FAST FIVE: An Economic Candle Burning From Both Ends

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Savings has hit a new low of 3.2 percent, which is where it stood just after the 2008 financial crisis, and this contrasts with 6 percent rates after 1980 and 10 percent average rates in the postwar period.

Inflation is still embedded and this is because consumers have come to expect it and adjust their spending habits accordingly, plus wage costs are rising in sectors like hospitality, retail, and manufacturing.

While the results are not manifested in higher overall prices (think of 2008-2020) such a policy pushes resources out of shorter-term investments into longer-term speculative ventures.

Meanwhile, Washington is still dreaming of new ideas to kill our economic prospects.

It's time central banks acknowledge it for the failure it was and retire it from their policy arsenal as soon as they're able -.

Categories: ZH