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Report: US Economic Growth Improving

VOA News
A new economic report says the U.S. economy will grow steadily over the next two years and create more than 5 million jobs.

The prediction comes from University of Michigan economic researcher Daniil Manaenkov and colleagues who say economic growth will increase significantly and will reach 2.7 percent in 2014 and speed up the following year.

He said growth was hampered by tax hikes and cuts in government spending, which slowed some economic activity. But those problems are easing.  

"The baseline strength of the economy has always been there, but we just had a couple of different sources of headwinds. And we don't expect them to continue, so that is the major reason for the outlook upgrade," said Manaenkov.

U.S. unemployment is slightly over seven percent now, but University of Michigan researchers predict it will fall to about six percent over the next two years as economic growth improves.

Meanwhile, analysts at Credit Suisse say global growth is “gathering steam” but remains “slow and unsteady.”  

Former British Prime Minister Sir John Major, however, an advisor to the large Swiss bank, said the United States will grow more quickly than other developed nations.
He spoke in an interview on the firm’s website. "They [the United States] have their problems, they have a huge debt position, but the trajectory of bringing debt down is very attractive now. They’re becoming more and more self-sufficient in energy, which will add to internal confidence, and animal [improved] spirits.”

At the same time, the Organization for Economic Cooperation and Development says it is worried that political bickering in Washington and slowing expansion in emerging markets could hurt global economic growth.

OECD Secretary-General Angel Gurria said his group and other international economic agencies have been cutting predictions for the rate of world economic expansion. His remarks come from an interview on the agency's website.

“Here we see numbers which have been downgraded, every time when it was our turn we would downgrade, and the IMF would downgrade, the EU would downgrade, everybody has been downgrading the numbers now for some time,” said Gurria.
That leaves the OECD’s prediction for global growth at 2.7 percent this year and 3.6 percent next year, a few tenths of a percent lower than their prediction half a year ago.  

Gurria said the world is still feeling the effects of the economic crisis, seen in low growth, high unemployment, rising economic inequality and falling trust in government and other major institutions.

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Comments
     
by: PCR from: USA
November 23, 2013 2:23 PM
Outright LIES in this article. Outright LIES. Since 2006, the US dollar has experienced a one-quarter to one-third drop in value to the Chinese yuan, depending on the choice of base.

Now China is going to let the dollar decline further in value. China also says it is considering undermining the petrodollar by pricing oil futures on the Shanghai Futures Exchange in yuan. This on top of the growing avoidance of the dollar to settle trade imbalances means that the dollar’s role as reserve currency is coming to an end, which means the termination of the US as financial bully and financial imperialist. This blow to the dollar in addition to the blows delivered by jobs offshoring and the uncovered bets in the gambling casino created by financial deregulation means that the US economy as we knew it is coming to an end.

The US economy is already in shambles, with bond and stock markets propped up by massive and historically unprecedented Fed money printing pouring liquidity into financial asset prices. This month at the IMF annual conference, former Treasury Secretary Larry Summers said that to achieve full employment in the US economy would require negative real interest rates. Negative real interest rates could only be achieved by eliminating cash, moving to digital money that can only be kept in banks, and penalizing people for saving.

The future is developing precisely as I have been predicting.

As the dollar enters its death throes, the lawless Federal Reserve and the Wall Street criminals will increase their shorting of gold in the paper futures market, thereby driving the remnants of the West’s gold into Asian hands. Prepare for Fascism.

by: IWork@criminalFED from: D.C.
November 22, 2013 3:25 PM
This article is an outright PROPAGANDA LIE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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