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Update on the Economy: Economic Statistics - Quarterly Data for U.S. Department of the Treasury

What's the sick sector of the economy? Readers of this site know...

Update on the Economy: Economic Statistics - Quarterly Data for U.S. Department of the Treasury

Again, the construction sector legged, and pulled the whole US economy down with it.  Residential was again bad, but business structures tanked.  That news confirms the gloom that fills the real estate sector, as the fears of an extended trough in overbuilt and over-leveraged commercial real estate persist.

Rhetorical question: during the real estate boom what was wildly inflated? The materials? The labor? No, it was land values, inflated by cheap money and speculative dreams.  Soon, we trust that the gears of the economy will be crafted who will encourage lending and credit based on production rather than dreams of a new Gilded Age...

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