Thursday, June 17, 2010

Disaster Capitalism On The Cusp Of Madness

Oil Spill May End Up Lifting GDP Slightly

"The continuing oil spill in the Gulf of Mexico could end up adding a bit of growth to the U.S. economy as the huge cleanup efforts in some ways outweigh negative factors, analysts at J.P. Morgan Chase said.
Underlining that gross domestic product measures are often not a good guide to an economy’s well being, the bank said in a research note its best guess is that the impact on the U.S. economy of BP’s Gulf Coast spill would be minimal.
“The spill clearly implies a lot of economic hardship in some locations, but given what we know today, the magnitude of these setbacks looks dwarfed by the scale of the US macroeconomy,” said chief U.S. economist Michael Feroli. If anything, he added, U.S. GDP could gain slightly from it

This is from the certifiably insane WSJ, where pampered, blow dried and whoring egos live in a bubble of their own grandiose self importance.
Of course, as far as the life changing extinction event in the gulf is concerned, they applauded Halliburton's incredible acumen in acquiring the world's premier well fire and blowout correction company a week before Deepwater Horizon blew up.


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