Tag Archives: US economy

Policymakers have helped to perpetuate an economic model that is ultimately unsustainable. The article is based on Bill Mitchell's analysis of US unemployment.AlterNetThe Fed Is on the Verge of Making a Major Policy ErrorMarshall Auerback / AlterNet

PPP rather than GDP. Purchasing power parity calculations of GDP attempt to measure all the goods and services produced by a country with a common set of prices. This means we add up all the cars, tables, haircuts, knee surgeries etc. produced in both the U.S. and China, and assume that each item costs the same in both countries. According to the projections from the I.M.F. China's GDP is already 25 percent larger by this measure and will be almost 50 percent larger by the end of the...

Princeton economist estimates there are 5.3 million Americans who are ‘absolutely poor’ by global standards MarketWatchKey Words: U.S. has more truly destitute people than either Sierra Leone or Nepal, says Nobel economist Deaton Greg Robb | Senior Economics Reporter

Out of paradigm with MMT but useful as an analysis of how the elite is likely to act when faced with the next recession based on core beliefs with respect to contractions. Could get ugly under this scenario. World Economic Forum The US is not ready for the next recession. Here's why Barry Eichengreen | Professor of Economics and Political Science, University of California, Berkeley

James K. Galbraith is a self-described "Galbraithian" (institutionalist) and also a supporter of MMT.Market WatchEconomist James K. Galbraith isn’t celebrating Dow 25,000 Greg Robb is a senior reporter for MarketWatch interviews James K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin

One of the findings of the dynamic information equilibrium approach (see also my latest paper) is that nominal output ("GDP") has essentially the same structure as the size of the labor force. The major shocks to the path of NGDP roughly correspond to the major shocks to the Civilian Labor Force (CLF). Both are shown as vertical lines. The first is the demographic shock of women entering the workforce.... With the positive shock of women entering the labor force ending, immigration is a...

Summary of Grantham's guesses (described "absolutely my personal views")A melt-up or end-phase of a bubble within the next 6 months to 2 years is likely, i.e., over 50%. If there is a melt-up, then the odds of a subsequent bubble break or melt-down are very, very high, i.e., over 90%. If there is a market decline following a melt-up, it is quite likely to be a decline of some 50%. If such a decline takes place, I believe the market is very likely (over 2:1) to bounce back up way over the...

Modest improvements overall.Marketwatch 6663rd quarter GDP revision, November income and outlays, durable goods, new home construction, new and existing home salesrjs

Forecast.Credit Writedowns As the Fed meets, expect expansion through 2018, but problems thereafterEdward Harrison

On December 8, 2017, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – November 2017 – which showed that total non-farm employment from the payroll survey rose by 228,000 in November, slightly less than the October net increase. While the payroll data showed a fairly strong employment outcome, the Labour Force Survey data estimated a weaker rise in employment (57 thousand) in November. The labour force was estimated to have...