Wow! GDP Forecast Plummets -- Cut Almost In Half From Measly 0.7 To Near-Negative At 0.4 -- April 5, 2016

From GDP Now (a dynamic link):

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2016 is 0.4 percent on April 5, down from 0.7 percent on April 1.

After yesterday morning's light vehicle sales release from the U.S. Bureau of Economic Analysis and the manufacturing report from the U.S. Bureau of the Census, the forecast for real GDP growth declined from 0.7 percent to 0.4 percent due to declines in the forecasts for real consumer spending growth and real equipment investment growth. The forecast for real GDP growth remained at 0.4 percent after this morning's international trade report from the U.S. Census Bureau, as a slight decline in the forecast for real net exports was offset by a slight increase in the forecast of real equipment investment growth.

"Measly": contemptibly small or few.

Meanwhile, Yahoo!Finance has this headline: Olive Garden just confirmed an exciting trend underlying the job market.

The exciting trend: the percent of waiters/waitresses leaving Olive Garden jobs is increasing.

I can't make this stuff up. It's a sad commentary.

And then look at the numbers:

That report also noted that the total quits rate for the month also rose to 2.1%, up from the previous month’s 2.0%, which reflects increasing worker confidence. 

And that's the basis for the headline. What an incredibly lame story.  

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The Kennedy Clan Won't Have Far To Go This Week To See Snow

Speaking of trends, IceAgeNow is reporting:

Sunday’s 6.6 inches of snowfall sets a new record for the snowiest April 3 ever in Syracuse, New York, more than doubling the previous record of 2.5 inches set in 1937.

Sunday also ranks as the fourth-snowiest day on record for the entire month of April in Syracuse. The most was 10.5 inches, on April 2, 2013.

The beginning of a trend? So, the snowiest April day on record occurred just three years ago, and now comes the 4th snowiest April day on record. Are we seeing the beginning of a trend here?

We probably are, but it will never be reported by the mainstream media. They are focused on the Olive Garden "quit rate," surging from 2.0% to 2.1% in one month.

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For The Record

Once an avid Donald Trump supporter, I no longer support him. I don't support Ted Cruz either. At this point I've pretty much lost interest in the primaries, both parties.  I'll still tell my wife that I support the Donald just to drive her nuts.