An economic outlook found at CR

black dog

“All this news feels like its building up to some sort of fall/winter collapse in equities

I watched Larry Summers on Meet the Press sunday. When asked point blank about wanting the fed chairman job he completely whiffed in answering. Pretty clear (imo) he wanted the job very much. And I was thinking the only way he gets the job is if something bad were to happen to the markets.

A couple of other odd things. He kept mentionning that ‘private economists’ say the recession is ending. Well, what do government economists think? I just got the feeling he was setting up cya and hoocoodanode. And he talked about how the initial data back in the winter didn’t tell how bad the economy was then. So, what has changed that makes us rely on the 2Q initial data (that trim tabs report troubles me)?

Not that I think it will work but I’m guessing TPTB think the only hope for reflation will be StimPack 2. And there is ZERO political will for that if the recession is *over* and the stock market continues to leave earth’s orbit.”

Logic that works…

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