Steen Jakobsen
Kategori: Allmänt
Lower income can be dealt with through dissaving, taking money from your account over a shorter period, but now five years into the crisis this patience is running on empty and despite the US Federal Reserve’s explicit focus on unemployment, the fact remains that in 2011 the average Nonfarm Payroll’s number was +153K per month and in 2012 it was also +153K. Both way short of the desired 225K-250K per month to make the US grow at long-term trend.
We also have a second serious concern: The total debt build-up is nothing short of spectacular. The US Fed promised in December to take its balance sheet from USD 3 trillion to close to USD 4 trillion in 2013, a rise of some 30+ percent, but companies surveyed see little or no impact on their businesses from this massive stimulus. If US small businesses do not want to hire – and surveys indicate they do not – then the economy lacks 65 percent of its capacity to create jobs.
