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The recent decline in the fortunes of several large retail chains mirrors the hollowing out of the middle class following the 2007-2009 recession. Lost jobs, falling wages and shifting preferences among consumers reflect increasing income inequality and a bifurcated retail market. The difficulties faced by these mass market retailers, such as J.C. Penney Co. Inc., Target Corp. and Wal-Mart Stores Inc., may be indicative of [...]
Bloomberg economist Joseph Brusuelas previews the week ahead in U.S. economics data releases, including retail sales, inflation and manufacturing. Click here to continue: U.S. Economics Preview
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The U.S. economic expansion will probably continue in 2013 at last year’s subdued pace. A substantial fiscal drag as payroll taxes are reset back to 6.2 percent from 4.2 percent, and an increase in income taxes on households earning more than $450,000, will both play a major role in this slow growth scenario. Fiscal restraint, weak wage growth and muted household expenditures all indicate [...]
2013 US Eco Outlook from Bloomberg Briefs
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GLOBAL MACRO TRENDS AND STRATEGIES MICHAEL R. ROSENBERG To access the Financial Conditions Watch click here
The Federal Reserve’s decision to link the outlook for interest rates to unemployment and inflation targets for the first time means that its balance sheet may expand by about 75 percent to $5 trillion in the next few years. Click here to continue reading.