Author Archives: Menzie Chinn

American Association of Physicians and Surgeons Opines on … Gold

For my sins, I get emails from AAPS:

GDP is a measure of output from the spending side. A standard alternative measure is Gross Domestic Output (GDO), the average of GDP and GDI.

Transportation and warehousing boomed. Federal government workers on leave, taking buyouts not included yet (per convention).

Continued growth apparent, although NFP employment pertains to first half of April.

Through May 1st:

And other NBER BCDC indicators.

GDPNow at -1.5% q/q AR. But final sales to domestic purchasers little changed.

Torsten Slok’s VTRR (Voluntary Trade Reset Recession):

Prepping slides for macro, found these interesting correlations.

As of today: