I have written that the Dow will orbit around the 16,800 level and not go much higher from there. My view is based on Effective Demand causing profit rates to peak and decline. Today we see the Dow back down to 16,719 on worries of global growth and profits which start coming out tomorrow. As […]

I was reading today Paul Krugman’s article, Why Weren’t Alarm Bells Ringing? He is painting a picture of how the crisis formed and secular stagnation followed. It seems that he is trying to paint a complete picture so that anyone could understand the crisis completely just from reading his post. However, he is missing an […]

Via Daily Kos comes this reminder of a local issue reflecting national politics: One year and two months after the idea was first floated, legislation to rezone Berkeley’s Historic Civic Center, including the US Post Office property at 2000 Allston Way, became law last night. Why is this of interest to anyone outside of Berkeley? […]

The title of this post describes the main message of Pavlina Tcherneva’s research. This video is a “must see”. If her message becomes part of the policy approach for the next recovery, we will see much better net social benefits for society after the next recession. (video link)

I clicked on this story at Daily Kos to have a laugh about how unskewing isn’t just for conservatives any more and am very alarmed to find myself almost partly convinced. I confess that I have fallen into at least the near occasion of unskewing. Can We Really Trust YouGov? by Tyler Yeargain If you […]

Note to self: read more Jeff Madrik (hey he wrote books which I haven’t read) but for now read his very interesting and stimulating Op-ed “Our Misplaced Faith in Free Trade” do click the link. After the jump, I will steal fair use the whole op-ed with my comments (is that called fisking ?) but […]

I just sent the following to David Streitfeld, the main reporter covering this dispute for the New York Times. If any of my gentle readers has an answer, I’d love to hear it: Dear Mr. Streitfeld: What I have never found in any coverage (perhaps I’ve missed it?): What is the precise dispute between Amazon and […]

See update at bottom. Pavlina Tcherneva’s chart has been getting a lot of play out there: Vox/Matthew Yglesias labeled it “The most important chart about the American economy you’ll see this year.” Scott Winship at Fortune came back at it on methodological grounds, with the headline “No, the Rich Are Not Taking All of the Economic Pie (In […]

Barack Obama wanted to galvanize Democrats when he insisted this week that his economic policies are on the ballot in November. Instead, the soundbite has already become the centerpiece of new Republican attack ads. Kentucky Sen. Mitch McConnell uses the clip in a new commercial, shared first with POLITICO. Kansas Sen. Pat Roberts turned his own […]