US Economy

America's saving rate by Martin Feldstein

The varieties of unemployment by Delong

Thik the worst is over? Wrong - US Unemployment

Accordingly with Nouriel Roubini:

"[The jobs just are not coming back] There's really just one hope for our leaders to turn things around: a bold prescription that increases the fiscal stimulus with another round of labor-intensive, shovel-ready infrastructure projects, helps fiscally strapped state and local governments and provides a temporary tax credit to the private sector to hire more workers. Helping the unemployed just by extending unemployment benefits is necessary not sufficient; it leads to persistent unemployment rather than job creation."

"[...] it is most likely that the unemployment rate will peak close to 11% and will remain at a very high level for two years or more."

Bernanke's Outlook for the Economy

"On the Outlook for the Economy and Policy" by Ben Bernanke

"How the economy will evolve in 2010 and beyond is less certain. On the one hand, those who see further weakness or even a relapse into recession next year point out that some of the sources of the recent pickup--including a reduced pace of inventory liquidation and limited-time policies such as the 'cash for clunker' program--are likely to provide only temporary support to the economy. On the other hand, those who are more optimistic point to indications of more fundamental improvements, including strengthening consumer spending outside of autos, a nascent recovery in home construction, continued stabilization in financial conditions, and stronger growth abroad."

"My own view is that the recent pickup reflects more than purely temporary factors and that continued growth next year is likely. However, some important headwinds--in particular, constrained bank lending and a weak job market--likely will prevent the expansion from being as robust as we would hope."