While most eyes were focused on the better-than-expected gross domestic product data for last year’s fourth quarter, this week’s report from the Commerce Department’s Bureau of Economic Analysis also included details on U.S. personal income.
With the release of the first cut at the 4Q GDP, it is worth taking a look at what the overall composition of GDP looks like, and how it has changed over time. GDP is equal to the sum of spending by the Consumer, business Investment, Government and Exp…
First, the good news. This morning’s release of the government’s initial estimate of fourth-quarter GDP is a blow-out number: +5.7%. That’s the highest annualized quarterly real (inflation-adjusted) rise in GDP since 2003 and it’s also up sharp…
Chancellor holds clear-the-air talks with eight UK and foreign-owned banks at World Economic Forum in DavosAlistair Darling told the City’s top bankers today to stop feeling sorry for themselves and instead work with the government to create a stronger financial system.The chancellor held clear-the-air talks with eight UK and foreign-owned banks at the meeting of [...]
Len Burman approves–but not because he thinks it will boost output and employment in the short term or do anything to solve our long-term fiscal problems (it does, after all, expire after three years). Len Burman approves of the freeze because–wait f…
Project Syndicate – America’s Employment Dilemma: BERKELEY – There are always two paths to boost employment in the short term. The first path is to boost demand for goods and services, and then sit back and watch employment rise as businesses hire …
Project Syndicate – America’s Employment Dilemma: BERKELEY – There are always two paths to boost employment in the short term. The first path is to boost demand for goods and services, and then sit back and watch employment rise as businesses hire …
It isn’t just David Cameron’s followers who have to learn an obscure language (”fagging”, “slack bobs”, “beaks” and “divs”). Dan Hannan, the eurosceptic Tory MEP, points out that in part of Ca…
Bill Gross deals blow to government with warning to his investors that Britain’s debt makes it a ‘must to avoid’The government’s hopes of claiming credit for reviving the British economy suffered a severe blow today when the world’s biggest buyers of bonds warned that the UK was a “must to avoid” for his investors as [...]
The CBO has its *Economic and Budget Outlook* out: The two most noteworthy of CBO’s analytical judgements, from my perspective: 1. Unemployment is not going to get much higher, but it is likely to stay above 8% until the second half of 2012 (and there …