Pictures of a Global Recession
Graphic depiction of the extent and depth of the global recession now affecting the world’s economies.
Archive for the 'U.S. Economy' Category
Economic Outlook for 2009
Predictions for the American economy are all over the map. The most optimistic prediction I see calls for the first half of 2009 to continue its decline, with unemployment reaching 7-8% by the end of June. Recovery will begin in the second half, and the economy will end the year with a net growth of [...]
The Need for Counter Cyclical Measures in a Falling Economy: Another Picture of Unemployment
Many journalists, when writing about the economy, focus on the broadest pictures: Gross National Product, total Non-farm employment, etc. But, sometimes the big picture needs supplementing with a narrower focus.
In looking at employment, for example, it helps to break the total employment picture down into three primary sectors.
Cyclical Services, which include information services, fire, professional [...]
Deflation as a Symptom: Leading Indicators Down
Deflation is real and a serious problem. But, we know how to break out of the downward spiral it can bring about. Monetary policy is used to control price inflation and deflation. Fiscal policy is used to stimulate aggregate demand. Deflation won’t last, so enjoy the lower prices while you can.
Pictures of the Real Estate Bubble Bursting
The bursting of the real estate bubble is no longer news. We can watch it unfold before our very eyes, as if we were watching some distant star explode a billion light years away. The three pictures shown below show a snap shot of the real estate explosion and subsequent implosion.
The first chart shows Washington [...]
34 Year High in Job Losses for November
The American economy lost 533,000 jobs in November, the most in 34 years. The unemployment rate shot up to 6.7 percent, the highest in 15 years. The last time that job losses in a single month were this bad or worse was in December, 1974.
The chart below provides a picture of how the recession has [...]
China Turns Inward For Economic Growth
Speaking at the Clinton Global Initiative conference in Hong Kong, the chairman of China’s sovereign wealth fund , Mr. Lou Jiwei, said on Wednesday that China had no plans for further investments in Western financial institutions. “Right now we do not have the courage to invest in financial institutions because we do not know what [...]
U.S. and World Economies–Slow, Slower, Slowest
There is no good news today for the world’s economy, including America. In the United States, the monthly survey of business by The Institute for Supply Management showed that manufacturing activity fell to 36.2 from October’s 38.9. A figure below 50 indicates the sector is contracting. The Associated Press reports: “The November reading is the [...]
International Economic Growth:OECD Estimates for 2009
The OECD has released its estimates for growth in the major economies for 2009. Robust growth is seen in China and India. Less, but still good growth for Indonesia, while Russia, Brazil, and South Africa are less than robust, but still growing. Australia and Turkey are growing, but even less than the others.
For most of [...]
Conservatives, Liberals and Progressives Speak on the new Stimulus Plan
Watch a well informed discussion of the new stimulus plan President-Elect Obama offered in his weekly radio (and YouTube) address. George Stephanopoulos leads the discussion between George Will, Arianna Huffington, David Brooks and Robert Kuttner on the merits of the plan.
This is well worth the time if you want to see a well informed and [...]
