As I reported last month, the Government Accounting Standards Board (GASB) has proposed new rules that would require state and local governments to disclose subsidies in their financial reports. The proposal is now open for public comment from now until January 15, 2015. Good Jobs First, which has long advocated for this change in accounting […]
Yesterday, I wrote here in response to a statement by Greg Sargent that “McConnell’s only way to re-litigate Obama’s policies will remain budgetary guerrilla warfare that will only work if Obama allows it to work, which he won’t, which he won’t.”: McConnell’s only way to re-litigate Obama’s policies will remain budgetary guerrilla warfare that will only work […]
Real rates are currently negative. (0.2% Fed rate minus 1.6% core inflation) Yet the natural real rate is estimated to be around +1.6% due to positive population growth and positive productivity growth. Normally the real rate returns to its natural level. Will the real rate rise to its natural level in this business cycle? Real […]
Noah Smith opened the debate again on the Neo-Fisherite movement… What is the movement of which I partake as a Neo-Fisherite? When nominal rates are stuck, then changes in inflation will be compensated for by an equal and opposite change in the real rate. The equation is simple… constant nominal rate = real rate + […]
This.
Here is a link to an article at Vox which includes insights and wisdom into the effect of falling labor share globally. Monetary Policy and Long-term Trends Excerpts… “There has been a long-term downward trend in the share and strength of labour in national income, which is depressing both demand and inflation.” “… So, the […]
Presuming Republicans win the Upper Chamber, Senate Majority Leader Mitch McConnell will claim a new era of constructive governance has arrived, while simultaneously claiming a mandate to chip away at President Obama’s already achieved policy gains. (Those who profess a love for bipartisan cooperation will politely ignore this absurdity.) But McConnell’s only way to re-litigate […]
Sen. Tom Harkin said Monday that he shouldn’t have compared Joni Ernst to singer Taylor Swift and added that “in no way did I intend to offend” the Republican Senate hopeful. “I shouldn’t have said those things, I know that. I regret anytime someone feels offended by what I have said,” the retiring Democrat said […]
Happy Election Day! Update: To check live results for the Senate Race as each state closes, go here; Huff X Pollster; Election 2014 For weeks now, I have been following Sam Wang’s election notes on the Princeton Election Consortium blog leading up to today’s election. I hope he is wrong; but, it “appears” the best […]