Washington Post (May 27, 2013)
The U.S. has often benefited from the dollar which serves as the global exchange currency, but this is “turning into an extravagant curse. The United States wants export-led growth. So do most other countries. Not all can succeed…. The dollar’s global role puts the United States at a special disadvantage. It’s one cause of slow U.S. growth and high joblessness.”
Tags: Dollar, Exchange currency, Exports, Growth, Joblessness, U.S.
Washington Post (February 18)
Joblessness remains protracted in the U.S., with the CBO estimating unemployment will not fall below 7.5% until 2015. “That would make six years above 7.5 percent — the longest stretch of high joblessness in 70 years.” The U.S. economy was always distinguished by job creation. What’s changed? “To overgeneralize slightly: We have gone from being an expansive, risk-taking society to a skittish, risk-averse one.” Rather than buying today, everybody is waiting until tomorrow. “Pessimism produces a sluggish economy; a sluggish economy produces pessimism. That’s the main explanation of poor job creation.”
Tags: CBO, Economy, Job creation, Joblessness, Risk-averse, Risk-taking, U.S., Unemployment
