Gorilla's Blog

The National Association of Business Economists: an idiot’s brigade that can’t quite get the forecast right!

Three months ago, the number one problem for these dopes was inflation, now zipping along at 1.5% a year.

Bond prices they feared would collapse in a sea of rising interest rates? Haven’t budged at all. The world and his bondholder are happy to lend the US government all the money it needs at historically low rates of interest.

What’s their number one problem now? The deficit!!! Of course, if the US paid what everyone else in the world pays for healthcare, then we’d have surpluses as far as the eye can see.

What’s the actual number one problem? A lack of demand. It is this and this alone that is keeping 25 million Americans unemployed and hopeless.

Gorilla says: “Let’s put NABE out to sea and out of our misery!”

Second estimate of Q4 GDP’s out: 2.8%, down from the previous 3.2%!

Whichever one is correct, this is mediocre economic performance!

There’s just not sufficient private sector demand to assist the 25 million unemployed Americans.

What’s needed is a jobs program and a significant increase in government spending, but everyone in DC these days is doing their level best to cut spending and destroy the US economy.

Gorilla says: “It’s an entirely preventable disaster!”