From an interview on NPR’s Here and Now comes: “The official actuaries of the Social Security system say in order to get our Social Security and retirement funds in balance, they’d have to cut benefits by 25 percent indefinitely into the future,” he says. “Do I think it’s going to happen? Well I don’t know, […]

As predicted, a deeply unpopular Trump stomped on the GOP message; early races I’ll be watching Tuesday night As I wrote a few weeks ago, whatever message Congressional GOPers might have wanted to put out (like, “our tax cuts helped spur the best economy in years!”) got stomped on by Donald Trump. As it turns […]

by Steve Roth (originally published at Evonomics) Economists Agree: Democratic Presidents are Better at Making Us Rich. Eight Reasons Why. In 2013, economists Alan Blinder and Mark Watson — no wild-eyed liberals, they — asked a very important question: Why has the U.S. economy performed better under Democratic than Republican presidents, “almost regardless of how one […]

October jobs report: probably the best report of the entire expansion HEADLINES: +250,000 jobs added U3 unemployment rate unchanged at 3.7% U6 underemployment rate declined -0.1% from 7.5% to 7.4% Here are the headlines on wages and the broader measures of underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now: […]

PENSACOLA, FLORIDA (The Borowitz Report)—Backtracking from his earlier suggestion that the military should fire upon migrants if they throw rocks, Donald J. Trump said on Saturday that he was ordering the military to respond to rocks with either paper or scissors. Speaking at a rally in Pensacola, Florida, Trump said that the decision about whether […]

by New Deal democrat Weekly Indicators for October 29 – November 2 at Seeking Alpha My Weekly Indicators piece is up at Seeking Alpha. Several areas, like rail traffic, saw significant rebounds. But interest rates also rose to new expansion highs as well. As usual, not only does clicking and reading the article bring you up […]

ISM new orders posts lowest reading in nearly 2 years The ISM reported the other day that The October PMI® registered 57.7 percent, a decrease of 2.1 percentage points from the September reading of 59.8 percent. The New Orders Index registered 57.4 percent, a decrease of 4.4 percentage points from the September reading of 61.8 percent. On Tuesday […]

Trump Says Dems Support Venezuelan “High Taxes And Open Borders” The  average tax rate in Venezuela is 25%. The average tax rate in the US is 26%.  Sorry, Trump, this is yet another lie by Trump, but what else is new on this? I do not know the details of Venezuelan of immigration policies, but […]

Three weeks ago, in response to the IPCC report warning that CO2 emissions had to be reduced to 45% of their 2010 levels by 2030 to avoid the possibility of global temperature rising above 1.5°C, I posted “The IPCC 1.5° C Report and the Ten-Hour Week,” (also posted at Angry Bear) which offered the sketch of […]

Some good news on workers’ wages There was some good news the other morning about workers wages. The quarterly employment cost index showed a q/q increase of +0.9% for wages (red in the graph below), and +0.8% for overall compensations (blue) (which includes things like medical benefits). Nominal YoY increases were +3.0% and 2.8%, respectively: […]