Specifically, the skills and morale of the long-term unemployed have been eroded. Detached from the labor market, they lack incomes to spend; and, stigmatised by long-term unemployment, they are not regarded as attractive employees.
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Now is the time to rebuild our national infrastructure - Opinion - The Boston Globe
While thats true, it remains clear that the current rate-setting, combined with the Governments absurd Help to Buy scheme, is juicing up the housing market to a dangerous degree. House prices are up 9.1pc across the UK over the last year and a ridiculous 17.1pc in London. And where house-price inflation goes, the rest of the economy usually follows. Higher rates could push up sterling, of course, making life more difficult for UK exporters. That would do little to address our record trade gap and I accept thats a risk.
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Raise rates now or risk far more pain later on - Telegraph
Continue reading below I travel constantly. Calls to my office on my iPhone are less likely to drop driving from Beijing to its airport or from Almaty in Kazakhstan to its airport than driving from the airport into Boston, New York, or Washington. I know Im not alone in experiencing such problems. Surely, at a time when US companies are holding close to $2 trillion in cash, earning next to nothing for balance sheets, we should be investing in improving this frustrating deficiency. As secretary of the Treasury during the Clinton administration, I used to visit a public school every time I went to a city outside Washington.
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