VitalAccurateThinking

The Futurist: The US Economy Today - Amazing Resilience

Another great post on economics by the Futurist. Read it all, but here is a taste:

Over the last 3 years, the US has averaged 3.5% annual GDP growth, which is exactly at the long-term trendline. The unemployment rate is lower than it has been for 35 of the last 38 years, with seven million jobs being created in the last 3 years. What is remarkable is that in this period, a number of factors that have caused recessions in the past have occurred, even as new negative forces have simultaneously emerged, and all these have not derailed economic growth. But does this mean we could be growing even faster, had these problems not emerged? Let us look at all the bullets that did not manage to do the damage that they once did, and the new bullets that we have successfully endured.

So in conclusion, the US economy is performing very well relative to historical norms, and this is even more remarkable given the many blows it has taken in recent years. But these blows have taken a toll - and the toll is that the US now lags the growth rate of the world economy by a significant margin.

posted by Jim VAT @ 9:35 AM