Friday, June 20, 2014

Other Dimensions of Our Current "Recovery"

The Asset-Rich, Income-Poor Economy (Warsh and Druckenmiller) from the Wall Street Journal
"The Fed's balance-sheet recovery hasn't stirred business investment, an opportunity killer for workers. ... The Fed's extraordinary tools are far more potent in goosing balance-sheet wealth than spurring real income growth. The most recent employment report reveals the troubling story for Main Street. While 217,000 jobs were created in May, incomes for most Americans remain under stress, with only modest improvements in hours worked and average hourly earnings"

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