Kasriel: In the Eye of the Hurricane
Posted on May 15, 2008
From Paul Kasriel and Asha Bangalore at Northern Trust: In the Eye of the Economic Hurricane There seems to be sentiment developing that the U.S. has weathered the worst of the current cyclical economic storm and blue skies are ahead. We disagree. Any blue skies you see are likely to be short lived. The economy is in the relative calm of the eye of the business-cycle hurricane. The mortgage credit problems are not over. And credit problems in other sectors are just beginning as the housing recession spreads to the rest of the economy. The eye of the hurricane meme is definitely gaining tract...
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Tags:
economy , gdp , housing default explanation
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