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IPFS News Link • Economy - Economics USA

Expect Seven Years of Subpar Growth and High Unemployment

• Michael Shedlock / Mish
 Now is the payback time. We should be expecting growth to be below trend for the next seven years, with a few outliers tossed in for good measure to keep everyone excessively optimistic.

1 Comments in Response to

Comment by Lola Flores
Entered on:

 Right of the bat, I have a problem with this:  "The Federal Reserve this week projected that the national unemployment rate, currently at a 26-year high of 9.5 percent, will pass 10 percent by the end of the year."

First and foremost, WTF is the Federal Reserve doing projecting/forecasting unemployment trends?  If that weren't enough, they're dead wrong:  if you add lies, incompetence, bureacracy and the people who are either no longer collecting unemployment but still unemployed plus those who are underemployed, the figure should be more like 20% right now, not a year or seven down the right but at this moment.  As for the rest, well, it's all hogwash!