Some Common Cents for August 15th 2014

August 15, 2014, by John Norris

This morning, I saw a headline which used the word surreal to describe the US economy. According to Merriam-Webster, the definition of surreal is: “marked by the intense irrational reality of a dream; unbelievable, fantastic.” This is apt. When I pour through the data and look at trends, I keep coming back to a modestly growing economy that is vulnerable to external shocks. In other words, yes, the economy is growing at a mediocre, but...

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