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| Economy |
| Economic numbers suggest a recession on its way out the door |
| 2020-07-08 |
| h/t Instapundit [WashExam] - ...There are two different things to consider when developing a forecast. For one, modern economies are horrendously complex things, taking centuries to develop. Interrupt them, and we get knocked back years, or potentially decades, and have to rebuild all over again. The other is that the economy stops dead pretty much every Friday night, and we've no great problem starting 'er up again Monday morning. Ultimately, the longer the recession lasts, the more likely we are to have permanent damage, putting us closer in line with 1929 than 1920. An eminent economist is one who can explain why his forecasts didn't work out. ...My own view is that the structure of the U.S. economy accounts for these results. Largely capitalist, largely free market, it's more adaptable than most others. We are seeing, as far as I can tell, a swift recovery from that lockdown-induced recession. It's great news because it means we're all slowly getting richer again as we creep out of the ditch. Enlightened self-interest works (of course the current era is a bit short on enlightened) |
| Posted by:g(r)omgoru |
| #4 Zero Hedge has been predicting this going back many years. Might hit it right someday if it is done often enough. Every blind squirrel finds a nut occasionally. Thought we were just coming out of the COVID-19 recession. |
| Posted by: JohnQC 2020-07-08 14:37 |
| #3 Wait until the DNC number crunchers in the media get a wack at this. We'll be back in the depression before you can spit. Lies, damn lies and statistics is one of the truisms on which modern society is built. |
| Posted by: AlanC 2020-07-08 14:03 |
| #2 Wonder if it is primarily a slow down in Millenials getting new student loans they will never be able to pay off. |
| Posted by: magpie 2020-07-08 12:01 |
| #1 Savings rate climbed (economists always say we don't save enough and then squawk when we do) and people paid down debt. Smart people did, anyway... |
| Posted by: M. Murcek 2020-07-08 09:11 |