Friday, May 30, 2008

Deflating your pessimism IV

Here's a graph of real GDP growth over the last few years, stolen from Greg Mankiw's blog. If you hadn't been reading the news for the last 6 months, would you guess that the U.S. is in a recession, or even about to fall into one? There are certainly potential issues right now, but we are not on the cusp of some economic collapse.

Deep breaths, everyone, deep breaths.

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