Hello from Texas! I've got most outstanding news to report today! I had to break away from my normal routine to post this short update.
"US GDP EXPANDS AT 5.7%" and yes I am shouting!
Mission is NOT accomplished yet with the recovery, but it is apparent that the economic recovery is in full swing. Consumer confidence and the Purchasing Manager Index are expected to show strong upticks. There are still a lot of people in the world that are unemployed or underemployed and until they secure suitable sustaining employment, the recovery will not be complete. People matter most.
Just a brief primer on GDP - GDP is a trailing indicator that measures a countries Gross Domestic Product - the sum total of all FINAL goods and services produced within a country and the GDP can be used benchmark country vs. country and also is used to define recessions and expansions. Two consecutive quarters of declining GDP is the typical definition of a recession.
You may note that I'm not in Houston for the AFS Texas meeting. The stage coach to Houston today didn't make the run because of the vile weather in the state. I'm at the point in my life of not taking unnecessary risks and driving in this kind of weather - sloshing my way to Houston is not an acceptable risk. There will be other AFS Houston meetings to attend and I'd like to be around to attend them. I tend to be a "risk avoidance" type of person.
Till next time, see you on down the road in Birmingham Alabama!
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