Daily Reading on the Financial Markets: 8/3/11
Fascinating article from Doug Short on Seeking Alpha detailing the optimistic expectations currently priced into the S&P.
Harvard’s Martin Feldstein puts the chances of a recession above 50%, from Business Insider.
This isn’t new, but is nonetheless true (imho). Jeremy Grantham on economic risks posted by our finite world, from Business Insider.
Calculated Risk notes that GDP, employment, industrial production and real personal income are all still well below 2007 levels.