Market Watch with Tom Waitt

August_29th_2012.mp3 Economic Growth    Pessimism runs rampant despite improving economic data. U.S. Gross Domestic Product (GDP) in the United States expanded 1.7 percent in the second quarter of 2012 stronger than earlier report of 1.5%. U.S. GDP Growth Rate (Click For Larger Picture) Despite an improving U.S. job and housing markets, consumer confidence fell to the lowest level it's been in several months. The results are the latest swing in the index, which has been on a rollercoaster. Better than expected U.S. Gross Domestic Product (GDP) in the United States Rose 1.7% in the second quarter of 2012 and backs up a series of economic indicators showing improvement. Pending U.S. home sales is at the highest level in 2 ½ years. Earnings are improving with over 60% of reporting companies beating their estimates. Despite recent media attention and suggestions that we are headed into a recession which would be two quarters of negative GDP growth the facts do not support that cal