General Motors Co. is free from U.S. taxpayer ownership almost half a decade after first receiving government aid, underscoring the domestic auto industry’s rebound from the deepest downturn since the Great Depression.
Allowing emergency unemployment benefits to expire at the end of the year would cause the U.S. jobless rate to decline by as much as 0.5 percentage point, according to Michael Feroli at JPMorgan Chase & Co.
The U.S. has found the secret of delivering tighter fiscal policy and stronger economic growth, exposing Europe’s failure to do the same even as continental policy makers were more vocal in promoting austerity.
It took three decades for the amount of speculative-grade debt to reach $1 trillion. It took about seven years to reach $2 trillion as investors sought relief from the financial repression brought on by near-zero interest rates.