Stocks may be near record levels but the bull market is not done. Digital technologies permit businesses to use investors’ cash far more efficiently these days, and could easily push up stock prices another 25 percent.
Friday, the Labor Department is expected to report the economy added 235,000 jobs in July, and the unemployment rate remained steady at 6.1 percent, but that hardly tells the story.
Poverty is as endemic today as it was when President Johnson inaugurated the War on Poverty, and Paul Ryan is offering sensible proposals to change things for the better.
Testifying before Congress last week, Federal Reserve Chairman Janet Yellen cherry-picked data on inflation by noting prices are up, on a year-over-year basis, less than the Federal Reserve's target of 2 percent.
The downing of Malaysia Flight 17 casts new light on just how inept and decadent the United States and Europe have become.
Testifying before Congress, Federal Reserve Chairwoman Yellen cherry picked data on inflation by noting prices are up, on a year-over-year basis, less than the Federal Reserve’s target of 2 percent.
The economy is recovering from a harsher than normal winter, but the pace of growth the balance of this year and next will not create nearly enough decent jobs for the millions unemployed and recent graduates working at venues like Starbucks.
Federal Reserve Chairwoman Yellen will testify to Congress Tuesday and Wednesday about the economy and future fed policy. We won’t learn much about either, because the Fed refuses to recognize the facts on the ground.
Changes in technology and the economy that permit businesses to use capital far more efficiently will likely drive equities much higher.
The economy added 288,000 jobs in June. Overall jobs creation has improved in 2014, but it remains far short of the 390,000 needed each month to keep up with population growth and genuinely reduce unemployment, and well less than the pace accomplished during the Reagan – Clinton prosperity.
Thursday, the Labor Department is expected to report the economy added 211,000 jobs in May. In line with the pace so far this year, that is far short of what is needed to keep up with population growth and genuinely reduce unemployment.
The Fed target is 2 percent inflation, but since March the pace has quickened. In May, the Consumer Price Index the government uses to adjust Social Security and other benefits increased at an eye-popping 4.3 percent annual rate.
Economists should be bound by facts and reason. And I can’t do that as well as embrace liberal positions on the minimum wage, climate change and gender discrimination at the same time.
Forecast For Economic Numbers Week of June 30th, 2014: Peter Morici is a professor at the University of Maryland Smith School of Business, former Chief Economist at the U.S. International Trade Commission, and five-time winner of the MarketWatch best forecaster award.
The U.S. economy is set to take off. Scarred by the financial crisis but on their feet again, consumers will lead the economy to growth in the range of 3 percent through the end of 2015.
Buffeted by slow growth and too few jobs, Americans now have to deal with more inflation. In May, consumer prices rose at more than a 4 percent annual pace, and inflation has been heating up the last several months.
Russia is pushing into the Ukraine and threatening Eastern Europe, China is bullying Japan, the Philippines and Vietnam in the East and South China seas, and terrorist groups in the Middle East and Africa can be displaced in one place only to multiply and create more lethal threats in others.
Peter Morici is a professor at the University of Maryland Smith School of Business, former Chief Economist at the U.S. International Trade Commission, and five-time winner of the MarketWatch best forecaster award.
Certainly, young people should take responsibility for their lives, but parents, educators and politicians all share some blame for their troubles.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 31st, 2014 | John Ransom
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