It appears that we're growing our way into a panic on the economy. It may be the first recession in history initiated by a 5% annual GDP growth rate. It won't be the first attempted by scare tactics in the run-up to an election. Full Story »
Posted by Kaizar Campwala
While I am intrigued by the question raised of whether we will worry ourselves into a recession, I can't trust this source as a balanced search for an answer, because of the way he cherry picks his data. Even the 5% GDP rate he cites is higher than the 3.1 % previously forcast by the Administration for 2008. His is a curiously timed post, assuring us at 8:28 a.m. that "The growth seen over the last two quarters gives every indication that the Bush-era expansion continues apace." The President's Council of Economic Advisors (CEA) was scheduled to release the administration's semi-annual economic forecast 2 1/2 hours later. And at 11:00 a.m. the Administration lowered its previous estimates to 2.7 %, because as CEA Chairman Ed ... More »
(comment refers to full article) More »
Retrieving Comments
