Are you ready for the 2017 recession?
"'Nominal' GDP growth is now 2.4% – the lowest rate, outside of recession, since World War II..."
Source: Daily Crux
http://thecrux.com/are-you-ready-for-th ... recession/
The Institute for Supply Management’s (“ISM”) index of manufacturing unexpectedly dipped again last month. It fell to 49.4 in August, down from 52.6 in July. (Readings below 50 indicate contraction, while readings above 50 indicate growth.)
According to official statistics, more than 9 million net new jobs have been created in the U.S. since 2005. But according to Katz and Krueger, all of these jobs have been in “alternative work.”
These are temporary, on-demand, and/or independent-contracting jobs that pay less, provide no benefits, and offer fewer and less-reliable hours compared with traditional work.
Does the participation rate today look anything like the dot-com boom that actually raised almost everyone’s boat at least a bit? Short answer: No., it doesn’t.
Wages as a percentage of GDP has been in a 45-year freefall that can only be described as Depression for wage earners
Is the economy in a Depression? Not if you’re a corporate bigwig skimming vast gains from corporate buybacks funded by the Fed’s free money for financiers.
But if you’re a wage earner who’s seen your pay, hours and benefits cut while your healthcare costs have skyrocketed–well, if it isn’t a Depression, it’s a very close relative of a Depression.
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