No prognosticator is a prophet. As the economic news has gone from bad to worse over the past 3-4 months, however, I find myself periodically grasping at the reed of a February 2011 forecast by Goldman Sachs economist Alec Phillips (I've noted this once before). At the time, the shutdown loomed and the House GOP was demanding $61 billion in cuts to FY 2011. Phillips wrote:
My talisman, once more
My talisman, once more
My talisman, once more
No prognosticator is a prophet. As the economic news has gone from bad to worse over the past 3-4 months, however, I find myself periodically grasping at the reed of a February 2011 forecast by Goldman Sachs economist Alec Phillips (I've noted this once before). At the time, the shutdown loomed and the House GOP was demanding $61 billion in cuts to FY 2011. Phillips wrote: