The American economy is running on empty. That’s the hypothesis put forward by Robert J. Gordon, an economist at Northwestern University. Let’s assume for a moment that he’s right. The political consequences would be enormous. … For Obama, the argument that the America has run out of string is politically […] Read more »
The Self-Destruction of the 1 Percent
… Extractive states are controlled by ruling elites whose objective is to extract as much wealth as they can from the rest of society. Inclusive states give everyone access to economic opportunity; often, greater inclusiveness creates more prosperity, which creates an incentive for ever greater inclusiveness. The history of the […] Read more »
Consumer Sentiment Rises to Pre-Recession High
Confidence among U.S. consumers unexpectedly jumped in October to the highest level since before the recession began five years ago, raising the odds that retailers will see sales improve. The Thomson Reuters/University of Michigan preliminary October consumer sentiment index increased to 83.1, the highest level since September 2007, from 78.3 […] Read more »
Consumer Comfort Stayed Near Three-Month High Last Week
Consumer confidence in the U.S. stayed near a three-month high last week, with more Americans saying it was a good time to make purchases even as they grew more pessimistic about the economy. The Bloomberg Consumer Comfort Index fell to minus 38.5 in the week ended Oct. 7 from minus […] Read more »
Economic Confidence Up Modestly
Gallup’s U.S. Economic Confidence Index increased slightly to -19 for the week ending Oct. 7, up from -21 the week prior but little changed from the previous four weeks, during which it has hovered within a narrow range of -18 to -21. [cont.] Jenny Marlar, Gallup Read more »
Consumer Confidence Advances for a Sixth Week
Consumer confidence in the U.S. climbed for a sixth straight week, the longest such stretch since early 2006, as Americans grew more secure about their finances. The Bloomberg Consumer Comfort Index rose in the week ended Sept. 30 to minus 36.9, a three-month high, from minus 39.6 in the previous […] Read more »