by New Deal democrat Why hasn’t increased household formation led to increased housing construction? Tim Taylor has an interesting article about “What was different about housing this time?” Specifically, why has housing in both building terms and as a share of GDP risen so slowly since 2009. To cut to the chase, he writes that […]
by New Deal democrat Aside from a shortage in starter housing for Millennials,there is NO inflation Yesterday’s CPI report seems to be read as potentially justifying an interest rate increase in June. For example, here’s Professor Tim Duy, on Fed hawks: Inflation rose on the back of higher gas prices. Headline CPI gained 0.4 percent, […]
Tomorrow, behind closed doors with Paul Ryan & Friends, he will swear fealty to Mitt Romney’s platform. And not just the part written literally, it turns out, by the Heritage Foundation and CNBC! Also the part written by the Federalist Society. Including on Supreme Court and lower-court appointments. Suffice it to say that his promise to […]
MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars) Don’t have a lot to say except to note that previous versions of this table lumped together “Oil Producers” and “Caribbean Banking Centers” while this disaggregates them. This leaves the Cayman Islands in third place at $265 bn while putting Saudi Arabia down to 13th […]
I apologize for actual discussing economics and health care today, but this one I couldn’t let lie. The University of Chicago’s Booth School of Business’s IGM Forum Mark Thoma) reports; you decide. If reducing the value of the policies held by those who are continuously employed, either by taxing them or forcing those people to […]
The AFL-CIO’s plans for a super PAC to take down Donald Trump ran into a big snag Monday, when one of the labor federation’s major affiliates objected to the involvement of billionaire climate activist Tom Steyer. Sean McGarvey, president of the AFL-CIO-affiliated North America’s Building Trades Unions, co-signed a letter with seven other union presidents urging federation President Richard […]
My post of 13 days ago is now current events. R.I.P., with a couple of reprises: Lyle Lovett discussing and covering the first song Clark ever wrote (and never himself recorded). I don’t know if Guy Clark was ever young, but I defy anyone this side of Prince or Bruce Cockburn to figure out what […]
In the study of economics, one learns the circular flow of the economy between firms and households. This post however presents another circular flow model based on capital and labor. (It is a closed economy with no government for simplification.) There are 4 pools within this circular flow related to the income and utilization of […]