It’s history lesson time again. An awful lot of talk and writing about the chained CPI has been focused on the results of its implementation on Social Security. Using this formula for figuring the cost of living ends up reducing the money citizens will receive in their SS checks. One of our commenters, Denis Drew […]
Tzimiskes offers some thoughts on the budget process (hat tip Run75441, and re-posted with author’s permission) Tzimiskes has been blogging for more than 3 years on economics, politics, and public policy. He holds a Masters of Political Science from SUNY Albany, and worked in New York State government for four years before returning to the […]
If you’re a fish merrily swimming in a stream, is it your fault if a flood — say from a large release from the dam upstream — causes you to be washed out through the sluicegates? Or if a drought leaves you trapped in a shrinking pool from which you cannot escape? That’s the question […]
The headline numbers in the employment report were very weak as payroll employment rose by only 88,000 and the household survey reported a -206,000 drop in employment while the labor force fell by -496,000. The futures markets are reacting very badly. But the workweek expanded and aggregrate hours worked increased 0.3% as compared to 0.5% […]
Via Huffington Post comes this quote: One senior administration official offered the following explanation as to why they started with a “compromise” offer. While this is not the president’s ideal deficit-reduction plan, and there are particular proposals in this plan — like the CPI change — that were key Republican requests and not the president’s […]
There is a lot of posting on the proposed budget (out next week) from our President focusing on his insistence of including the cuts to Social Security benefits as part of the 11 dimensional chess game analogy Beltway convention likes to applaud. How clever of them. Yves Smith gives us an impassioned declaration of outrage over the […]
Discussing the failure of modern macro to incorporate the financial system into its models, Ben asks, why did the bursting of the housing bubble spank the economy so much harder than the dot bomb crash? He sez (courtesy Brad DeLong, emphasis mine): …the decline in wealth associated with the tech bubble bursting [in 2001] and […]
Yup. The Republicans won the sequester fight. Congrats!
by run75411 Re-posted from New Agenda April 2009, Bill reminds us of some of the history leading up to today: Editor’s note: We are pleased to present this guest post by Bill H, who’s known around the internet as run75441, and who can usually be found writing in his area of expertise: finance. Recently, Stanford Magazine […]
by reader Matthew McCosker I can credit two sources that have shaped my thinking on both economics, politics (I am quite apolitical these days), and finance. One is the Angry Bear blog, and the second is Warren Mosler.On the bus this morning, I was glued to a post at Warren Mosler’s blog, where he responds […]