Lawrence Summers' judgment with comments

Lawrence H. Summers, director of the White House's National Economic Council said several days ago that unemployment and job loss have been greater than expected, given the level of GDP in the first two quarters of the year. In other words, the rate of economic contraction so far this year tracks with the administration's projections, but job losses nonetheless have been higher.

Comment: Keynesian Cross Model assumes the lines of Aggregate Demand and Aggregate Supply curves intersecting with the contractionary or expansionary gaps via C+I+G+F of changing levels from varied sectors. The wars are still going on in the G sector plus stimulus delivery and C sector(for consumers) and I sector(business investments) are moving at a slow pace. Nobody can be sure of the upcoming state of the economy on the basis of GDP but educated guesstimates with professional judgment may provide the directions of the moving economy. Readers online may provide views about such macro outlook of the economy.

USA Today,July 9, 2009 issue,Page 2: Global economy remains fragile. IMF Upbeat about China's growth but USA still seen slow.

Wall Street Journal, July 9, 2009 page B2: Toyota sees recovery in China as small vehicle sales jump. C sector is moving positively as evidence. But other sectors are unclear due to the impacts of global financial crisis.

The above may serve as fluid situations of Sino-American Economics with limited evidence.

Francis Shieh a.k.a. Xie Shihao, an octogenarian watcher on July 10, 2009 at 10.28 a.m.