On Jan 31, 2013, at 10:11 AM, Jim Devine wrote: > Bivens is right on at least one point: a slowdown of the pile-up of > inventories is often a sign of future growth of production, since > businesses have to increase their orders to replenish the inventories. > "Often" doesn't mean always, especially when inventories are still rising. It is not "often" that consumer buying power, in already depressed condition (supported mainly by replacement demand for autos and recovery spending from a major storm), is hit by a sudden two percent impact from a payroll tax increase as has just happened at the start of Quarter One. Nor when the government is preparing major austerity cuts in spending at the same time that export demand is hit by recession in the major (European) market and marked slowdown in all other important (BRIC) ones.
> Julio Huato wrote: >> Louis wrote: >>> US GDP—On the Road to Double Dip? >> Unlikely, says Josh Bivens: >> http://www.epi.org/publication/gdp-growth-picture-january-2013/ Shane Mage "When we read on a printed page the doctrine of Pythagoras that all things are made of numbers, it seems mystical, mystifying, even downright silly. When we read on a computer screen the doctrine of Pythagoras that all things are made of numbers, it seems self-evidently true." (N. Weiner) _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
