Mr. Bernanke emerged from Jackson Hole to declare politicians are unruly and can’t agree. (Shocking no one.) But he also said their bumbling buffoonery is to blame for current US economic weakness. I don’t see it. Yes, they’re a bunch of bumbling buffoons by definition. But we’ve often had buffoons at odds in the White House, House and/or Senate to no lasting economic effect. Don’t forget, in 1995 (like 2011), we had a drawn out debt ceiling debate. Except in 1995, the government did in fact shut down! Egads! And the economy grew fine and stocks were up big.
Plus, everyone wants to see slowing growth in Q1 and Q2 as rock solid evidence of recession ahead—instead of normal growth rate volatility. The US economy normally decelerates sometime in the first or second year after a recovery—just where we are now.
The rest of the article is here.
Plus, everyone wants to see slowing growth in Q1 and Q2 as rock solid evidence of recession ahead—instead of normal growth rate volatility. The US economy normally decelerates sometime in the first or second year after a recovery—just where we are now.
The rest of the article is here.
