The Global Economic Outlook: Lacy Hunt's Perspective
What The Huge Downward Revision In The Jobs Data Means For The Economy | Dr. Lacy Hunt (YouTube link ) In this interview, Lacy Hunt, a renowned economist, discusses the state of the US economy with Julia La Roche. Hunt begins by highlighting the significant flaws in the Bureau of Labor Statistics (BLS) payroll data. The conversation then delves into broader economic issues, including the economic lifecycle and global economic factors. Key Takeaways from Lacy Hunt's Economic Analysis These are the main takeaways from Lacy Hunt’s interview The Bureau of Labor Statistics (BLS) payroll data is significantly flawed, with a five standard error miss in 2023. This has led to a misperception of the economy's health. There is a net negative national saving in the US, meaning the government's spending exceeds its income. This is a serious problem because it reduces resources available for investment and economic growth. Government policies, such as deficit spending, have not bee...