Previously Published in CERF’s September California Economic Forecast There are no surprises in our California forecast.  There aren’t any changes either.  We expect California to continue plugging along as it has for several years now.  The growth on average will be slow, but the Bay Area will do better. We don’t see much upside potential. … Read more

Previously published in CERF’s September 2016 Economic Forecast publication: I have complained for years that California’s economy is not performing as it should, and it’s not working for a large part of the population, young people, minorities, less educated workers, even much of the middle class.  Those who disagree with me point out that, measured… Read more

Previously Published in CERF’s September 2016 California Economic Forecast: It’s time for another presidential election.  Each candidate is promising new initiatives that will bring prosperity to Americans.  So, we’re forecasting vigorous economic growth?  No. Our forecast is pretty much the same as it’s been for years, anemic economic growth as far as we can see.… Read more

Previously Published by Bill Watkins in the September 2016 California Economic Forecast A decade of slow or declining economic and job growth has been accompanied by fundamental changes in America’s job composition.  Those changes have caused profound disruptions in the lives of millions of workers, primarily low-educational-attainment workers, and their families. The situation is not… Read more

In late 2008, U.S. banks accelerated consolidation driven by intense Federal government pressure (many failing banks were “saved” by being acquired by a larger bank). This yielded a banking structure where today the largest five U.S. banks control over 44 percent of the nation’s banking assets. The five largest U.S. banks held assets of $6.7… Read more

Once a year, the U.S. Bureau of Economic Analysis (BEA) releases a new set of economic growth estimates that include not yet released numbers for the second quarter and revisions to historical GDP estimates as far five years back. Today is that day. The first estimate of 2015’s second quarter economic growth is 2.3 percent,… Read more

Here’s what the OECD has to say about the global economy: But the global economy can be characterised (sic) as only achieving a muddling-through “B-minus ” grade. Global growth in the first quarter of 2015 was weaker than in any quarter since the crisis. And although this softness is seen as transitory, productivity growth continues… Read more

Fourth quarter United States GDP contracted by about $5 billion dollars, which is 0.1 percent negative growth annualized. This is after 3.1 percent growth in the third quarter which was the strongest quarter in 2013. The largest drivers of the fourth quarter decline were a contraction in government spending of 6.6 percent and a change… Read more

The advance estimate of U.S. third quarter GDP was released this morning, indicating that the economy grew at 2 percent. Third quarter growth was driven by private consumption and government defense consumption. Investment expenditures were weak, and trade was a small drag on third quarter growth. Business investment expenditures actually contracted, while residential real estate… Read more

The first release of GDP data came out this morning with an advance estimate of 2.2 percent growth for quarter 1. Contributions of growth from the major components were: Consumption Expenditures                       2.04 Investment Expenditures                           0.77           Fixed Investment                             0.18           Inventory                                          0.59 Government Expenditures               … Read more