Tuesday, February 3, 2009

GDP crashing

ISI is forecasting some nasty stuff:

Keynesian 'paradox of thrift' is gaining traction, U.S. savings rate will climb to 7.2% (from 1.2% in Sept 2008). Every percentage point increase cuts consumer spending by -1% and GDP by -0.7%.

China real GDP in 4Q2008 at 0% q/q. China real GDP 1Q2009 at 0% q/q.

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