Slow Economic Recovery: Professor Barro Has It Right

In his piece in the Wall Street Journal yesterday, Harvard Professor Robert Barro details why this economic recovery is so different from previous ones.  After the failed economic stimulus and a continued slow recovery, we are hearing from some politicians that the previous recession was worse then realized, as a justification of why the recovery is so […]

The Leadership, Focus, and Time For Recovery

The US GDP is growing too slowly to create enough jobs to tame 9.1 percent unemployment.  New business formations have traditionally been a major source of job creation, but since 2007 formations have been 20% below normal or 1.8 million jobs short of normal pace.  McKinsey estimates 21 million jobs need to be created by […]

Will Real Estate Hasten the Economic Recovery?

Real estate market prices began declining in 2006, a year before the Dow Index peaked and three years before the Dow troughed in 2009.  Lost construction jobs added to the recession’s pain and evaporating home equity demoralized families.  Unemployment caused some mortgage defaults and prevented others from even considering a home purchase.  Today, 11% of […]

Unemployment Rate Drops to 9% — or did it?

The unemployment rate fell four-tenths of one percent to 9.0% in January, according the U.S. Bureau of Labor Statistics’s Employment Situation Report.  While the decline in unemployement should be good news for American workers and policymakers, the drop was not due a sharp increase in hiring.  In fact, only 36,000 jobs were created during the month, according […]

ACI Survey: Most Consumers Say The Economy Is Worse Today Than Last Year and Expect To Spend Less This Holiday Season

Washington, DC, December 16, 2009 –– In a nationwide survey conducted by the American Consumer Institute Center for Citizen Research (ACI), 60% of consumers say that the economy is worse than it was a year ago, while 17% believe the economic is about the same and only 22% believe the economy is either better.  The […]

Unemployment Rate Fell? Well, Maybe …

There was (on the surface) good news from the BLS Employment Situation Report today — jobs fell by only 11,000 and the unemployment rate decreased from 10.2% to 10% from October to November.   That’s good news right?    Here is something that you won’t get from the news reports …. A closer look at the unemployment […]

Economic Stimulus Will It Work? Maybe, Maybe Not

Economic Stimulus Plan is Not a Panacea   As 2009 begins, I reflect back on how the last bailout performed and reminisce about how all the money that was already wasted bailing out corporations at the expense of American taxpayers, and now it looks like more waste could be coming under the heading of an […]

Broadband Tax Relief Will Contribute Substantially to Efforts to Create Jobs

Details of President-elect Obama’s stimulus package are not known, but its general focus on creating jobs is coming increasingly clear. He recently characterized the package in part as: “…a two-year, nationwide effort to jump-start job creation in America.” It has been reported that the president-elect has directed his economic team “to come up with an […]