« More Option Arm Fun: What Me, Pay? | Main | California Housing Sale Volumes Soar »
Latest Stories
- Palm Pre, Plus Roger and Me
- You Say “Recession”, I Say “Recovery”, etc.
- Quote du Jour: Marc Rich
- South Korea Arrests Barry Ritholtz
- Afternoon Reading 01/08/09
November 25, 2008
Rethinking U.S. GDP Decline
Breakingviews has this take on why the U.S. GDP decline will likely be larger than the OECD said in its update today:
The $12 trillion contraction in wealth and the end of mortgage equity withdrawals suggest US consumption should decline by 7.6% of GDP. That would give a peak-to-trough real GDP decline of 4-5%. Not the Great Depression, but considerably deeper than OECD’s new forecast.
Sphere It
| 
Digg it
| 
Bookmark it
| 
Stumble it
| 
Facebook it
