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America may be just weeks away from a mighty economic shock
- toomuchtodo 2y agohttps://archive.today/9wcPU https://archive.today/9wcPU
- nabla9 2y agoAtlanta Fed has GDPNow forecasting model provides a "nowcast" of the official estimate. It's currently -2.7 percent. https://www.atlantafed.org/cqer/research/gdpnow https://www.atlantafed.org/cqer/research/gdpnow It takes time for shipped products to stop arriving. First East Coast, then ships going trough Panama Canal stop coming to the East coast. Finally inner cities like Detroit and Chicago. America will go to recession. Christmas orders will be sent soon and when they are canceled, those products are not produced in time for Christmas even if Trump reverses the course after 2-3 months. You can't move production into other countries in few months.
- treetalker 2y agoUnless I'm misreading, that figure from your link was that model's estimate for growth for Q1, and the model's current estimate for growth in Q2 is +2.4%.
- foxyv 2y agoThere is no longer a maybe. It is almost certain at this point. We are a country that depends heavily on global trade. Anything that damages that as severely as the last few months of trade war is going to echo for at least a decade.