December 17, 2008
The Illusion Of Prosperity Ends
Every day brings more examples of the failed strategy of fostering economic growth through the use of easy credit. Modern economies need credit to grow and prosper. Applying credit growth on an exponential basis ultimately fails when borrowers become so leveraged that any hope of repaying their debts becomes impossible.
The Illusion of Prosperity is NOT over until I say it is over. Muhahaha!
Q2 GDP Tracking: Solid Early Look
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From Goldman:
We lowered our *Q2 GDP tracking estimate by 0.1pp to +3.3% (qoq ar)* and
our domestic final sales estimate by the same amount to +2.7% (qoq ...
3 hours ago
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