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Tag Archives: Uncategorized

China is the world’s largest economy: Get over it

from Dean Baker It is common for politicians and pundit types to speculate on when or whether China’s economy will pass the US economy as the world’s largest. The latest episode to cross my path was a column by David Wallace in the New York Times. There is little reason for this sort of speculation. China is already the world’s largest economy, its economy is more than 20 percent larger than the US economy, according to the IMF. Furthermore, it is growing considerably more rapidly...

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Industrial production, retail sales, unemployment claims, comments

This index is settling in to about a 3.5% annual rate of growth.No recession indication here: No recession here either: No sign of recession here: Markets are being driven by the understanding that the Fed will continue to raise rates until there is a recession, not realizing that rate increases, with debt/GDP as high as it is,result in a sufficiently large increase in government deficit spending on those interest payments to support both the growth of private sector total...

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