June jobs report: excellent establishment survey, mediocre household survey HEADLINES: +224,000 jobs added U3 unemployment rate rose 0.1% from 3.6% to 3.7% U6 underemployment rate rose 0.1% from 7.1% to 7.2% Leading employment indicators of a slowdown or recession I am highlighting these because many leading indicators overall strongly suggest that an employment slowdown […]
On Gerrymandering: “The United States shall guarantee to every State in this Union a Republican Form of Government” Previously I have written that the Fourteenth Amendment specifically provides for a reduction in representation for any state that engages in voter suppression. Section Two of the Fourteenth Amendment provides in part: “[W]hen the right to vote at any […]
I Think, Therefore I Know: San Francisco Edition Strange as it may seem, the biggest stumbling block on much of the left may be a crude philosophical error, dogmatic subjectivism. This is a position that holds that subjective experience is the highest form of knowledge, whose claims can’t be challenged by “lesser” criteria like logical […]
You can not use inflation data like the CPI to compare living cost is one location to another. So the BEA has constructed a database of Regional Price Parities ( RPP) that allow you do do that for all states and the some 383 Standard Metropolitan Areas in the USA. I was preparing to show […]
Elliott Maraniss It’s with more than average interest that I just read a review of David Maraniss’ new book about his father Elliott, A Good American Family: The Red Scare and My Father. I knew Elliott during my years in Madison as a contributing writer to his newspaper, the Capital Times, and as an informal sounding board for his […]
In which I nitpick Prof. Jared Bernstein about a consumer “economic tailwind Last Friday, following the release of May’s personal income and spending report, Prof. Jared Bernstein, whom I follow religiously, wrote among other things about some economic headwinds and tailwinds, including the following: Finally, my personal favorite tailwind indicator [pointing to the below graph]: the close […]
Iran Nuclear Deal: Better Late Than Never? Monday has seen a curious coincidence that I have seen nobody else comment on regarding the status of the JCPOA Iran nuclear deal. On the one hand Iran has apparently now officially violated the agreement in terms of the amount of low level enriched uranium it has, going […]
Housing: Elizabeth Warren v. John Cochrane Noah Smith has a lot of praise for the economic policy proposals from Elizabeth Warren. I’ll mention only one: With costs for shelter eating a bigger piece of Americans’ paychecks, and local government paralyzed by incumbent homeowners, the country needs a big solution. Warren’s would combine incentives for raising zoning […]