Heterodox
Major Economic Confusion Anybody confused by recent economic reports is not alone. The BEA has just reported a totally unexpected decline in real GDP for the first quarter of a 1.4% annual rate. At the same time layoffs have reached a half century low and employment continues to rise. How can we have an apparently beginning recession with the hottest job market in decades? Probably this has to do with the sources of the reported decline,...
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