This blogbook offers, with the aid of various charts, graphs, and tables, a pictorial guide to the 2008 financial crisis.
2009 Deficit to $2 Trillion, 12.5% of GDP
This chart from the International Political Economy blog was a September 2008 estimate of the likely government deficit in 2009. But estimates keep rising. According to Morgan Stanley's chief economist, 'The 2009 budget deficit could be close to $2 trillion, or 12.5 percent of gross domestic product, more than twice the record of 6 percent set in 1983." Anyone for $3 trillion? Do I hear $3 trillion?
To see the presentation in order, use either the Labels below for each chapter or the Table of Contents for individual entries.
The initial presentation was made in October 2008 and was last updated in January 2009, though I recently substantially expanded the list of sources. Lately, I have been working on a blogbook called Energy Predicament.
My dubious record for 2008 is reviewed here, by some miscreants.
FEELING GLUM AND OUT OF SORTS, PERHAPS A BIT ANGRY?
YOU HAVE EVERY RIGHT TO FEEL THAT WAY.
A good number of my charts first appeared at Contrary Investor. Though oriented toward investors, CI offers a superb analysis of the real economy and its relationship to the financial system. It is an indispensable source not only for individuals but also for any good library. So subscribe, dammit.