Existing home market inventory and prices move slowly towards normalization, while sales remain punk – by New Deal democrat Since existing-homes sales are less important for economic purposes, and especially with new home sales being reported tomorrow morning, I will keep this brief. What we are looking for is rebalancing in the housing market. For […]
by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.2 Published in 1821, The Source and Remedy of the National Difficulties was a major influence on Marx’s analysis of ‘disposable time.’ In an 1851 notebook, Marx logged a 1000 word summary of the pamphlet. He also discussed it […]
It appears that the democratic nomination contest is wrapped up. People are voting with their wallets. Pelosi and Obama at one point appeared to favor some kind of competitive process, but Pelosi has evidently thrown her support behind Harris. Potential rivals are all standing down. Ezra Klein is still making the case for an abbreviated […]
2020 Census: 1 in 6 People in the United States Were 65 and Over, MAY 2023 Added a chart from the Census Bureau to emphasize the point of an aging population. There are a whole lot of us who are just a few years behind Joe Biden, and society isn’t ready for it. What happens […]
I had presented Part I and Part II a while back. Part III was difficult to present in a piece-meal way so for now I have set it aside. What is interesting about Part IV is I can beak it apart into segments, still maintain the flow of informatio, and present it in a logical […]
Biden’s legacy: a Summary by Noah Smith – an introduction to Noahpinion Noahpinion Joe Biden announced today that he won’t seek reelection for President. We don’t yet know who will replace him, but we know Biden’s tenure in office will soon end. Now is the perfect time to talk about Biden’s legacy as America’s 46th […]
by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.3 Inversion Marx stated repeatedly in the Grundrisse that capital inverts the relationship between necessary and superfluous labour time. Capital both creates disposable time and expropriates it in the form of surplus value, reversing the nature-imposed priority of necessity […]
Morning . . . One other factor I believe you may have missed (too many factors). The 2017 Tax Cuts and Jobs Act did not pay for itself over the last 10 years. Just a small matter of it passing using Reconciliation which insists it pay for itself (being redundant here). The repeal of it […]
– by New Deal democrat Over the weekend Harvard econ professor Jason Furman suggested that the Fed funds rate is not very restrictive: “As inflation has come down the real Federal funds rate has risen and is now the most restrictive it has been this cycle, a point that Austin Goolsbee has emphasized a number of times […]
Kevin Drum pushes back on the WSJ claim that household debt is a problem in America, and Kevin brings the receipts: “. . . debt as a percent of disposable income . . . is currently lower than it was at the end of 2019 (9.8% vs. 10%). “. . . household debt as a […]