GDP: All That Talk Of 3.5% Or Thereabouts. Not To Be: A Good But Not Great Number: 2.5%

At least it's believable. Unlike some numbers we've been getting out of Washington lately. Will it be revised up or down?

CNBC guest:

• consumption number strong, but not going to last.
• inventory build: likely picked up; also not going to last

The CNBC folks didn't sound too excited. But it sure beats what is going on in Europe.

Rick Santelli points out something we forget: the underground economy. 

Actually I'm very happy with the number. It's believable. It's sustainable.