The unemployment gap between young men with and without college degrees has narrowed to historically low levels. What does generative AI have to do with this trend? An economist’s discussion of that and other questions on employment are on our blog: https://t.co/im7R28N3fu
I wrote up my predictions for markets in 2026 in a post on Jan 1. They are: (i) the Dollar will resume its fall; (ii) an acceleration of the global debt crisis that's radiating out from high-debt countries like Japan; (ii) the debasement trade on fire...
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Looking at Trump's proposed mass deportations, tariffs, & Fed independence erosion, by 2028, US consumer prices would generally be 20-28% higher & inflation rate would settle 2 percentage points above baseline, to be almost 4%, from 2034 through 2040. #VPDebate2024
In the week ended Aug. 31, the average interest rate for 30-year fixed-rate mortgages dipped, to 7.18%, while the average for 15-year fixed-rate mortgages held steady at 6.55% https://t.co/ISI5vvlmxo
Falling inflation can sow seeds of its own demise. Because wages are more sticky than prices, falling inflation will tend to lift real wages, leading to more spending. Real wages in the US are still 4% below their pre-pandemic trend, so they have plenty of upside. Larry was right to flag the risk of a second wave.