mercredi 8 octobre 2008

I got news for you, Robert Hall

Le pauvre Robert du NBER a l'air complètement à la rue alors j'ai décidé de lui donner un petit coup de main (voir après l'extrait de news bloom ci-dessous):
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NBER's Hall Says `Perplexing' Data Make Recession Call Tough

By Steve Matthews and Thomas R. Keene

Oct. 7 (Bloomberg) -- The Stanford University economist who heads the panel that dates economic cycles said that while U.S. growth is at risk, it's not clear a recession has begun.

``We've had this perplexing period of rising output and declining employment'' since the end of last year, Robert Hall, who leads the National Bureau of Economic Research's business cycle dating committee, said today in a Bloomberg Radio interview.

The U.S. labor market is shrinking, with Labor Department figures showing last week that payrolls fell by 159,000 in September for the biggest reduction in five years. Still, the economy, fueled by exports, grew at an annual rate of 2.8 percent in the second quarter.

``We're struggling with some interesting questions about the difference between the indicators,'' Hall said. ``We see output or real GDP growing at the same time that employment has been declining and we're trying to make sense out of that.''

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Je ne sais pas si Robert Hall lit "El Blogo" mais si tu es avec nous Robert: "Ton gouvernement te pipote depuis des années sur les stats éco." and if you don't speak French, here it is in plain spoken English: "They pipote you big time Robert!".

Can you and your friends make sense out of that?

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