10 Sunday Reads

My easy like Sunday morning reads: • How the Economic Lives of the Middle Class Have Changed Since 2016, by the Numbers (New York Times) • That Big Mac and Coke Now Comes With a Side Order of Inflation (Wall Street Journal) • How America Became a Nation of Yoga Pants (Bloomberg) • These Are the Bad Times (Hmm Daily) • First…

Read More

The post 10 Sunday Reads appeared first on The Big Picture.

Despite rapid growth in wages, Trump should be concerned | Larry Elliott

This is as good as it gets for the president’s first term – labour shortages will fuel interest rates

The US has its lowest unemployment rate since Richard Nixon was in the White House 48 years ago. Wages are growing at their fastest rate in almost a decade. No other G7 country will come close to matching America’s growth rate this year.

All of which ought to be a concern for Donald Trump. If that sounds weird, consider the facts. When running against Hillary Clinton in 2016, Trump said he would put the world’s biggest economy back to work and so far he is doing so. He said he would repudiate or rewrite the “horrible” trade agreements his predecessors entered into and he has been as good as his word. The promise in his inauguration speech to put “America first” has been met in full.

Related: Trump’s WTO threats matter – especially to a post-Brexit Britain

Related: An economic recovery based around high debt is really no recovery | Larry Elliott

Continue reading…

Unlike David Cameron, we can’t flee Brexit disaster | William Keegan

Our former PM apparently has regrets over the EU referendum. We have to deal with the consequences of his mistake

Almost everywhere I go, people ask me: “Where is David Cameron?” I must admit that I occasionally bump into him. He gives a superficial impression of insouciance, but one hears on the grapevine that, privately, he regrets having called that referendum.

Now we also hear that “friends” of Cameron say he wishes at some stage to return to a cabinet job, although presumably not under Theresa May. Has he no shame?

I am reassured that commentators have not been fooled by claims that Hammond’s budget heralded the end of austerity

Continue reading…