The Gold Report: You told The Gold Report
last year you were “neutral” on the state of the U.S. economy. Since
then, the headline unemployment number has improved. Even so, as David Stockman, former director of the Office of Management and Budget, says,
there have been no net new jobs created since July 2000, and jobs
paying over $50,000 per year have disappeared by 18,000 per month since
2000. What is your view of the health of the U.S. economy?
Eric Coffin: I’m more positive than neutral these days, but I
do agree somewhat with Stockman. As unemployment falls toward 6%, we
would expect an increase in wage gains. But we’re just not seeing that.
And five years into the latest expansion, we’re not seeing the economic
growth spurts that tend to occur coming out of a really bad recession. I
don’t see how the U.S. economy keeps reproducing the 4% Q2/14 growth if
we don’t see higher wage gains and higher paying jobs created. (more)
Please share this article
No comments:
Post a Comment