November 30, 2017

Nothing to write home about, be it growth, spending or inflation.

From the news: The U.S. economy is posting another quarter of solid growth. …Many economists are projecting growth of between 2.5% and 3% in the fourth quarter, putting the U.S. in reach of a milestone: Three consecutive quarters of above 3% growth for the first time since 2004-2005. Give me a break! This is the real growth picture since the economy left behind the doldrums of the 2008-09 Great Recession. More recently, since early 2015, mean growth has ticked down, but growth volatility has dropped significantly. Instead of “solid growth”, it´s more like a “Depressing Great Moderation”! Elsewhere, the nominal…...

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