businessweek.com - 10/30/2009
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By overlooking cuts in research and development, product design, and worker training, GDP is greatly overstating the economy's strength
econbrowser.com - 10/30/2009
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econbrowser.com —
The Commerce Department reported today that the seasonally
adjusted real value of the nation's production of goods...
and services grew at a 3.5% annual rate during the third quarter, a little better than the 3.2% average seen since 1947. ...
(more)
A welcome GDP report
baselinescenario.com - 10/30/2009
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baselinescenario.com —
Yesterday morning I testified to a Joint Economic
Committee of Congress hearing. The session discussed the latest...
GDP numbers, the impact of the fiscal stimulus earlier this year, and whether we need further fiscal expansion of any kind. I argued that a global recovery is underway and in ...
(more)
Baseline Scenario, October 30, 2009
krugman.blogs.nytimes.com - 10/30/2009
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krugman.blogs.nytimes.com —
The good news from the new GDP report
is that the fiscal stimulus seems to be working...
just about the way a sensible Keynesian approach says it should. That's also the bad news. f
(more)
Stimulating thoughts, 3rd quarter edition
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Friday morning links
The Mess That Greenspan Made —
... Cashin: Markets Will Rally if Dollar 'Behaves' - CNBC Gold over $1000 and still no gold bubble - iTulip ECONOMY Personal spending falls 0.5 percent in September - Reuters White House fights back on Cash for Clunkers - Bloomberg Pop-up stores help fill mall space during economic slump - USA Today America's economy: A joyless recovery - Economist How much has the stimulus done? - MarketWatch The GDP Mirage - BusinessWeek INTERNATIONAL Central banks chill asset rally - ...
"The GDP Mirage"
Marginal Revolution —
The story, by Michael Mandel, is here. Excerpt: While the statistics don't account for it, there's good reason to
suspect intangible investments are falling. Companies are under
pressure to cut costs by reducing R&D expenditures and deferring
other crucial intangibles, notes Hulten. "Because these are expensed,
it looks like a pure win," he says. "You are not seeing the benefits of
the intangibles in the financial statements—only the costs."
There is much more of interest in this article.
BusinessWeek on the GDP Mirage
Mish's Global Economic Trend Analysis —
Michael Mandel at BusinessWeek claims that By overlooking cuts in research and development, product design, and worker training, GDP is greatly overstating the economy's strength. Please consider The GDP Mirage. Here's a riddle: If a scientist or engineer is laid off, does it affect gross domestic product? The third-quarter GDP figures, released on Oct. 29, showed the economy growing at a 3.5% annual pace, breaking a string of four consecutive negative quarters. The trouble is that those GDP and productivity growth ...
Related Content
GDP Friday
philstockworld.com 7/31/2009 — Can the S&P make 1,000 today?
As we can see from AlphaTrends chart , that’s going to be a tough breakout and, even if we do make it, can we hold it? In yesterday’s post I said we were ready to switch off our brains and BUYBUYBUY the rally and our ...
U.S. GDP
measuringworth.org 3/14/2009 — Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country during a given time period. There are two ways to measure GDP: Nominal GDP is the dollar value of production at current-year prices. For ...
"Rethinking GDP"
economistsview.typepad.com 9/11/2009 — Joseph Stiglitz says we need better measures of economic performance:
Rethink GDP fetish, by Joseph E. Stiglitz, Commentary, Project Syndicate :
...Eighteen months ago, French President Nicolas Sarkozy established an
international Commission ...
Random Thoughts on the Q3 GDP Report
calculatedriskblog.com 10/30/2009 — After the Q1 GDP report was released, I wrote: GDP Report: The Good News . The headline number in Q1 was ugly, but there was a clear shift in the negative GDP contributions from leading sectors to lagging sectors. Here is a repeat of the table from ...
Market Cheers Over Ugly GDP Report
globaleconomicanalysis.blogspot.com 10/31/2009 — The stock market and commodities are giddy today on the Third Quarter Advance GDP Estimate which increased at an annualized rate of 3.5%. Real gross domestic product -- the output of goods and services produced by labor and property located in the ...
About that GDP Number
bonddad.blogspot.com 2/2/2009 — From the BEA: The decrease in real GDP in the fourth quarter primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment that were partly offset by positive ...
The Composition of GDP During the Recession
capitalgainsandgames.com 8/4/2009 — The big news today is the advance estimate of second quarter GDP, available here . The top line number is that GDP growth was -1.0% at an annual rate in the second quarter, an improvement from the growth rate of -6.4% in the first quarter. I think ...
The financial return on energy invested
europe.theoildrum.com 6/23/2009 —
Global GDP data from the USDA. Primary energy data and energy prices from the BP statistical reveiw of world energy 2009.
Global GDP has grown steadily and continuously since WWII, in step with a growing global population and primary energy ...
Some issues with GDP
tvhe.co.nz 6/3/2009 — Recently Peter Cresswell from Not PC asked me if I understood the difference between production and consumption . I know that consumption is what we value and I know that production is what we do in order to achieve consumption. As a result, I see production as a means to an end - the costly ...
Q3 GDP IS UP, BUT THE WAR FOR GROWTH HAS ONLY JUST BEGUN
capitalspectator.com 10/29/2009 — It's official: the U.S. economy expanded by 3.5% in the third quarter, the Bureau of Economic Analysis reports today. Encouraging as that is, it's neither a surprise nor anything near to closure for the financial and economic hurricane of the last ...
Business this week —
The Economist: Full print edition 10/29/2009
America’s GDP grew in the third quarter, the first time its economy has expanded in more than a year. Home resales jumped by 9.4% in September from August, the biggest rise in 26 years, as first- time buyers rushed to take advantage of a tax ...
Overview —
The Economist: Full print edition 10/29/2009
Britain’s GDP fell by 0.4% in the third quarter, the sixth consecutive quarterly decline. The news from America’s housing market continued to be mixed. Sales of new homes unexpectedly fell by 3.6% in September but sales of existing homes ...
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