Thursday, March 25, 2010

GDP Numbers Underestimate Depth Of U.S. Slump

"The Pragmatic Capitalist" points out that Gross Domestic Income has been consistently weaker than Gross Domestic Product ever since 2006 (Similarly, national income has been a lot weaker than net national product), even though they should be equal, something which both suggests that the recession was worse than the GDP numbers suggested and that the recovery has been weaker.

I have actually pointed this out repeatedly in the past, and in the latest post on the subject I also pointed out that this was also true for the fourth quarter of 2009, something which the "Pragmatic Capitalist" seems to think will be unavailable until tomorrow even though it was published here two weeks ago.