Third-Quarter GDP Revised Full Point Upward - WASHINGTON — The economy roared ahead at an astounding 8.2 percent annual rate in the third quarter, the fastest pace in nearly two decades and a much stronger performance than previously thought. It raises hope that a long spell of lackluster business activity is finally over.

The Man without Qualities, Robert Musil, notes that the real story is corporate profits which have risen lustily with the economy. And he dissects crazy Paul Krugman too.