Saturday, January 16, 2010
January 16, 2010, 3:38 pm
Blip, by Paul Krugman
Calculated Risk beat me to this: the economists at Goldman Sachs are now predicting 5.8 percent growth in the fourth quarter. But they also say that the headline number will be highly misleading: two-thirds of the growth will be an inventory bounce, with final demand growing only 2 percent. In short, it will be a blip. summary
Post, by Dr. Alan Phillips
Paul,
Blips and sprouts will not help the administration face, ameliorate, or fix the economic tsunami we are experiencing in the United States. Until the administration and its allies place job creation and restoration at the top of their list, we will remain on a slippery slope to deeper recession and much higher unemployment consequences. Blips are akin to some of the latest employment data being reported from D.C. resulting in unreliable rhetoric producing false optimism.
Job summits which window dress our economic desperation by modeling optimistic models are not helping with the wakeup call needed for this administration. The nation and the world await this President's emergence from hibernation. Hibernation may be good for a bear (market) perhaps but what we really need soon is a bull (market).
Dr. Alan Phillips
Bloomington, IL
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