A surge of private sector layoffs in July may suggest that the economic recovery is stalling. Former top White House economist Larry Summers warns of “at least a 1-in-3 chance” of falling back into recession.
Keith discusses what’s next for the U.S. economy with New York Times columnist Paul Krugman
Hat tip Mike R
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
The best way to keep money in perspective is to have some. —Louis Rukeyser
"It's the end of the world as we know it and I feel fine" say the French as consumer confidence in May rose to the highest since Nov '10 as they welcome and get excited about new Pres Hollande. Also, the French 10 yr bond yield touched the lowest on record this morning. June consumer confidence in Germany held at 5.7, just .2 pts off the highest since Mar '11. To the euro bond debate which is now taking on greater rhetoric with those with high bond yields wanting them and those with low ones saying no way, ECB member...
read more »
Tweet
Facebook
Reddit
Digg this!
August 4th, 2011 at 1:45 pm
Marty Feldstein of the NBER says 50-50 chance of a recession.
Some analysts (e.g., EPI, JPMorgan) say the end of the payroll tax holiday, no extension of unemployment insurance and to a lesser extent to spending cuts from the debt ceiling deal, will create a fiscal drag of approximately 1.5% of GDP. Given that GDP grew at 1.3% of Q2, that’s not good. Recent stock drops and drops in treasury yield (10 year under 2.5% at the moment) reinforce this view.
Rather depressing.
August 8th, 2011 at 12:43 am
So, if Obama had only listened to Krugman, things would have been just humpty-dory? Now he actually has the gal to blame Obama? Isn’t there enough blame to go around? This stuff has been festering for decades, the boil is finally ripe and ready to explode. Not that Obama is blameless, but please! This reminds me of my Grandma sighing every time something bad would happen in her native city of Lvov (now in Ukraine) and someone would of course, invariably blame it on the Jewish community, she´d say in Yiddish: Goy kill Goy, blame Jew!