Contrary to month to month economic data, the US and Global Economies reflect a longer run slowing of economic growth since the short, shallow recovery of 2009-10 following the financial crash and ‘epic’ contraction of economies worldwide in 2008-09.
For my just published, November 2013 article, reviewing the current state and trends within the global economy, as of late summer 2013, go to my website at http://.www.kyklosproductions.com/articles.html. Or access the website from the sidebar on this blog.
Included are assessments of the US, Eurozone, UK, Japan and China economies. While recoveries appear in the short run, in this or that global region, the recoveries are short and shallow and thus unsustainable. The article explains why traditional fiscal-monetary policies, including a primary focus on QE and liquidity injections by central banks and reluctant and insufficient fiscal stimulus packages, have been unable to propel the global economy and its various regions onto a sustained growth path. Weak multiplier effects for fiscal policy due to excess debt and stagnant incomes and inverse elasticities and return to financial speculation in lieu of real asset investment, are offered as explanations for the growing failure, and contradictions, increasingly evident by traditional fiscal-monetary policies being employed worldwide.