First quarter U.S. GDP numbers were recently released, and they weren’t pretty. Notwithstanding our oft-cited concerns that GDP doesn’t measure anything terribly useful,1 GDP growth was a paltry 0.2% and will likely be revised … Read More
Undeterred by another round of soft economic data released last week, investors sent the Standard & Poor’s 500 index to an all-time high. This year’s new highs, however, have been modestly above previous records, unlike last year’s sharp moves.
Chalk that up to perverse circumstance. … Read More
The Bureau of Economic Analysis reported on Wednesday that real gross domestic product grew at an annual rate of just 0.2% in the first quarter. And as miniscule as that figure looks, in reality it’s even smaller, since the 0.2% is annualized; more accurately, growth … Read More