U.S. Economy Running on Fumes as GDP Forecasts Plummet Below 1%.
In this weekend report, from London on Saturday, March 2nd, 2019 I look at the state of the U.S. economy and some recent forecasts from the New York Fed, the Atlanta Fed, and Goldman Sachs. These entities have now revised their forecasts for Q1 US GDP growth to below 1%.
I have spoken in the past about how big budget deficits distort GDP positively and how that has been the case for the last year in the US with the Trump Tax cuts. Now though, despite the infusion of debt into the economy via government spending and tax cuts the economy looks to be grinding to a halt.
My conclusion is that with the massive deficits and debts around the world and in particular the US a slowdown in the economy and even a recession could be a harbinger of big economic and financial troubles in the horizon.
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