QOTD
by digby
Jesse Rothstein, economist at the University of California-Berkeley:
I suspect (based on what CNN is saying) that this is going to be read as a sign that the economy is slowing down. I think that’s misreading things, mostly because I think we never sped up to begin with. There were a couple of somewhat better months, but I always thought—and in retrospect I think I was right—that those were likely to be temporary blips rather than a real change in trend. So we’re still stagnating. Which isn’t a surprise—our policymakers haven’t really done anything in a year or more to improve things, so things aren’t improving. Of course, the way things are going, we’ll be lucky if they don’t take action to make things worse in the next few months.
Indeed we will. And I shudder to think what they’ll do after the election — no matter which party wins.
For the first time, I’m wondering if Obama’s going to eke out a win.
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