tag:blogger.com,1999:blog-2761684730989137546.post2481023316181836071..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Brian Romanchuk — The United States of Stagnationmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-73646609769529011402016-05-09T12:53:12.913-04:002016-05-09T12:53:12.913-04:00In conclusion, we are only likely to see an actual...<i>In conclusion, we are only likely to see an actual change in the policy regime once there is a political movement that pushes for those changes.</i><br /><br />Precisely. The Trump phenomenon and 'feel the Bern' are preliminary practice runs for the real thing.Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-62362102885266440462016-05-09T12:48:28.587-04:002016-05-09T12:48:28.587-04:00As seen above, job growth and the shrinkage of the...<i>As seen above, job growth and the shrinkage of the participation rate pushed down the Unemployment Rate to 5.0%, where it has been stuck for a few months. For some inflation worriers, this is close enough to the insubstantial level of NAIRU (link to background article on NAIRU) to cause them to proclaim that the labour market is "healed" and there is a need to raise rates.</i><br /><br />Hooray, an end to ZIRP.Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.com