The Economy Slows; The Real “New Normal”
The virus’ resurgence has caused more business disruptions, raising the specter of a renewed economic slowdown. Spending and income numbers have mainly been negative in Q4, and the much hoped for stimulus relief package is now stuck on the president’s desk. The Economy “Drop in Spending, Higher Claims Cloud Outlook for Growth,” WSJ, 12/24/20, A1. […]
The Economy: Through the Rear-View Mirror
The upbeat October employment report is likely showing the labor market through the rear-view mirror. The weekly state employment numbers, too, as reported in the mainstream business media, only tell half the story. The entire story includes an additional 9+ million people on Cares Act supplements; a program that is growing as state eligibility is […]