Thoughts:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aj0La0i2g5_s&pos=3
Evidently the Fed says that the economy is continuing to grow.
But I noted this bit: “The nastiness of the storm has dissipated,” said Paul Ballew, a former Fed economist who’s now a senior vice president at Nationwide Mutual Insurance Co. in Columbus, Ohio. “Concern about the financial market has passed, but they’re looking at weak labor markets and sluggishness in the real economy.
And then I wondered "Growing for who?". If the labor market remains weak, then for the vast majority things remain shitty and we're still in double-digit unemployment and rewarding capitalists for their own incompetence. And in that case, it's arguably not a recovery unless for the average person there is improvement as much as for the coffers of the fat cats. And, too, another question that occurs to me is that since real wages have been stagnant for 30 years is it possible that we've had a bad economy for a lot longer than we accepted and it's just finally all ground to a screeching halt after being in trouble for a good long time?
Evidently the Fed says that the economy is continuing to grow.
But I noted this bit: “The nastiness of the storm has dissipated,” said Paul Ballew, a former Fed economist who’s now a senior vice president at Nationwide Mutual Insurance Co. in Columbus, Ohio. “Concern about the financial market has passed, but they’re looking at weak labor markets and sluggishness in the real economy.
And then I wondered "Growing for who?". If the labor market remains weak, then for the vast majority things remain shitty and we're still in double-digit unemployment and rewarding capitalists for their own incompetence. And in that case, it's arguably not a recovery unless for the average person there is improvement as much as for the coffers of the fat cats. And, too, another question that occurs to me is that since real wages have been stagnant for 30 years is it possible that we've had a bad economy for a lot longer than we accepted and it's just finally all ground to a screeching halt after being in trouble for a good long time?