Monday, February 2, 2015

General Economics

Market Watch | Consumer spending falls by most in 5 years
Americans boosted their savings in December and cut spending by the largest amount in five years, buying fewer cars and trucks and paying less at the gas pump.

Econ Comments & Analysis                                                                                            
Wall Street Journal | U.S. Economy Hits Speed Bumps
The U.S. economy entered 2015 on the most robust streak of consumer spending in years, yet when the first growth figures for 2014 came out Friday they underscored the lack of vigor in the current expansion.
Market Watch | New numbers but same story: Economy growing but wages flat
We just got two important signals about the economy, and they tell a story that we are all too familiar with: The economy continues to grow, but workers aren’t seeing enough of the gains. The initial gross domestic product, or GDP, growth estimate for the last quarter of 2014 came in at 2.6%, a solid number. At the same time, the Bureau of Labor Statistics, or BLS, released the employment cost index, arguably the most comprehensive measure of income growth in the U.S. economy, showing compensation growing only 2.2% over the past year. | Reaganomics Beats Obama's 'Middle Class Economics' By A Country Mile
President Obama has taken to touting his "middle class economics" as a big success. That's difficult to believe, given the latest GDP numbers, and impossible when you look at his complete record.