Six Numbers

Today several economic stats were brought to my attention. The first is the GDP. For the second quarter of this year (2008) it is estimated to read a rise of 1.9% (revised to 3.3%). Much of this is accredited to the stimulus package that was mailed throughout May and into June. I used mine to pay bills and I suspect others either did the same or saved it (savings rate increased from 0.3% to 2.6%). The second is the GDP for the fourth quarter of 2007 which was revised to a contraction or shrinkage of 0.2%. The third is Exxon Mobil made a profit of $11.68 Billion in the quarter. Yes, in the quarter, not the year, the quarter. That is $1,485.55 a second. And as much as that is unreal for the investors, there is one person that might have that beat. He just got traded to the Los Angeles Dodgers. Manny Ramirez makes $13,000 an inning. That is less than Alex Rodriguez’s $20,000 an inning, but A-Rod lives with the pressure and attention. Granted, both are extremely talented at what they do but guaranteed contracts enable Ramirez to get traded and not fired. Manny Ramirez making one out is the same as a nuclear family with three kids getting a once a decade stimulus check – $2100.

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