In the past two weeks Dr. Jack Rasmus has dedicated his hour long radio show, Alternative Visions, on the Progressive Radio Network, to providing his analysis of why the US economy stalled out in the first quarter of 2015 (May 2 show) and a follow up show (May 9) on the topic again with a presentation of the major arguments presented in his new forthcoming book this summer, ‘Systemic Fragility in the Global Economy’.
The following url will take listeners to Rasmus’s website to download and play the May 2 show:
The show is also available at http://alternativevisions.podbean.com
Here’s the announcement of the show summary. (The May 9 follow up Alternative Visions show will be posted shortly as well).
MAY 2 SHOW ANNOUNCEMENT:
“Dr. Jack Rasmus analyzes US 1st Quarter GDP numbers, where US economic growth flattened out to a mere 0.2%–the fourth such collapse in the US economy in as many years. Is it due to the weather, as some argue? Is there something wrong with US statistics, showing four collapses since 2009 all occurring in the winter? Or are there real economic explanations for why the US economy periodically surges in the summer then stalls out in the winter, as it has since 2011? Will this winter 2015’s stall be followed by another ‘temporary surge’ in growth this summer? Jack looks beneath the numbers for real explanations for the US economy’s continuing ‘stop-go’ trajectory, identifying patters of one-off, temporary factors that typically have occurred in the 3rd quarter (July-September), only to dissipate in the winter quarters, in turn leading to an over-correction and decline in US GDP and growth repeatedly. It’s not the weather. It may be outmoded statistical methods by the US government. But it certainly is due to temporary events that don’t result in a sustained economy recovery, Jack argues. Government pre-election spending, restoration of defense spending, business inventory buildups, the global oil glut and US oil shale boom & bust, the US dollar decline and surge effects on US manufacturing-exports, diversion of US business investment into financial assets and offshore markets better account for the US stop-go trajectory, Jack argues. What’s missing is steady wage and income growth for 90% of US households and real job creating investment by business in the US.”
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