Have you ever heard those words before? No, me either

One of my "must read" newsletters is written by John Mauldin and it's called – appropriately – John Mauldin's Weekly E-Letter. I get it each week in my inbox; I suggest you do the same.

I will caution you, however, that it may scare the pants off of you! Lately (the last few years), his commentary has been rather harsh. But, hey, look at the economy!

All that said, I encourage you to read this week's letter. One astonishing number came out this week: GDP growth of 5.7 percent! Yay, roll out the marching band and dancing monkeys, the recession is over!

But wait.

The Statistical Recovery Has Arrived

Before we get into the main discussion point, let me briefly comment on today's GDP numbers, which came in at an amazingly strong 5.7% growth rate. While that is stronger than I thought it would be (I said 4-5%), there are reasons to be cautious before we sound the "all clear" bell.

First, over 60% (3.7%) of the growth came from inventory rebuilding, as opposed to just 0.7% in the third quarter. If you examine the numbers, you find that inventories had dropped below sales, so a buildup was needed. Increasing inventories add to GDP, while, counterintuitively, sales from inventory decrease GDP. Businesses are just adjusting to the New Normal level of sales. I expect further inventory build-up in the next two quarters, although not at this level, and then we level off the latter half of the year.

Did you catch that? If not for the build up of inventory, our economy grew by only 2 percent. And we know these things ALWAYS revise DOWN.

Read the rest of the letter here. I think you'll learn a lot; I always do.

These facts suggest that it was a serious economic mistake to press for a hasty, major transformation of the U.S. economy on the heels of the worst financial crisis in decades. A more effective approach would have been to concentrate first on fighting the recession and laying solid foundations for growth. They should have put plans to re-engineer the economy on the backburner, and kept them there until the economy emerged fully from the recession and returned to robust growth. By failing to adopt a measured approach to economic policy, Congress and the president may be slowing the economic recovery, and thereby prolonging the distress from the recession.

I couldn’t agree more! Read the whole story. It’s another case of the government trying to set an agenda before it determines the best course of action. I’m getting really tired of this!

For at the end of the day, business is selling and all of selling’s associated components.

Plus, if you’re currently looking for work, it’s not a bad idea to fill in that resume. Hiring managers and HR folks get turned off pretty quickly by unemployment gaps. A seasonal job addresses this concern.

10 Companies Hiring for the Holidays : The Work Buzz

To me, liberals want change for the better (whether that occurs or not in practice is another story) while conservatives just want status quo. What do you think?

Here’s a modern-day analysis of Keynes’ policy prescription. What are your thoughts?

Keynes’ efforts were motivated by a strong desire to maintain the liberal capitalist order. Honest conservatives have always understood this. In 1945, economist David McCord Wright noted that a conservative political candidate could easily run a campaign “largely on quotations from The General Theory.”

Keynes Was Really A Conservative – Forbes.com

1. New Car
When: November or December
Why: Don’t, as many experts advise, buy this year’s model in late summer when next year’s models hit. There’s a year of depreciation on it already. Instead, wait a few months and buy the new model late in the year, when dealers are antsy to hit their year-end numbers. “Look for the vehicle in the far corner of the lot that hasn’t been washed,” suggests Jack Nerad, the executive editorial director for Kelley Blue Book. That means the dealer doesn’t consider the car a profit maker.

4. Jewelry
When: Monday morning, in summer
Why: You’ll be the only customer. “You can always save 10 percent on jewelry,” says Ken Gassman, president of the Jewelry Industry Research Institute. “But you can save as much as 20 percent if you negotiate when you’re alone.”

5. Clothes
When: January 31 or August 31
Why: “Retailers are looking to make their monthly sales numbers and clear inventory to make room for new spring or fall lines,” says Marshal Cohen, chief retail and fashion analyst with NPD, a research firm. Shop when the store is empty and you’ll save up to 75 percent, Cohen says.

Get the whole list at Men’s Health Lists : MensHealth.com
Technorati Tags: learn to bargain, haggle, shop, bargain, get a deal

Man, I’m glad I figured out how to turn that back on!

Happy Father’s Day!

The Official Computer Monkeys Blog: Save Some Green

I originally saw this story on Seth Godin’s blog (which I read frequently), and checked out the links he provided. I suggest you do the same.

It’s despicable how businesses do this and even more reprehensible that our government, intent on tracking down baseball players who take steroids and AIG executives handing out bonuses to employees, doesn’t seem to do a damned thing about it.

Scamsters – An Alert to Businesses – Universal Ad CON
Map scam targets local Chamber members: Times Argus Online

“As I move close to the edge of death, I find myself getting more cheerful about the economic future,” Mr. Munger said.

Mr. Munger sees “a final breakthrough that solves the main technical problem of man,” he continued.

By harnessing the power of the sun, electrical power will become more available around the world. That will help humans turn sea water into fresh water and eliminate environmental problems, Mr. Munger explained. “If you have enough energy you can solve a lot of other problems.”

Business-Musings-From-Woodstock-for-Capitalists: Personal Finance News from Yahoo! Finance

If you do NOTHING else this month, read Berkshire Hathaway’s Annual Report.