Yesterday I took a stab at describing what the consequences of a government default might be and I added to it here. There's basically three lessons to take away from those questions. One, nobody knows now exactly what happens, especially in financial markets. Two, it all depends on the specifics of a deal or no deal … Continue reading What Happens If Debt Ceiling Is or Isn’t Raised – How It Plays Out (updated)
Day: July 29, 2011
GDP for 2nd Qtr: Economy In “Growth Recession” – Very Bad News
The Bureau of Economic Analysis released the "advance estimate" of 2nd Quarter 2011 GDP growth. The numbers are bad. Worse than most analysts expected. I'll let BEA explain: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate … Continue reading GDP for 2nd Qtr: Economy In “Growth Recession” – Very Bad News
EconProph 