From an article posted at ABC News, US Retail Sales Flat in July… “U.S. retail sales were essentially flat in July, providing evidence that consumers have yet to shed their doubts about the economy despite recent job gains. The Commerce Department said Wednesday that seasonally adjusted retail sales were unchanged in July compared with the […]
(lightly edited for ease of reading) Yesterday the Conference of Mayors and the Council on Metro Economies and the New American City released a report prepared by IHS Global Insight that is a repeat and thus update of a similar study performed after the 2001 – 2002 recession. Income and Wage Gaps Across the US. I […]
I have been somewhat of a thorn in the Michigan Republican’s side as I know about the PPACA, can explain how it will benefit Michigan, can show by the Governor’s own report it will not cost Michigan anything up to 2027/28, and I can refute the arguments using economic data on other topics. I have […]
Labor share data going back many years was revised last week. According to these new revisions, the economy has been against the effective demand limit since the beginning of the year. With the stock markets retreating from their record highs, this should not be surprising. Keep in mind that the updated graphs below are based […]
There is a concern that many economists want the Federal Reserve to tighten monetary policy because the inflation monster is lurking out there. Maybe tighten is not the best word to use. “Normalize” monetary policy is a better term. Well anyway, the inflation monster is not lurking while labor share rises so slowly. Then, is […]
Leigh McIlvaine (@Leigh M.) of Good Jobs First alerted me to this article on what Tesla Motors wants in incentives to land its $5 billion Gigafactory: $500 million. This massive 6500 worker facility will produce the next generation of batteries in order to introduce a less expensive line of cars in 2017, the Tesla Model […]
I have written before that Paul Krugman is in a process of illumination about inequality. Today I see that he wrote about how inequality reduces growth. Jared Bernstein wrote about it too. Paul Krugman wrote… “There is, at this point, no reason to believe that comforting the comfortable and afflicting the afflicted is good for […]
For the last 79 years, Social Security has paid out every benefit owed to every eligible American, making it one of the most successful programs in American history. 67 percent of Americans are opposed to any cuts to Social Security.
Kenneth Thomas has covered how many state level deals to entice private companies are bad deals, including sports stadiums, as ‘job creators’ extol their own virtues. Run has covered the defunding of state unviversities and also the rise in tuition and student debt. Robert Waldmann writes about the constant ballance of reporting. Yves Smith has […]