JPMorgan’s economic growth estimates

JP Morgan estimates of what economic growth is required at various levels of unemployment.

Hat tip to Zero Hedge

http://zerohedge.blogspot.com/2009/06/propaganda-machine-needs-oiling-gdp.html

” With headlines like this, who can argue that the media machine, in full control for the past 3 months, has gotten skewered on its own (lack of) propaganda:

1:00 pm : A lack of upbeat headlines has allowed participants to take control of the session. In turn, losses have been deep and broad-based, leaving stocks to test a major technical hurdle.

Uhm, so who exactly was controlling the session when headlines are full of bullshit about green astroturf and what not.

In other news, JP Morgan is saying that the economy will need some serious cocaine infused red bull to compensate for the 11% new unemployment “normal.”

hat tip David and Kevin

Considering that overall unemployment in the USA as reported by the “U6” measure of the BLS is already well above 12%, JPM is estimating that the USA for the next few years will require GDP growth equivalent to that of an emerging economy on steroids to make ends meet.

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