Send a Tweet
Most Popular Choices
Share on Facebook 3 Share on Twitter 1 Printer Friendly Page More Sharing
OpEdNews Op Eds   

World Economies on Life Support

By       (Page 4 of 8 pages) Become a premium member to see this article and all articles as one long page. (View How Many People Read This)   1 comment
Author 194
Message Stephen Lendman
Become a Fan
  (193 fans)

Complacency masks deteriorating conditions. Hope springs eternal that central banks will solve all problems. Eventually, they exhaust workable policy measures.

The normally optimistic Fed sounded dour in its latest FOMC minutes, saying:

"Information from manufacturing and transportation firms was generally less optimistic than earlier in the year. There were a number of reports of slowing sales to Europe and Asia."

"Contracts in some parts of the country also indicated that firms had become more cautious in their hiring and investment decisions, with most capital investment being undertaken to improve productivity and reduce costs rather than to expand capacity."

"Some participants cited examples of business contracts saying that heightened uncertainty about future tax and regulatory policies had led them to put potential investment projects on hold until the uncertainty is resolved."

America's economy is in the early stages of confronting two shocks - Europe's deepening recession and a clouded fiscal outlook. 

Monetary policy is a weak antidote to more fundamental problems, it suggested. It's also worried about structural unemployment, inflation, and unprecedented wealth destruction.

From 2007 - 2010, it collapsed an epic 39%. In 2010 dollars, median household net worth declined from $126,400 to $77,300. It's down to 1992 levels. Fifteen years of wealth accumulation vanished. Left unsaid is how much more may follow.

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7  |  8

 

Must Read 1   Well Said 1   News 1  
Rate It | View Ratings

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

To View Comments or Join the Conversation: