The jig is up

Michigan Consumer Confidence Survey

Without asset gains, we are left with wage gains. Oops.


2 thoughts on “The jig is up

  1. beowulf says:

    Glad to see you’re back to blogging. Just like when serial killers take a break, I just figured you were temporarily in jail on unrelated charges.

    It should be beyond obvious we’re in same spot Marriner Eccles was writing about when, “he concluded in his memoirs that the Great Depression was caused by the increased concentration of wealth which reduced the purchasing power of everyone else. This process compromised the ability for consumers to purchase enough of the economy’s (potential) output to sustain growth”. Robert Reich connects the dots in his recent book Aftershock (with some interesting policy ideas).

  2. Thanks, Beowulf. A bit of a career change kept me busy for a while. Am still way too busy to blog as much as I would like. I will look at the link.

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