Gee, and We Thought We Understood Economics.

Another view of the latest GDP report: Larry Kudlow on First Quarter 2005 GDP on NRO Financial. I haven't a clue about whether he is right or wrong. However, when I drive up Broad Street, I don't see much signs of the next, great depression around the corner. House sales are at an all-time high, personal income is up and people, at least in Richmond, seem to have plenty of spare cash for nice new cars, eating out and other things. Even the 2.03/gallon gas at Sam's doesn't seem to decrease the number of cars in the 5 PM drive down Broad Street.