Just in time for the 2016 election cycle and Obama will own it.
I’m not so sure about 3.3% growth being necessary to keep the unemployment rate steady, but we certainly have hidden a lot of unemployment with discouraged workers, the newly ‘disabled’, etc..
This is a lot of bunk until consumers start stop borrowing on reduced incomes to maintain a certain standard of living and start saving towards productive investment. The only sustained deleveraging that has occurred post-recession is within mortgages and that is because of foreclosures, writedowns, Central Bank intervention etc.
Well darn...just raise taxes on the rich.
That should take care of it.
It’s Gary Schilling.He is like the comic character who has his own personal rain cloud......... perpetual gloom and doom