Comrade King,
The S&P, as well as The Market in general, now reacts favorably to bad or neutral economic news. It means that the wholesale theft of citizen's wealth called "Quanitative Easing" will continue. The GDP formulation was changed once Obama took office. The new formula adds approx. 3% of non-existent growth (yearly basis) to the reporting. When you say "4.2%" its really 1.2%, then divide by four since it's for one quarter. So, in reality, the economy grew perhaps one-fourth of one percent for the second quarter. What we have is Stagflation, just like the Carter years. Virtually all the stock market gains have been due to inflation with the monetization of our own debt, all at the expense of the citizenry. It's criminal. Pity you're a Dupe, Comrade King.
http://www.marketplace.org/topics/economy/us-economy-grow-3-under-new-gdp-calculation
