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Showing posts with the label Peter G. Peterson Foundation

2017 Fiscal Summit by Henry Zhang, Impact Investing Intern, University of Toronto

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The US is in major trouble, this being the gigantic amount of debt it has issued. The debt burden is getting bigger by the second and shows no sign of stopping.

For those that aren’t sure what this means, it means less public spending in the future, more inflation, and a large scale economic crisis ahead.

Major trouble attracts major attention, so on May 23rd, 2017, the well known Peter G. Peterson Foundation hosted the 2017 Fiscal Summit, with prominent speakers like Senator John McCain, Senator Mark Warner, House Democratic Leader Nancy Pelosi (and many others) all convening to discuss the national debt, the current political landscape, and implications of the debt for the nation's future.

The key message from the conference is this: nothing can be done and nothing will be done unless the Republicans and the Democrats work together. Right now, there’s little hope for that.

Bipartisanship is an unknown land at this point, and very, very far away, since each party sees the other …

US GDP Forecast

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The Bureau of Economic Analysis at the U.S. Department of Commerce will release the second estimate of First Quarter 2015 US GDP on Friday at 8:30 am. Gross Domestic Product (GDP) is the the broadest measure of economic activity. Most forecasters are predicting GDP will decline by 1.0% from the earlier quarter (4th Quarter, 2014.)

Our 2015 Fully Adjusted Return® forecast for GDP suggests there will be no change, in other words, we will have a first quarter 2015 GDP estimate that reflects virtually no change, or negative 0.5%." 

The US economy is strong and getting stronger. The only thing that can damage it are policy mistakes (like raising interest rates too soon) by officials at the Federal Reserve, and this is reason to be concerned. 

Fed economic policymakers, especially the group at left:MODERATOR: BETTY LIU ANCHOR, “IN THE LOOP WITH BETTY LIU,” BLOOMBERG TELEVISION, ALAN GREENSPAN PRESIDENT, GREENSPAN ASSOCIATES; FORMER CHAIRMAN, FEDERAL RESERVE BOARD, RICHARD W. FISHER FORMER…