{"id":196404,"date":"2008-04-30T19:25:00","date_gmt":"2008-05-01T00:25:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/30\/nouriel-roubini-on-the-gdp-numbers\/"},"modified":"2008-04-30T19:25:00","modified_gmt":"2008-05-01T00:25:00","slug":"nouriel-roubini-on-the-gdp-numbers","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/30\/nouriel-roubini-on-the-gdp-numbers\/","title":{"rendered":"Nouriel Roubini on the GDP Numbers"},"content":{"rendered":"<p>As promised, some more commentary, Courtesy of Nouriel Roubini, on why <a href=\"http:\/\/www.rgemonitor.com\/blog\/roubini\/252541\/\">the Q1 GDP numbers are a contraction<\/a>:<\/p>\n<ul>\n<li>The obvious one is that when inflation exceeds growth, fewer goods and services are bought or delivered, which is what has happened in the past 2 quarters.<\/li>\n<li>Increasing inventories of unsold resulted in a +0.8% to the GDP numbers, which is not economic growth, though it can lead to increased growth.<\/li>\n<ul>\n<li>My analysis of this tidbit is that this is actually increased hoarding of things people believe are inflating rapidly.<\/li>\n<\/ul>\n<li>Residential spending was recorded to have dropped an astonishing 26.7%, and that this number does not include cancellations on new homes, so it&#8217;s <span style=\"font-weight: bold;\">even bigger<\/span>.<\/li>\n<li>Durable and non durable goods sales contracted.<\/li>\n<\/ul>\n<p>Go read the whole thing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As promised, some more commentary, Courtesy of Nouriel Roubini, on why the Q1 GDP numbers are a contraction: The obvious one is that when inflation exceeds growth, fewer goods and services are bought or delivered, which is what has happened in the past 2 quarters. Increasing inventories of unsold resulted in a +0.8% to the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1002],"tags":[],"class_list":["post-196404","post","type-post","status-publish","format-standard","hentry","category-economy","category-good-writing"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196404"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196404"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196404\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}