Politically speaking, Phil Gramm’s “mental recession” remark was about the dumbest thing imaginable–which is why the McCain camp is running away from it as fast as it can (I liked McCain’s “Ambassador to Belarus” remark). But taken on purely economic terms his comments to the Washington Times weren’t all crazy. A quick run-through, after the [...]
Three weeks from today, the Commerce Department’s Bureau of Economic Analysis is going to release its advance estimate of third-quarter gross domestic product. The current thinking of most several two of the economic forecasters whose stuff I read–sure to be bolstered by the better-than-expected June sales numbers being reported by many retailers–is that real GDP [...]
