I recently came across a notable excerpt in ECRI’s “U.S. Cyclical Outlook” of December 2009 (pdf):
“The bottom line is that long expansions are needed after severe recessions to undo the damage. After the 1932-33 depression, not even four years of expansion were quite enough, despite 10% annual GNP growth. This time trend growth is likely to be far lower, and the danger of frequent recessions accordingly higher.”
my comment:
I find the above excerpt interesting and notable. While I don’t necessarily agree with ECRI’s current forecast or economic interpretations, the concept of Sustainable Prosperity is one that I have frequently written of, and it is imperative that we, as a nation, should consider our longer-term economic plight as we seek to improve our current economic condition.
Tags: commentary on ECRI, economic forecasting, Sustainable Prosperity
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on Wednesday, June 23rd, 2010 at 7:44 am and is filed under Economic Forecasts, Sustainable Prosperity.
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ECRI On Frequency Of Recessions
I recently came across a notable excerpt in ECRI’s “U.S. Cyclical Outlook” of December 2009 (pdf):
“The bottom line is that long expansions are needed after severe recessions to undo the damage. After the 1932-33 depression, not even four years of expansion were quite enough, despite 10% annual GNP growth. This time trend growth is likely to be far lower, and the danger of frequent recessions accordingly higher.”
my comment:
I find the above excerpt interesting and notable. While I don’t necessarily agree with ECRI’s current forecast or economic interpretations, the concept of Sustainable Prosperity is one that I have frequently written of, and it is imperative that we, as a nation, should consider our longer-term economic plight as we seek to improve our current economic condition.
Tags: commentary on ECRI, economic forecasting, Sustainable Prosperity
This entry was posted on Wednesday, June 23rd, 2010 at 7:44 am and is filed under Economic Forecasts, Sustainable Prosperity. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.