gains in recent memory in the first quarter. Wall Street is buzzing about the skyrocketing output, but it may matter more to Washington, which has only begun to take notice of the big news on the way.

David Malpass, chief economist with Bear Stearns Cos. in New York, wrote in his commentary last week that ``first-quarter GDP growth is setting up to be a blowout.'' He added that ``consumption, investment, government spending and residential investment are all, at least through mid-February, looking even stronger than our 5 percent first-quarter growth forecast.''

Morgan Stanley's Dick Berner said he also sees a big number coming. Berner cautioned, however, that weather and other temporary factors are playing a big role in the first-quarter rebound. He feels that the underlying trend is for ``slightly above-trend growth,'' which still poses inflation risks.

. . . more raving at the link.

[htuttle]

1. I get spam emails that sound like this article

"Don't miss this Exciting Investment Opportunity!"

"Get in on the ground floor!"

[swag]

2. Nicely put. Sad that Bloomberg gives a platform to both this guy

and his partner in that disastrous book Dow 36,000, Jim Glassman. Glassman doesn't have a column, but he's sourced in almost every Caroline Baum piece.

At least Anthony Sperling and Margaret Carlson are there to keep a leash on these panting nitwits.

[Lasher]

3. This is SOP for the pukes

One decent quarter and it's "See, the tax cuts are working!" Luckily, we don't have to listen to this too often. There's just not been that many good quarters.

[BlueEyedSon]

4. I guess if the value of the dollar dropped 70%, the Dow would be 36k

[bridgit]

5. but if a 36,000 dow is a good thing why not a 360,000?

in a paper market, why not go for baroque :shrug:

[swag]

6. Sky's the limit!

And why should it be a number rather than a color or a flavor?

[bridgit]

7. sure, or maybe a handle similar to the Daman Wayans stand up...

routine where he mentions "drinks should be based on what life is all about! 'sex on the beach', ain't nothing till you've had an 'all night sex with a one eyed midget'!!" :rofl:

i think wall street should follow suit