Market fundamentals begin to bite

posted by
August 21, 2011
Cato Institute
by Steve H. Hanke  
Posted in Commentary

"Since the Lehman bankruptcy, I have argued that the best that the United States (and Europe) could hope for was a growth recession. Recall that a growth recession in the U.S. is one in which the economy's growth rate is positive, but below the long-term real GDP trend rate of 2.8%. Last week, the markets finally caught up with this gloomy reality." (for publication 09/11)  

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