Feldstein: U.S. 'Sliding' Into Recession

Wednesday, May 07, 2008 | 03:30 AM

Great piece by Martin Feldstein in the FT: Misleading growth statistics give false comfort 

Bloomberg:

"Harvard University economist Martin Feldstein, a member of the committee that charts the American business cycle, said the U.S. economy is ``sliding into a recession.''

"This is a weakening economy,'' Feldstein, president of the National Bureau of Economic Research, said in a Bloomberg Television interview in New York. ``If you compare where the economy is now, with where it began at the beginning of the year, just about every indicator is down.''

The comments by Feldstein, a Republican, go farther than anyone in the Bush administration has gone in publicly characterizing the severity of the U.S. slowdown. Treasury Secretary Henry Paulson in an interview last week said the economy is ``still growing, albeit modestly.''



Sources:

Misleading growth statistics give false comfort   
Martin Feldstein
FT, May 7 2008 18:54
http://www.ft.com/cms/s/0/4ae9ee60-1c36-11dd-8bfc-000077b07658.html

Feldstein Says U.S. Economy `Sliding' Into Recession
Anthony Massucci and Kathleen Hays
Bloomberg, May 6 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLkqZ.fSIOdY&

Wednesday, May 07, 2008 | 03:30 AM | Permalink | Comments (9) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c52a953ef00e5522a64828834

Listed below are links to weblogs that reference Feldstein: U.S. 'Sliding' Into Recession:

Comments

Yes It's an weakening economy and that's not news anymore.Everyone knows that, equity market has already signaled that one quarter back.The real question is what happens from here? Will the job losses pick up momentum or they remain muted.

The yield curve is steep, as steep as it was around october of 2001, trough for that business cycle.Stimulus checks will have positive impact for two quarters, then yield curve effect should take control.
-Bullish Voice

Posted by: Jagmohan Swain | May 7, 2008 4:09:21 AM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner