The United States economy grew at an annual rate of 2 percent in the third quarter, the Commerce Department reported Friday, as it struggles to gain any momentum for a sustained recovery. Full Story »
Posted by Jon Mitchell - via Slatest, Google News (Business), NewsRack (Politics), Google News (U.S. Economy), Peter Avalos (t), David K. Miller (t)
There are a lot of unsourced, vague claims to authority here ("nearly all economists agree"), but the article intersperses some interesting macroeconomic observations with political tumult surrounding the elections, which are in many ways a referendum on the economy.
Congratulations America, you are at 2% growth rate. That means that you will be using twice the water, wood and minerals and producing twice the pollution and garbage in 35 years (log2/log1.02). On the other hand if you get up to the holy grail of 4.4% mentioned in the article, it will only take 16 years. (log2/log1.044). Ever wonder why, with a stable population (excluding immigration) you need to grow to remain prosperous. Ever wonder how the heads of your companies can award ... More »
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