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January 30, 2004

Camping out at Max's place

Max at MaxSpeaks is my kinda economist, fa shizzle.

COOLING TREND GDP growth this past quarter is down from 8.2 to 4.0 percent (annualized). Here's EPI's run-down. Overall real growth for 2003 is 3.1 percent. That's in line with long-run averages, but we could have expected more in a period of "recovery." Note that we can have GDP growth without employment growth. The employment report for January will be out next Friday.

The greater the growth of inequality, wage stagnation, and labor force drop-outs, the less I care about GDP. Overall growth is only good if the bounty is shared. I'll have more to say along these lines in coming weeks, once we do a tap dance on the Administration's budget release next week.

I am seriously looking forward to the coming weeks.

Posted by P6 at January 30, 2004 04:30 PM
Trackback URL: http://www.niggerati.net/mt/mt-tb.cgi/194
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