…then we should expect the recent slowdown in YoY growth in the housing market to give rise to a stagnation at least of participation as well as real wage growth….

…of productivity growth and is a major factor behind the stagnation in US economic growth. I’ve taken his analysis one more step to show the relation between productivity growth and…

…stagnation. These trends are probably linked. The big move from people off the sidelines into the labor market is probably helping keep a lid on wage growth. The only other…

…of the looking glass in which saving (including public saving from reduced deficits) causes greater income in the future. Again I stress this is a statement about what the FOMC…

…depression or secular stagnation environment so as to stabilize output and employment. A realist example might be a heavily indebted Eurozone country deciding to leave the euro, and redenominating its…

…by the market response to its policy stance. If the country was in recession or secular stagnation and intended to recover output and employment gaps through active demand management, markets…

…of the Great Recession, at the end of the “shallow industrial recession” of 2015, hiring (red) troughed first, followed later in 2016 by separations (blue). With hiring up, I expect…

…stagnation of real wages over the last several years. Needless to say, the answer is “fine, so far.” I hope to say much more on this at some point in…

…our time is the very large number of people who either are not working at all, or not earning a wage great enough to be financially independent. The surplus of…

…the short term rate at 0.25%. Also the long term rate which investors now guess is normal is very low. That is called secular stagnation not incipient recession. Looking at…