Q2 2011 GDP Looking Weak

Bad news from Macroadvisors. Looks like the Q2 GDP numbers are looking very soft.

According to Brad DeLong

That means that it is:

• Time for Quantitative Easing III...
• Time for pulling more spending from the future forward into the present, and pushing more taxes from the present back into the future...
• Time to use Fannie and Freddie to (temporarily) nationalize mortgage finance and fix the ongoing foreclosure crisis...
• Time for a weaker dollar...

None of which we're likely to get from the Tea Party crowd in charge in Washington. Their Galtian commanders would not approve.