This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.
(7) From 1990 to today, Japan, post-bubble, experienced over two decades of rolling recessions and recoveries. None of the latter ones proved sustainable.
(8) In post-bubble Japan and America, consumer inflation (excluding food and energy) exhibited long-term declines. Japan's current sub-zero level shows deflation. America's at 1% shows minimal inflation, at least by CPI measures that are extraordinary unreliable.
(9) The employment/population ratio in both countries shows declines because of persistent unemployment, grossly underreported in America to hide levels above 20%. The official 9.4%, the so-called U-3 level, is meaningless.
A Second Rosenberg Analysis
Worrying concerns in it include:
(1) Grossly overvalued equity prices;
(2) West Texas Intermediate oil prices above $91 a barrel. Brent spot prices exceed $97. "Oil is being driven in part by speculative fervour."
(3) Vacant housing units in America hit a record high. So is the housing vacancy rate. Housing is in deep depression. Unless reversed, sustained economic recovery is impossible.
Next Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
2
2
1
