CNBC has a video on youtube about the concern over machines replacing people. They actually touch upon many relevant aspects of the issue… high unemployment, increasing corporate profits, productivity of machines, rising real GDP, stagnating median household incomes, low minimum wages and even social instability. Replacing people with machines, like paying lower real wages, is […]
A quick post about a video that came out on July 17th on youtube. It is a video over one hour long where John Mauldin has a series of interviews with Mohamed El-Erian, David Rosenberg, Barry Ritholtz, John Hussman and Kyle Bass. These economists give their insights into “investing in the New Normal” economy. The […]
On June 10th, 2009, Paul Krugman gave a lecture at the London School of Economics on how economics should be taught differently after the crisis. (It was actually the third lecture over 3 days. All 3 lectures are available on youtube and I highly recommend them even after 4 years.) Paul Krugman made 3 references […]
by Tom aka Rusty Rustbelt Book Review: So I got to spend most of Saturday evening and Sunday morning in the emergency department of the local hospital, once again proving to my wife that men are stupid. Not to waste time I took Alan Blinder’s new book with me. After the Music Stopped is a […]
by Tom aka Rusty Rustbelt Health Care Thoughts: Question for the readers I’m in the mood to think about technology, and have the following questions: Which of these would be your preferred method of receiving health care updates, more detailed than a typical health care thought AB post? specialty blog/s pod casts Internet radio (see […]
Bill McBride at Calculated Risk offers this comment on labor force participation rates: Note: A significant portion of the decline in the unemployment rate from 10.0% in October 2009 to 7.6% in June 2013 was related to a decline in the participation rate from 65.0% in Oct 2009 to 63.5% in June 2013. If the […]
An NPR article and a Marketplace piece, which feature Milwaukee fast-food workers, highlight a hidden issue among low-wage jobs — many have such random work schedules, they can’t even get a second job to supplement their income. A new NELP report highlights “Taking the Low Road: How the Federal Government Promotes Poverty-Wage Jobs Through its […]
The recent Good Jobs First report Megadeals is the most detailed compilation to date of the largest economic development incentive packages ever given by state and local governments. Defined as incentive packages of $75 million or more in nominal value, these deals have multiplied in both number and value in recent years as governments compete […]
by Tom aka Rusty Rustbelt Health Care Thoughts: Obesity Again According to NBC News this week up to 5000 air ambulance flights (out of about 600,000 per year) are being cancelled because the patient is too large to fit in the copter and/or too heavy for safe flying. Typically some of the medical specialists will […]