This moderate wage growth should dispel any notions the Fed may hold (that) labor markets and spiraling wages could reignite inflation.
More Quotes from Peter Morici:
It's caviar for the rich and cake for the rest, as wealth grows atop a fragile pyramid of inflated home prices, consumer debt and foreign largesse.Peter Morici
China needs American technology, American capital and American business acumen. If there's a backlash against China it could be devastating to the Communist party and to stability in China.
Peter Morici
The debt limit will be raised no one expects otherwise. The problem here is Congress reconvenes around mid-January, and it isn't a lot of time they have to get this done. But they'll get it done.
Peter Morici
Companies cannot provide gold-plated healthcare benefits and open-ended pension commitments,
Peter Morici
With crude oil prices soaring and China investing in new export capacity at a breakneck pace, the trade deficit will continue to pull down U.S. growth. Without a devaluation of the dollar against the Chinese yuan, U.S. growth will slow significantly in the second half of this year.
Peter Morici
China's purchases of dollars create a 33 percent subsidy on its exports, and are having a devastating effect on U.S. workers with only a high school education or only some college or technical training, ... Were foreign governments to stop manipulating currency markets, the trade deficit would be cut in half. (That) would increase GDP growth to about 5 percent a year and create as many as five million additional new jobs over the next three years.
Peter Morici
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