The economy grew at a faster pace than originally estimated in the first quarter, the government said on Thursday.

Perhaps all the doom and gloom in the headlines are overly pessimistic.

 

Submitted: May 29, 2008    Views: 121    Comments: 1    Likes: 1   


View Article: http://www.nytimes.com/2008/05/30/business/30econ.html


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Sam Cass
Sam_Cass

But the revised growth was only .9%. That combined with inflation means we are in a period of stagflation, which is almost worse than a recession. The upward revision was only because imports fell, really more of a stastical change. Bottom line seems to be that economy is stagnant , prices are rising, and real estate and equities are dropping. Doesn't look promising to me unless you own an oil well.

Posted: May 29, 2008



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