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Keyword: stagnation

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  • Bewitched, becalmed, bewildered {Economics}

    07/07/2017 6:00:14 AM PDT · by Mechanicos · 10 replies
    PJ Media ^ | July 7, 2017 | Richard Fernandez
    In the first decade of the 21st century Western economic growth entered the doldrums. The question was why. Former Harvard president Larry Summers noticed that something changed after the 2008 financial meltdown. The economic spring which had always bounced back had lost its elasticity. He diagnosed it as secular stagnation. .... Most observers expected the unusually deep recession to be followed by an unusually rapid recovery .... Had the American economy performed as the Congressional Budget Office fore­cast in August 2009—after the stimulus had been passed and the recovery had started—U.S. GDP today would be about $1.3 trillion higher than...
  • Why Americans have stopped moving

    04/16/2017 3:25:57 PM PDT · by TBP · 122 replies
    New York Post ^ | April 15, 2017 | Kyle Smith
    Americans are stuck. Locked into our jobs, rooted where we live, frozen at our income levels. More than at any previous point in our history, we’ve stopped moving — whether moving up the income ladder or packing up a truck and finding another home. We’ve grown ossified, rigid. The flip side is that we’re stable. If we weren’t so content, we’d be more willing to gamble, to shake things up, to start a new firm or join one. Maybe we’re fine where we are. But maybe this period of stasis cannot last. Maybe it even portends a period of massive...
  • The Myth of the Stagnating Middle Class

    01/19/2017 6:00:52 AM PST · by expat_panama · 48 replies
    National Review ^ | January 18, 2017 4:00 AM | Ben Shapiro
    The American middle class is disappearing. We hear it from everybody. Senator Bernie Sanders (D., Vt.) focused throughout his campaign on what he termed the “disappearing middle class” — disappearing, Sanders said, thanks to income inequality. Sanders explained, “If you have seen a massive transfer of wealth from the middle class to the top one-tenth of 1 percent, you know what, we’ve got to transfer that back if we’re going to have a vibrant middle class.” From the other side, Donald Trump has echoed the same message: “The American worker is being crushed. . . . The great American middle...
  • The Debate on Whether America’s Best Days Are Past, or Ahead

    01/19/2016 9:06:44 PM PST · by Theoria · 27 replies
    The New York Times ^ | 19 Jan 2016 | Eduardo Porter
    Take a look back at some of the most popular TV programs of the mid-1960s -- "The Dick Van Dyke Show," "Bewitched," even "The Beverly Hillbillies" -- and what do you see? Like today, middle-class Americans typically had washing machines and air-conditioning, telephones and cars. The Internet and video games were not yet invented. But life, over all, did not look that different. There were TVs and radios in most homes. Millions of people worked in downtown offices and lived in suburbs, connected by multilane highways. Americans' average life expectancy at birth was 70, only eight years less than it...
  • LARRY SUMMERS: The global economy is facing a 'dangerous' situation

    10/24/2015 10:50:17 AM PDT · by ForYourChildren · 37 replies
    Business Insider ^ | October 24, 2015 | Akin Oyedele
    During HSBC's Global Investment Seminar in New York this week, Harvard professor and economist Larry Summers brought up secular stagnation. In 2013, Summers revived the phrase, which, over time, has come to mean all sorts of things to different people. But at its core, secular stagnation refers to a global economy growing at a slow rate because there is too much saving and not enough investment. And right now, a lot of savings (and other monies) are heading out of emerging markets and into the developed world. "I would suggest that the defining financial development of the last year is...
  • Slouching into stagnation – advance read of 1st-quarter GDP +0.2% [The usual suspects blamed]

    04/29/2015 10:16:22 AM PDT · by SeekAndFind · 17 replies
    Hotair ^ | 04/29/2015 | Steve Eggleston
    The economic experts had anticipated the slowdown of the US economy to continue in the first quarter of 2015, after the 5.0% annualized real GDP growth in the 3rd quarter of 2014 slipped to 2.2% growth in the 4th quarter, with the consensus being +1.0% growth this past quarter. The bad news – it slowed down to 0.2%: Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — increased at an annual rate of 0.2 percent in the first quarter of 2015, according to the “advance”...
  • Beneath Obama's Budget Proposals Is A Depressing View Of The Future

    02/02/2015 11:44:59 AM PST · by blam · 28 replies
    BI - Reuters ^ | 2-2-2015 | Jason Lange and Howard Schneider, Reuters
    Jason Lange and Howard Schneider, Reuters Feburary 2, 2015WASHINGTON (Reuters) - Beneath President Barack Obama's plan to fight income inequality lies a gloomy view of an economy that is growing slower and creating fewer rewards for its workers than it did in much of the last century. In a budget proposal unveiled on Monday, the White House cut forecasts for an array of economic variables, depicting less growth, weaker inflation and lower interest rates than officials expected only a year ago. This comes despite an unemployment rate that the Obama administration expects to hit the 5.2 percent level considered to...
  • What's Causing the Wage Stagnation?

    11/06/2014 7:57:13 AM PST · by SeekAndFind · 44 replies
    RCM ^ | 11/6/2014 | Robert Samuelson
    I recently wrote about sluggish and stagnant wages, which are said to weaken the economy's recovery. I argued that workers' fear of losing their jobs is an important - perhaps decisive - explanation. In a nutshell: Frightened of being fired and being unable to find a new job, workers are less inclined to quit and search for something better. Therefore, employers don't have to raise wages, or can raise them less, to retain their best workers. Wage gains have been running at about 2 percent annually, a bit above the rate of inflation. There are many competing theories. The most...
  • Eurozone in danger of repeating Japanese stagnation, IMF chief warns

    10/10/2014 6:07:07 AM PDT · by TigerLikesRooster · 10 replies
    euobserver ^ | 2014/10/10 | Benjamin Fox
    Eurozone in danger of repeating Japanese stagnation, IMF chief warns By Benjamin Fox BRUSSELS - International Monetary Fund boss Christine Lagarde has warned that the eurozone risks following Japan and falling into a prolonged cycle of recession and stagnation. Speaking on Thursday (9 October) ahead of the IMF's annual meeting in Washington DC, Lagarde said: “We have also alerted to the risk of recession in the eurozone", putting the likelihood of a drop in output at "between 35-40%, which is not insignificant". “We are not saying that the eurozone is heading towards recession, but we are saying that there is...
  • The American Middle Class Hasn’t Gotten A Raise In 15 Years

    09/22/2014 8:29:16 PM PDT · by Theoria · 30 replies
    Five Thirty Eight ^ | 22 Sept 2014 | Ben Casselman
    In 1988, the typical American adult was 40 years old, white and married, with a high school diploma. If he was a man, he probably worked full time. If she was a woman, she probably didn’t.Twenty-five years later, Americans are older, more diverse and more educated. We are less likely to be married and more likely to live alone. Work is divided more evenly between the sexes. One thing that hasn’t changed? The income of the median U.S. household is still just under $52,000.The government’s release last week of income and poverty data for 2013 brought renewed attention to the...
  • Obama’s Betrayal of American Workers of All Races and Backgrounds

    08/13/2014 7:36:47 PM PDT · by Bratch · 8 replies
    Facebook ^ | August 13, 2014 | Sarah Palin
    According to a new report by the U.S. Conference of Mayors, Americans are earning 23% less today than what they made before the 2008 recession for the same jobs. This terrible statistic doesn’t even take into account Americans still struggling with unemployment, and please remember that the real unemployment rate is over 20%. That figure reflects all the Americans who’ve given up even looking for jobs that just aren’t there in Obama’s economy. This issue of middle class wage stagnation is directly related to the current debate about amnesty. According to a recent Reuters/Ipsos poll, 70% of Americans believe illegal...
  • Resenting the Rich: Is All Inequality Created Equal?

    02/27/2014 6:55:51 AM PST · by Aspenhuskerette · 13 replies
    The Aspen Times (CO) ^ | February 27, 2014 | Melanie Sturm
    Last week, as Ukrainian emigre- turned-tech tycoon Jan Koum prepared to cash a multibillion-dollar check from Facebook — acquirer of his startup “WhatsApp” — Ukrainian President Viktor Yanukovich was checking out of his Gatsby-esque estate where he’d cached his stolen plunder. That the two Ukrainians derived their riches under diametrically opposed systems — free enterprise versus banana republic — illustrates why all income inequalities are not created equal. Most don’t resent the rich — only the undeservedly rich — as a recent Venezuelan protest sign conveyed: “These Castro-Chavistas speak like Marx, govern like Stalin, and live like Rockefeller, while the...
  • Chicago Fed's Evans: $1.5 Trillion MORE QE By January 2015 (Stalled Economic Growth)

    11/19/2013 7:30:42 PM PST · by whitedog57 · 5 replies
    Confounded Interest ^ | 11/19/2013 | Anthony B. Sanders
    The Chicago Fed’s President Charles Evans sent this Tweet today: #CharlesLEvans our purchases will continue to be open ended. We may need to purchase 1.5 trillion in assets until January 2015. Well, that’s not good. Although he is only one person, this seems to be the mindset of soon-to-be-Fed Chair Janet “Bubbles” Yellen. This is a statement about how markets are addicted to the sugar high of easy money and declining expectations of inflation (at least how the Federal government measures it). In other words, lethargic growth is in our economic future. Here is a chart on nominal GDP growth...
  • The Next American Majority

    11/05/2013 10:30:45 PM PST · by neverdem · 10 replies
    National Interest ^ | November 1, 2013 | William W. Chip
    AMERICA’S CHANGING demographics, long a delicate topic, have become an increasingly prominent part of national political debate... --snip-- "The Latino Education Crisis: The Consequences of Failed Social Policies," that encouraging reports of higher Hispanic rates of graduation from high school often did not account for Hispanics who never entered high school in the first place. They warned that “as a group, Latino students today perform academically at levels that will consign them to lives as members of a permanent underclass in American society. Moreover, their situation is projected to worsen over time.” Academic stagnation in so large and rapidly expanding...
  • Obama is Lazy like a Fox

    08/21/2013 7:31:26 AM PDT · by Kaslin · 22 replies
    Townhall.com ^ | August 20, 2013 | Rachel Marsden
    President Obama has demonstrated leadership qualities ranging from poor to nonexistent. But is a president who lacks visible leadership qualities really such a bad thing? Or is he lazy like a fox? A lack of leadership -- whether deliberate or accidental -- can have a surprising upside, as none other than the French have historically exemplified. (And no, I'm not being facetious.) As a conservative whose heart leans firmly right, I would have thought the idea crazy until I moved to France four years ago, gaining insight into the mysterious French mind-set. I came to realize that there is a...
  • The One Chart That Shows Just How Stuck Our Economy Is

    06/13/2013 7:26:13 AM PDT · by SeekAndFind · 8 replies
    National Journal ^ | 06/13/2013 | Matt Berman
    The U.S. jobs picture is bleaker than the most recent jobs reports may make you think. The economy added 175,000 jobs last month, but at the rate things are going, it would take almost a decade to get back to prerecession employment levels. A Job Openings and Labor Turnover Survey report released Tuesday by the Bureau of Labor Statistics digs in on the bad news: The number of job openings in the U.S. actually fell by 118,000 in April to 3.8 million.How bad can 3.8 million job openings be? The Economic Policy Institute looks at the number and sees that "the...
  • The Stock Markets Are Forecasting Economic Stagnation, Not Recovery

    04/08/2013 6:52:09 AM PDT · by SeekAndFind · 8 replies
    Forbes ^ | 04/08/2013 | Jerry Boyer
    A number of commentators, some of them friends, have been declaring that current stock market valuations prove that the economy is in full recovery. They think that the market reflects high levels of optimism about the future and that this means that the economy is in a V-shaped recovery, or that we’re about to enter a phase of strong economic growth. Not so fast. The optimism case is generally inconsistent with the weakening spate of recent economic statistics this week including ISM and jobs growth. Furthermore, it’s hard for anyone who writes or speaks from any principled free-market perspective to...
  • Donald Boudreaux and Mark Perry: The Myth of a Stagnant Middle Class

    01/24/2013 6:25:41 AM PST · by SeekAndFind · 27 replies
    Wall Street Journal ^ | 01/24/2013 | Donald Boudreaux and Mark Perry
    A favorite "progressive" trope is that America's middle class has stagnated economically since the 1970s. One version of this claim, made by Robert Reich, President Clinton's labor secretary, is typical: "After three decades of flat wages during which almost all the gains of growth have gone to the very top," he wrote in 2010, "the middle class no longer has the buying power to keep the economy going." This trope is spectacularly wrong. It is true enough that, when adjusted for inflation using the Consumer Price Index, the average hourly wage of nonsupervisory workers in America has remained about the...
  • Under Obama, Economic Stagnation Is the New Normal

    12/10/2012 7:33:51 AM PST · by SeekAndFind · 5 replies
    RCM ^ | 12/10/2012 | Louis Woodhill
    Friday's "Employment Situation" report from the Bureau of Labor Statistics (BLS) showed that 5.4 million Americans have dropped out of the labor force since Barack Obama took office. The labor force declined by 350,000 in November, despite an increase of 191,000 in our working age population. The unprecedented decline of labor force participation under President Obama is not news. However, it also appears that millions of brain cells have dropped out of the mental labor force of America's economic analysts. How else can we account for headlines like these? "Jobs report: A pleasant surprise" (Jared Bernstein) "The employment emergency is...
  • Obama's "Recovery" The WORST Since 1882

    10/15/2012 7:44:21 AM PDT · by whitedog57 · 8 replies
    Confounded Interest ^ | 10/15/2012 | Anthony B. Sanders
    According to Stanford economist John Taylor, the current economic recovery is the slowest since 1882. Economic growth is generally strong following recessions, but not this time around. According to Taylor, “Growth was nearly 4 times stronger on average in the past recoveries. The only recovery in this list in which growth was as weak as this one followed the 1990-91 recession, but that was from a very shallow recession with output declining only 1.1%, so growth did not need to get very high to catch up.” In addition to looking at economic growth rates (which we know have been lackluster...