and hourly wages up more than 5% over this time last year. America's strong labor-force participation and growing paychecks have represented the one piece of good economic news throughout the past two years. And yet, for some reason, two of the most influential economic thinkers of the last 30 years want to kick out the one remaining solid beam holding the American economy aloft.
Neither Powell nor Summers seem to understand the fundamentals of how the economy really works. Their theory that slowing down the economy and putting millions out of work will stem the tide of inflationary increases may have worked in the early 1980s, but the truth is that the high prices Americans have been paying at grocery stores and gas stations for the past year
paulconstant PitchforkEcon I’ve been aging it all along. Jobs are too tight. We must loose them up.
paulconstant PitchforkEcon Do editors even exist anymore? You're going to 'loose' readers!
paulconstant PitchforkEcon Wouldn’t that be a deliberate destruction of SMEs?!Corps would not be affected as much since they merely need to lay off a certain % of their work force increasing value of their shares enabling share buy backs.Stop backing China 4 ur own multi benefits & subsidise where necessar
paulconstant PitchforkEcon Seriously...'loose'? Do better.
paulconstant PitchforkEcon Loosen up!
paulconstant PitchforkEcon BagholderQuotes 👀 You only loose when you quit or get fired?
paulconstant PitchforkEcon Check 'Loose' vs 'Lose' ...
paulconstant PitchforkEcon Impressive.
paulconstant PitchforkEcon must 'loose' their jobs?
paulconstant PitchforkEcon Loose? Or lose? Tsk
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Recession watch: Top economists explains why US economy is headed for a crashI'm an economist who has been arguing against doom-and-gloom predictions for years. Here's why I now think the US economy is hurtling towards a recession.
Source: BusinessInsider - 🏆 729. / 51 Read more »