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

Downbound Again: GDP in 1st Quarter

Yesterday the "flash" estimate for GDP growth in 1st quarter 2011 was released.  Not good. GDP only grew at a 1.8% annual rate, down from the 3.1% we experienced in the 4th quarter of 2010.  This is very disappointing, but not really surprising. Before I comment, I'll let CalculatedRisk report and show one of his … Continue reading Downbound Again: GDP in 1st Quarter

Technology, Growth and Printing Press

We know that new technology and information technology in particular can spark enormous long-run economic growth. Today we're in the middle of an explosion of new info technologies based on computers, networks, and the Internet.  The last time the world experienced a similar phenomenon was probably the invention of printing via moveable type by Gutenberg … Continue reading Technology, Growth and Printing Press