What differentiates this recovery from every other cycle since 1929 is the lingering debt deflationary pressures. There is a very large overhang of U.S. household financial leverage that’s going down one of two ways: the easy way, through nominal income growth, or the hard way, by default. Unfortunately, the hard way is rearing its ugly head.
full articleOne view is that investment fell largely because labor fell (and labor and capital are...
The recently passed health reform legislation is intended to provide health insurance coverage to...
In recent years, credits for low- and middle-income families have grown so much that a family of...
Even as the economy, and the financial sector, have shown rapid recovery, Americans’ confidence...