The BEA has just published its stats on GDP by state for 2008. We show it below. It is worth studying this by region for it is clear that the Great Lakes region is really just going nowhere. The saving of GM by the current Administration is a balance sheet transaction, namely taking GM's balance sheet and moving it to the US Government balance sheet. For the most part this will not save anything and just make things worse. Creative Destruction is a viable alternative and Schumpeter did have some insight here.
Our portfolio is shown below. It demonstrates a flattening of the market reflective of the reduction of uncertainty of a few months ago but not reflective of any true confidence.
Our portfolio is shown below. It demonstrates a flattening of the market reflective of the reduction of uncertainty of a few months ago but not reflective of any true confidence.
Posts
