Consumer Credit Increase a Good Sign, but the Economic Road Ahead Still Littered with Potholes
“On the positive side, household debt service obligations as a ratio to disposable income are in the 12 percent range, which is comparable to what we saw in the mid 1990s. The precipitous drop in household debt since two or three years ago shows that there is an end to this process.
“On the negative side, the employment picture is still not all that healthy. The unemployment rate dropped last month, but it was due more to people leaving the labor force than people getting jobs – not a great sign.
“The overall direction of economic policy is still far short of the sort of stimulus that could and would cure what ails us in relatively short order. Having maxed out on what are essentially second-best policies after having pushed them as far as they will go (yet more tax cuts and yet more monetary stimulus) the federal government seems set to cut spending (or at best keep it level), a posture that will not help the recovery at all.”
–Steven Kyle, professor of Applied Economics and Management at Cornell University
Media Contact
More Information:
http://www.cornell.eduAll latest news from the category: Business and Finance
This area provides up-to-date and interesting developments from the world of business, economics and finance.
A wealth of information is available on topics ranging from stock markets, consumer climate, labor market policies, bond markets, foreign trade and interest rate trends to stock exchange news and economic forecasts.
Newest articles
Superradiant atoms could push the boundaries of how precisely time can be measured
Superradiant atoms can help us measure time more precisely than ever. In a new study, researchers from the University of Copenhagen present a new method for measuring the time interval,…
Ion thermoelectric conversion devices for near room temperature
The electrode sheet of the thermoelectric device consists of ionic hydrogel, which is sandwiched between the electrodes to form, and the Prussian blue on the electrode undergoes a redox reaction…
Zap Energy achieves 37-million-degree temperatures in a compact device
New publication reports record electron temperatures for a small-scale, sheared-flow-stabilized Z-pinch fusion device. In the nine decades since humans first produced fusion reactions, only a few fusion technologies have demonstrated…
