Four experts in economics and markets discuss what’s wrong with the job market, what’s ahead for the Fed, and why the stock market could be signaling a buying opportunity in a freewheeling discussion held at Camp Kotok in Maine. Camp Kotok is a gathering of financial industry experts held each year in Maine. Philipa Dunne, Co-Editor of the Liscio Report, said she is discouraged by what’s going on the job market. She said while the official government numbers show job gains, wage growth continues to lag, as does confidence. ’If you go out and talk to people who have ordinary jobs, not in certain high-powered jobs, but ordinary workers, they’re still afraid of getting laid off,’ said Dunne. ‘ The panel expressed concerns about overall economic growth, in the U.S. and abroad. ‘If the U.S. is the global locomotive, and you’re hearing that there’s no wage inflation, there’s no boom in the U.S., the picture outside is even less cheery,’ said Caroline Miller, Chief Strategist at BCA Research.’ There’s just a global deficiency of aggregate demand, whether you are looking in China, Europe, Japan or the rest of the developing world.’ Miller is also concerned about the impact of the strong dollar.
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