Well, I finished ONE class - 90 students - I know, I am slow but they deserve me spending the time on their exams, it's my way.

I saw the latest revision in Real GDP last night about 10:30 pm and decided I needed to "hit the hay" as 4:30 am comes early and I need to get ready for giving the final, final exam!!  (They say "invigilate" here - although it didn't seem like I even needed to be at the Intermediate Macroeconomics final exam.  There were three invigilators for each of the classes - I have two sections.  All classes of the same type take their exams at the same time.)  Still I wanted to be there and watch the level of cheating - not too bad - and pick up the exams, etc.  Moral support if nothing else - YEAH, SURE - some of you say (former students) - more like ...?!!!)  grin.

Anyway, Real GDP - no shocker, down 0.5% so revised lower by 0.2%.  Too much other news - like the $800 billion for consumers, see next post.  Housing price report - they're down again, consumer confidence - up!  but from the lowest since the survey began in 1967!

Bloomberg.com's article states that consumption is down for the first time since Jimmy Carter was President and the Trade Gap narrowed making Real GDP fall by less than expected - remember September trade data is estimated.

All in all, not a tough day given the past month and a half.  I read yesterday that volatility during October was only surpassed by one month, November 1929!!!  There's an indication of how much of a roller coaster we have been on!

More ramblings, I am to teach Financial Markets and Institutions next term.  Do you see any way to teach such a course WITHOUT FIRST teaching about the Central Bank (Federal Reserve in the U.S.A.)???!!!!  I don't - but I am SUPPOSED TO!!!  Weird - guess I'll have to try to fit it into the already tight schedule!  I ALWAYS talk about the Fed, right!??!