In 2012, U.S. consumers purchased over one million more new cars than the year before. This year, we’re expected to buy nearly one million more than in 2012. And in 2014? Yep, auto sales are projected to increase by another …
Economic Indicators
The Best Way to Cut Government Spending: Get Really Tough on Fraud
Fraud and improper payments for government programs amount to $125 billion a year. Reducing those losses substantially would avoid a lot of painful cuts.
Oh No, Canada! Are We Watching Another North American Financial Crisis Unfold?
For some time during and after the financial crisis, it was fashionable to point to Canada as a paragon of fiscal and regulatory prudence. In the years leading up to the crisis, the Canadian government ran budget surpluses, which …
The U.S. Economy Adds 171,000 Jobs in October, but Challenges Remain
Here it is, folks: The final jobs report before the 2012 Presidential Election. The Labor Department announced this morning that the U.S. economy added 171,000 jobs in October, and that the unemployment rate ticked up one-tenth …
Are We Getting the Economic Recovery We Deserve?
During this presidential election cycle, economics and politics are inseparable. The fundamental question voters will have to decide upon when making their choice for President in a few short weeks is whether they believe that …
Household Debt Has Fallen to 2006 Levels, But Not Because We’ve Grown More Frugal
U.S. household debt has finally fallen back to pre-recession levels. So, we’ve finally learned our lesson about spending more than we make, right? Well, not really. The real reason our debt has dipped is that so many Americans …
The Unemployment Report Wasn’t Rigged, but It’s Not Accurate, Either
On Oct. 5, the Bureau of Labor Statistics announced that the official unemployment rate had dropped from 8.1% to 7.8% — a surprisingly sharp decline given the slow pace of growth in the U.S. economy. The reaction from many on …
Why the Falling U.S. Birth Rates Are So Troubling
We’re becoming Europe. At least, that’s what a long line of U.S. birth-rate figures seems to being telling us. And that’s bad news for the future of the country.
Are We Already in A Recession?
New data give support to those who believe the U.S. economy is already contracting.
Home Sales, Prices Rise: Is Housing Finally Ready to Lead a Recovery?
During each of the previous three recessions, the American economy was powered back to full strength largely on the back of the housing market. There are many ways in which this recession and recovery are unique, but the lack of …
New Jobs Figures Are Bad News for Obama
It wasn’t what the Obama Administration wanted to hear. The new employment figures out this morning show that the U.S. economy created a mere 96,000 jobs in August, far fewer than the 130,000 that most economists were …
Money Talking: Has the Fed Run out of Tools?
Does the Fed have any weapons still left in it’s arsenal to help the economy? How much will the drought drive up food prices this year? For thoughts on this, as well as how much steam the U.S. Manufacturing boom still has left, check out WNYC’s Money Talking with myself and Joe Nocera.
