Amid the Gloom, U.S. Economy Quietly Improves
With the seemingly endless cacophony of negative news about the parlous state of the globe, you would never know that over the past two months the statistical entity known as the U.S. economy has been doing rather well.
How Bankers Saved the World From a Euro Meltdown
As Americans went about their lives this past week recovering from turkey, bemused by the latest Herman Cain dramas, the world almost changed dramatically. Fortunately, the largest central banks joined forces to stem the mounting financial crisis—for now.
2012 Economic Outlook: Why Things Are Better Than We Think
Years from now, when we look back at 2011, it may be remembered as one of the best worst years of the early 21st century. You’d be hard-pressed to come up with an extended period where people were more negative, yet remarkably, in the United States at least, not much actually happened. A summer debt impasse looked dramatic but in the end was resolved, and markets went up and down wildly yet ended largely where they started or better. Judged by every major economic indicator, it was the most stable period in a long while, with every sign that 2012 will be better yet. There is only one not-so-small problem: almost no one believes it.
Jobs Report Shows Structural Unemployment Is the Real Problem
The official jobs reports released Friday by the Bureau of Labor Statistics had something for everyone. It gave optimists hope and pessimists ammunition, and it provided ballast for President Obama and the Democrats while simultaneously providing the Republicans with more fuel for their assault on the White House. Two things are clear, however: this trend may help Obama politically, and it is unlikely to result in any meaningful change in a structural unemployment problem in America that many people now recognize but which is essentially denied by our political class.