I tried -5.25% real GDP growth in Q1-3 of 2004, 2.5% inflation, and 0 quarters of growth greater than 3.2% and still got a dead heat (Republicans getting 50% of the vote). I don't think that growth has been that bad for 3 quarters since before the 1973-4 recession (maybe going all the way back to 1938, but I don't have older numbers handy). Somehow I suspect that this equation overweights inflation relative to growth because of lack of data during periods of very low growth.
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timeasmymeasure
It gets worse at the boundries
Date: 2004-07-15 05:08 pm (UTC)