7:20 AM, Sep 12, 2014 • By GEOFFREY NORMAN
The administration continues to advance its arguments about the economy, with the president even tacking on to the end of his somber speech about new military action in the Middle East, a digression about how well things are going with jobs, manufacturing, and etc.
The public, however, doesn’t seem to be getting the message with Gallup reporting its:
U.S. Weekly Economic Confidence Index in Doldrums at -17
Among the particulars of the report
… 37% of Americans said the economy was getting better while 56% said it was getting worse.
2:00 PM, Sep 6, 2014 • By IRWIN M. STELZER
Analysts hoping to rebut the purveyors of gloom who are arguing that America is in long-term decline were looking to Friday’s job report for comfort.
1:31 PM, Sep 5, 2014 • By GEOFFREY NORMAN
The mood before this morning’s jobs report landed with a thud was one of high, almost touching optimism.
9:01 AM, Sep 5, 2014 • By GEOFFREY NORMAN
The eagerly anticipated jobs report comes in at less than 3/4s of the anticipated 200,000-plus. As Victoria Stilwell of Bloomberg reports:
9:18 AM, Sep 4, 2014 • By GEOFFREY NORMAN
Recent talk about the economy (especially from within the administration) has been upbeat. So the employment (jobs) number for August, which will be released tomorrow, will be looked at closely since that is the measure of economic health and progress that most people – and, hence, all politicians – pay attention to.
4:41 PM, Aug 29, 2014 • By GEOFFREY NORMAN
Even after yesterday’s promising first time claims and GDP numbers, the state of the economy – especially on the jobs, employment, wages side – remains uncertain and troubling as we enter the Labor Day weekend.
From the recovery.
10:43 AM, Aug 27, 2014 • By GEOFFREY NORMAN
Slow growth is bad for everyone. Including the government, which depends (sort of) on tax revenues to do its job. Now, as Kasia Klimasinska of Bloomberg reports:
9:42 AM, Aug 21, 2014 • By GEOFFREY NORMAN
First time claims were expected to be come in at 303,000. The actual number was 298,000. As Shobhana Chandra of Bloomberg reports:
12:03 PM, Aug 19, 2014 • By GEOFFREY NORMAN
If the economic recovery is dismissed as a chimera by half the population, there is a reason. As Aki Ito, Ian Katz, and Ilan Kolet of Bloomberg report:
12:00 AM, Aug 16, 2014 • By IRWIN M. STELZER
At long last we are emerging from the blind alleys down which the debate about income inequality seems to have wandered. The first such dead end was marked “fairness.” The top tenth of one percent of earners feel the tax system unfairly expropriates too large a portion of their incomes, bloated though those after-tax incomes are with special tax advantages.
10:06 AM, Aug 13, 2014 • By GEOFFREY NORMAN
Optimists have been hoping for robust GDP growth in the 3rd quarter and had pegged their hopes on improved consumer performance. As is often cited, consumer spending accounts for some 70 percent of GDP. It now seems that last month it did not match expectations. As Lorraine Woellert of Bloomberg reports:
12:00 AM, Aug 9, 2014 • By IRWIN M. STELZER
Bank of America likes to top rival J.P. Morgan Chase in as many ways as possible. Except one. The $16-to-$17 billion check it is about to write to cover the fine for sins committed before the financial crisis tops the previous record of $13 billion paid by J.P. Morgan Chase just nine months ago. Add fines paid by Bank of America in connection with other activities, and the total take from the bank’s shareholders easily tops $22 billion. That’s certainly is real money, but not so much as to prevent Bank of America from raising its dividend last week.