David F. Ruccio — I ran out of words to describe how bad the recovery numbers are

Workers’ wages have been stagnant for the past decade across the 36 countries that make up the Organisation for Economic Cooperation and Development. But the problem has been particularly acute in the United States, where the “low-income rate” is high (only surpassed by two countries, Greece and Spain) and “income inequality” even worse (following only Israel).

The causes are clear: workers suffer when many of the new jobs they’re forced to have the freedom to take are on the low end of the wage scale, unemployed and at-risk workers are getting very little support from the government, and employed workers are impeded by a weak collective-bargaining system.

That’s exactly what we’ve seen in the United State ever since the crisis broke out—which has continued during the entire recovery.…

"It's the distribution, stupid."

Occasional Links & Commentary
I ran out of words to describe how bad the recovery numbers are
David F. Ruccio | Professor of Economics, University of Notre Dame

CNN Poll: Majority of Americans say things are going well

For the first time since 2007, a majority of Americans think things are going well in the nation, a new CNN/ORC International poll found. 

It's a slim majority — just 52 percent of Americans said things are going well, while 48 percent said things are going badly — but it's the most positive appraisal of the state of the nation that the poll has found since January of 2007.…

No so much for the economy though.

Economic sentiments have improved over the past year as well. Though just one-third of Americans believe the nation's economy is starting to recover, that marks an 8-point increase from a year ago, when 24 percent said the same. 

A plurality, 41 percent, say the economy has stabilized, a 5-point improvement from November of 2013. 

And just 26 percent of Americans say the country's economic conditions are getting worse, a decline from the 39 percent who said so in 2013.

CNN

CNN Poll: Majority of Americans say things are going well
Alexandra Jaffe, CNN

Consumer confidence falling a bit.

The Conference Board Consumer Confidence Index®, which had rebounded in October, declined in November. The Index now stands at 88.7 (1985=100), down from 94.1 in October. The Present Situation Index declined from 94.4 to 91.3, while the Expectations Index decreased sharply to 87.0 from 93.8 in October.

November 2014 Consumer Confidence Survey®
The Conference Board

Doug Short — Big Four Economic Indicators Still Near Stall Speed

• Industrial Production

• Real Personal Income (excluding Transfer Payments)

• Nonfarm Employment

• Real Retail Sales

Current Assessment and Outlook
The overall picture of the US economy had been one of slow recovery from the Great Recession with a clearly documented contraction during the winter, as reflected in Q1 GDP. Data for Q2 and Q3 supported the consensus view that severe winter weather was responsible for the Q1 contraction -- that it was not the beginnings of a business cycle decline. However, the average of these indicators in recent months suggests that, despite the Q2 rebound in GDP, the economy remains near stall speed. We'll need some near-term improvement to avoid rolling over.

Financial Sense
Big Four Economic Indicators Still Near Stall Speed

Doug Short | VP of Research at Advisor Perspectives

Wolf Richter — What NCR just Said about the American Retail Quagmire

Retail demand tanking.

NCR, a thermometer into the retail industry beyond the latest sales statistics, has noticed that brick-and-mortar retailers are cutting back. And they’re not just cutting back buying point-of-sale devices; they’re cutting back, period. “Ongoing retail consolidation,” Nuti called it. And some are using bankruptcy courts to do it.

Wolf Street
What NCR just Said about the American Retail Quagmire
Wolf Richter

Joe Weisenthal — A Depressingly Simple Explanation For The Weak Recovery

Why is the economy so weak? It's simple: Inequality. Income gains for the 95% have been meager for a long time, but up until the crisis, households could take on debt to compensate. Now credit has been harder to come by, and so household buying power is limited....

Mediocre income gains for the 95% and no easy access to credit to compensate for that. Depressingly simple.

Business Insider
A Depressingly Simple Explanation For The Weak Recovery
Joe Weisenthal