The prospects for a double dip recession, the role of bank and household deleveraging , and the effect of the stimulus package , all came up. So too did the impact of total versus partial extension of EGTRRA/JGTRRA. The broadcast can be heard here
Here’s the latest monthly indicators for the broad economy.
Figure 1: Real GDP, 2nd release for 2010Q2, in billions of Ch.2005$ SAAR (blue bars), e-forecasting release of 8 September (red line), and Macroeconomic Advisers release of 15 September (green line). NBER defined recession dates shaded gray, assuming recession ends in 2009M06. Source: BEA, and NBER.
Update: 12:20pm 9/19/2010
Nemesis asserts there’s been no recovery in private spending (GDP ex.-government consumption and investment. Here is a time series plot of the relevant data, which contradicts that assertion.
Figure 2: Nominal GDP minus nominal government consumption and investment, in billions of dollars. NBER defined recession dates shaded gray, assuming recession ends in 2009M06. Source: BEA, 2nd release for 2010Q2 GDP, and NBER.