In a WaPo oped today, Larry Summers takes a pretty gloomy view of the growth prospects of the US economy, and he throws Europe and Japan in there too for good measure. Larry’s always worth listening to on such matters, so let’s take a brief, closer look. Larry’s been righteously worrying about the economy’s demand… Read more
Over at PostEverything. If you can find another article in a major newspaper about the current state of macro-econometrics, I’d like to see it! Update: Curse you, Mark Thoma!
Clearly, there are a lot of people who feel that the economic recovery–over five years old by now, at least by the official count–isn’t reaching them. That’s a central result from a pretty gloomy poll out today from Rutgers University. I put some thoughts and data together over at PostEverything, showing the gaps between real GDP growth, corporate… Read more
Over at the NYT. Since one can only jam so much into an oped, allow me to elaborate and embellish a bit. First, a few relevant links. Along with the Austin piece (behind a paywall), which built what I found to be a pretty airtight model of what’s going on, the China-based economist Michael Pettis has… Read more
I yield to no one in my admiration for the careful, thoughtful, and reality-based economics practiced by Fed Chair Janet Yellen. So I was taken aback a bit by a section in her Jackson Hole speech on Friday. It was the part where she gave a number of reasons why the absence of wage pressures… Read more