Thursday, December 22, 2011

Mark Zandi on 2012

  • U.S. growth is accelerating as the year ends, but the economy's performance in 2011 was disappointing.
  • Prospects are better for 2012, but only if policymakers in Europe and Washington address critical issues.
  • Europe's current recession is expected to be mild, but the threat of a deeper downturn has financial markets nervous.
  • Unless U.S. lawmakers act, federal fiscal policy will shave 1.7 percentage points from real GDP in 2012.
  • Businesses will likely remain reluctant to invest and hire more aggressively until after the presidential election.

Read it at Moody's Analytics/Dismal Scientist
U.S. Macro Outlook 2012: Diminished Expectations
By Mark Zandi
(h/t Roger Erickson via email)


Anonymous said...

The "other" Warren:

Tom Hickey said...

Warren Meyer is in la-la land.

1. Most teachers I know put in a huge number of hours outside the classroom. Many pay for supplies that are not funded out of their own money.

2. Private school teachers include teachers in religious schools. Three of my wife's sister were teachers. Two were public school teachers and the other taught in a Catholic school. The one teaching in the Catholic school received far lower pay and fewer benefits.

Matt Franko said...


Yes, yes, and yes.

I have seen this first hand also.


Anonymous said...

Anecdotal evidence doesn't cut it. At least he tries to gather verifiable data on salaries AND benefits.

Tom Hickey said...

OK, you average teachers salaries in Manhattan and rural Mississippi. What does that tell you about anything?

Dan said...

Yea, that's the point missing. Education funding varies on local/state basis. And I tend to agree with you on private school teachers being underpaid (especially when compared to their public sector counter parts in terms of pension and benefits).

But I don't think this guy Warren Meyer is totally off base either, in that you can't just generalize that all teachers are underpaid. But it just further emphasizes we need real reform in education funding and our approach more generally.

Anonymous said...

Well, color me stoopid

Yeah well, a quick check on the US Department of Labor Statistics May 2010(salaries for period 2011/12 show a decline in real terms). clearly shows Warren has carefully cherry picked the top 2% of public school teachers salaries.

In addition he omits the fact that senior high school teachers have multiple degrees. Private school teachers stipends are far less.

Sadly Warren also fails to acknowledge that school age children in the US exceed eighty one million. Broken down as follows

Primary 37.9 million

Secondary 26.5 million

Post Secondary 17.5 million

Many school districts, also publish their annual budgets online, for all to see.

It is clear Warren Meyer, has become part of Heartland Institutes "Operation Angry Badger".

Sadly, the Libertarians and many others are too lazy to fact check Warren and are easily fooled or even brainwashed, by their own head in the sand cognitive dissonance. Sad, when you think about it, how easy it is to fool some one to vote against their own best interests by using lies and propaganda techniques.

There is an old saying : "Fool me once, shame on you, fool me twice, shame on me!

cui bono.