US Economy: Is the Economic Recovery a “Statistical Illusion” ?

Three issues -- unemployment, the economy in general, and dissatisfaction with government -- dominate when Americans name the most important problem facing the nation. Nineteen percent mention unemployment or jobs, 18% say dissatisfaction with government, and 17% the economy in general. Unemployment edged out the other two issues in February, but dropped slightly in March.

In the midst of the federal government shutdown in October 2013, dissatisfaction with government and politicians jumped up to the top of the "most important problem" list. But mentions of dysfunctional government settled back down by February and are now on par with mentions of the economy and unemployment.
In the latest poll, conducted March 6-9, the percentage who cite healthcare dropped to where it was in October, while concerns about the federal budget remained stable for the third month in a row. The percentages mentioning other issues such as education, ethics, and poverty remain at levels similar to February's.

Unemployment, the economy, and the government dominate as Americans' top concerns about the major issues facing the country. Separately, Gallup recently reported that Americans say they worry most about the economy, federal spending, and healthcare when asked to rate their level of worry about 15 issues. Together, these findings confirm that regardless of how the question is asked, the economy and government are the issues that most concern Americans today.

International issues in the news, such as the large-scale protests in Venezuela and the crisis in Ukraine, are currently not major concerns for most Americans. President Barack Obama has pledged to lessen wage gaps and make other measures to combat income inequality, but the public remains more concerned with finding good jobs and lowering the unemployment rate.

Americans Cite Jobs, Economy, Gov't as Top U.S. Problems

Africa's middle class prospers, but at a price

In Ghana, the middle class is growing fast. It's a trend typical across the whole continent. But, there are rising concerns about the impact of the development and whether certain parts of society are being left behind. 

There’s no doubt that “Citizen Kofi” is the place to be seen in Accra. The colorful five-storey building, located in the heart of the Ghanaian capital, can be seen from afar. It's packed with expensive restaurants, a wine bar, night clubs and a "Hollywood Lounge" - everything one might need to host parties and celebrations as well as seminars and conferences.

Anneselma Bentil works here as an event manager. The 32-year-old Ghanaian is responsible for organizing events and marketing. "When Barclays Bank needs a good location for a meeting with 30 to 50 representatives from around the world, they call me to organize it," Bentil told DW, explaining how she makes the necessary arrangements, estimates the costs and meets all the customer's requirements.

Read more: Africa's middle class prospers, but at a price | Globalization | DW.DE | 02.01.2013

Carney Signals Rate Increases May Be Delayed by Europe Crisis - BusinessWeek

The Bank of Canada signaled its decision to raise rates won’t necessarily be repeated soon, reflecting concerns among policy makers worldwide that Europe’s debt crisis poses a risk to the economic recovery.

Governor Mark Carney yesterday became the first central banker in the Group of Seven to raise his policy interest rate since 2008, to 0.5 percent from a record-low 0.25 percent. While citing “robust” domestic growth and inflation pressures, Carney mentioned Europe and its debt crisis four times in a one- page statement that said further increases would be “weighed carefully.”

For more: Carney Signals Rate Increases May Be Delayed by Europe Crisis - BusinessWeek

Michigan Messenger:: US Economy - Mayor Bernero tells CNN that recession ‘ain’t over for a lot of our people’

For the complete report from the Michigan Messenger click on this link

US Economy - Mayor Bernero tells CNN that recession ‘ain’t over for a lot of our people’

Mayor Virgil Bernero was on CNN Wednesday morning responding to statements from Federal Reserve Chairman Ben Bernanke that the recession that has crippled our economy, tossed millions of Americans out of jobs and made the housing crisis worse, is over. Bernero told CNN’s John Roberts that while Bernanke might being seeing hopeful signs in the economy, it is not translating to Michigan. “Look, there’s a long way to go,” Bernero said. “But I would say it is premature at this point to say the recession is over. It ain’t over for a lot of our people. It’s not over for working people. It may be over for Wall Street but I will tell ya there is still a major disconnect between Wall Street and Main Street.”

Note EU-Digest

The disconnect between Wall Street and Main Street has never been greater. It is also risky and unrealistic to make assessments of the US future economic health and overall market performance based upon stocks in which Uncle Sam holds anywhere from a 40-80% equity stake. Trading these stocks is pure gambling, not investing, and every honest economic analyst will agree with that evaluation. While the industrial segment of the US economy appears to be stabilizing as a result of savings made by reducing the payrolls by millions of people, the consumer, which controls 70% of the US economy, remains severely stressed. Delinquencies and defaults continue to run at a record pace across almost every form of debt, including mortgages, and credit cards. Also looming in the background as another danger is the commercial real estate market, which is ready to collapse at any moment.