gdp

Evolution of estimates of US GDP for Q1 2015

See the mystery of US GDP, and understand ourselves better

Summary: It’s the simple things that provide a mirror in which we can see ourselves, and the roots of America’s problems. Such as this graph showing estimates of US GDP for Q1 2015 — getting more accurate with each revision. This graph shows estimates of GDP for Q1 2015 made by the Bureau of Economic …

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The secret but vital to know number in today’s economic news

Summary: Economists get excited about aggregate GDP (today’s hot economic news dot). People — you, me, our neighbors — care about per capita GDP. GDP that grows along with the population does nothing for our standard of living, (and less than nothing if the 1% cream off most of it). It is important to us, …

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The ugly news about the US economy, unmentioned in Campaign 2016

Summary: Friday’s news about Q2 confirmed that America is mired in secular stagnation. Here is the worse news, unmentioned in the newspapers. It should electrify Campaign 2016, giving it real meaning — beyond the circus of personalities. That will happen only if you see what is happening and act. If each of us as individuals …

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The mystery of the US economy at stall speed

Summary: Since 2012 the idea of a “stall speed” to the economy played a prominent role the almost incessant predictions of an imminent recession. Since then the US has cruised at or below stall speed without a downturn. This is rich with lessons for us — about the danger of believing untested theories, about overconfident …

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