Thursday, May 26, 2011

Q2 2011 GDP Looking Weak

Bad news from Macroadvisors. Looks like the Q2 GDP numbers are looking very soft.


According to Brad DeLong
That means that it is:
  • Time for Quantitative Easing III...
  • Time for pulling more spending from the future forward into the present, and pushing more taxes from the present back into the future...
  • Time to use Fannie and Freddie to (temporarily) nationalize mortgage finance and fix the ongoing foreclosure crisis...
  • Time for a weaker dollar...
None of which we're likely to get from the Tea Party crowd in charge in Washington. Their Galtian commanders would not approve.

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