Posted: October 30th, 2009 | Author: Maha Rafi Atal | Filed under: Data, Economics | Tags: BEA, employment, GDP, Great Recession, income inequality, recovery, stimulus | 1 Comment »
The wise minds at the BEA say the economy has turned a corner, posting GDP growth at a relatively robust rate (3.5%) in the third quarter, just like Ben Bernanke promised it would.
Still, the fact that we’re rising from rock bottom doesn’t tell us how long it will take to get back to where we were, or what the recovered economy will look like. For that, we need to dig deeper into the numbers, and, simply put, the picture isn’t pretty. Read the rest of this entry »
Posted: September 15th, 2009 | Author: Maha Rafi Atal | Filed under: Business, Data, Economics | Tags: Bernanke, Great Recession, Obama, recovery | 1 Comment »
Before turning in for the night, I feel I ought to join the voices toasting the anniversary of Lehman’s collapse. I’ll leave serious analysis of where we are, and how much remains to be solved, to other bloggers and other days. My thoughts are more mundane.
Yesterday, when the President delivered Wall Street hotshots a
lunchtime lecture about the need for regulatory and compensation reform, I noticed one thing: I was watching CNBC, and the market didn’t blink once during his address. In fact, it seemed to perk up during that half-hour (noon to 12:30), and stay up throughout the afternoon.
That is not to say that Bernanke and Obama going on the conference circuit now has any real economic value, but simply to point out that the non-effects of their speeches show that we are all a lot less jittery, and that’s a good thing.