America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending - Foreign Affairs - Nairaland
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| America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by ifyan(m): 8:02pm On Mar 30, 2015 |
A new report from the National Association for Business Economics points to improved prospects in the U.S. employment market, a lower inflation rate, and additional consumer spending growth in the 2015 calendar year, as compared to the organization’s December 2014 report. “Healthier consumer spending, housing investment and government spending growth are expected to make outsized contributions to the projected acceleration in overall economic activity. Accordingly, recent labor market strength is expected to continue,” said NABE president John Silvia, who is also Wells Fargo’s chief economist. The group also cited a few other variables behind March’s improved prospects, such as a stronger greenback, low oil prices, and improvements in the housing space. Crude oil prices, which went down from $98 per barrel in December 2013 to $59 in December 2014, are forecasted to average $61 by the end of 2015 and $69 by the end of next year. This is in contrast to December’s report, which had a forecasted oil price of $85 per barrel by December 2015. There were, however, some potential headwinds pointed out in NABE’s March report. The headwinds, according to the business economics group, include a larger U.S. trade deficit this year, reduced corporate profit growth forecasts for calendar 2015, and lower hourly compensation as compared to the December report. Regarding the U.S. Federal Reserve’s inevitable raising of interest rates from near-zero levels, 88 percent of NABE’s prognosticators said that the Fed may start hiking rates in the June or September 2015 quarter. Source:http://nairausd..com/ |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by ifyan(m): 10:43pm On Mar 30, 2015 |
Good for America and |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by Nobody: 2:08am On Mar 31, 2015 |
If "ifs" and "buts" were candies and nuts, everyday would be a holiday. These gung-ho positive articles on our economy are the last thing we need, lol. The biggest US employers used to be the likes of GM, Ford, General Electric, and US Steel. New job-creating technologies used to rapidly create millions of highly-productive jobs, and support the working & middle class. General Motors alone once employed 850,000 people. Now, the combined workforces of the world's most valuable company and leader in consumer electronics (Apple), the world's biggest software company (Microsoft), and the most powerful company on the internet (Google) have a combined workforce - between the three of them - of just a quarter of those GM once provided on its own! Now, the large-scale employers are in the low-skilled, low wealth producing service jobs (ex. Walmart employs approx. 1.4 million in the US alone, & McDonalds comes in w/ another 1/2 million.) The highly-increased global competition has also taken it's toll. The center for manufacturing has already shifted to Asia, leaving many Western nations with permanent trade deficits. Now, certain European countries in particular are destined to be relative minnows, with the US, China and India being the major economic "powers" for the time being. France, for instance, ran trade surpluses up to and all through the 1990s, but since the turn of the millenium has run constant deficits (reaching over 70 billion in recent years). The rapidly aging population, i.e baby-boomers, have lead to enormous increases in retirement, SSI, health costs, and the continual fall in the share of the population that is of working age (increasing the ratio of workers to dependents). This trend is morally-imperative (no-one wants to see the elderly left untreated or destitute) but to be blunt, this isn't a 'high-yield' form of economic investment (the biggest beneficiaries are economically inactive), and there's only going to be an ever-increasing demand on the economy as time goes on. It's a cost that some of the West's new competitors largely don't face, either because the populations are much younger (e.g. India), or have minimal social welfare (e.g. China). To take an example from Europe, the economic future of a country like Italy, which has one of the world's lowest birth rates, highest life expectancies, and one the highest government debt(s) already, is frankly bleak. Anyway, I'll remain relatively un-gung-ho about this until the US re-learns the art of [relevant] investing, hits the brakes on spending, and our nightmarish outsourcing free-fall (vs. our dependence on wild-handed consumerism). 1 Like 1 Share |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by ifyan(m): 11:39am On Mar 31, 2015 |
EnlightenedSoul: Sis I am wow by your explanation. But can you explain it further(This time make in a lay man term) . Thanke |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by Nobody: 3:51am On Apr 01, 2015 |
ifyan: All things considered, we still have a long way to go. |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by ifyan(m): 10:18am On Apr 01, 2015 |
EnlightenedSoul: What I want to understand is it a good thing for your country because I am not there. And from your view it seems that this is a bad progress. |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by Nobody: 12:14pm On Apr 01, 2015 |
ifyan: I meant that it isn't good enough, not that it's bad. |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by ifyan(m): 2:39pm On Apr 01, 2015 |
EnlightenedSoul: Ok now I get it |
| Re: America’s Economy In 2015 – Lower Unemployment And Inflation, More Spending by Nobody: 11:43pm On Apr 02, 2015 |
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