Morning Market Report

The Provocateur ^ | 08/11/2009 | Mike Volpe

[fiscon1]

There is breaking economic data news. The June trade numbers came out and the trade gap widened.

The U.S. trade deficit widened in June to $27.0 billion, as goods imports increased for the first time in 11 months on the back of higher oil prices, a Commerce Department report said on Wednesday.

[jveritas]

Do not worry. The Goldman Sachs market will not be phased by the negative reality. The biggest fake market bubble in history shall continue until it explodes and destroys the fortune of millions of people with it. And Goldman Sachs will make money even then.

[MikeWUSAF]

Finally, according the Wall Street Journal, 59% of economists surveyed say the recession is over and more than 9 in ten credit the Fed Chairman Ben Bernanke and would like to see him nominated for another term.

The infusion of government cash and business benefits from slimming down is keeping the lights on. This may carry over into Q3 but will fizzle out in Q4 and Q1 as now new jobs are created and more exhaust their unemployment benefits.

Harvard’s Feldstein Sees Risk of ‘Double-Dip’ Recession in U.S. http://www.bloomberg.com/apps/news?pid=20601087&sid=a3IpfKeeveVM

[MikeWUSAF]

now new jobs = no new jobs

[autumnraine]

But the news says ALL economists are in agreement, the recession is over.

Of course they may be right. The recession is over and turned right into a depression.