Reminder: If Paul Krugman predicts something, bet on the opposite.
U.S. second-quarter growth was revised up slightly without altering the bigger picture of a consumer- driven economy that also got a healthy contribution from business spending during the period, Commerce Department data showed Thursday.
Obviously with the hurrican damage there could be problems with Q3, but we’ll see about that. Meanwhile, let’s revisit former Enron adviser Krugman’s verbal vomit from March:
It’s just too easy:
H/T to DJ for the Krugman gem.