Via New York Times comes this notice: Five federal agencies are expected to vote to approve the rule on Tuesday, representing a potential shift in the balance of power in financial reform as regulators gain more leverage over the largest banks. Although it counts as only one of 400 rules under the Dodd-Frank financial overhaul […]

by Dale Coberly FLYING SAUCERS, THE YOUNG, and SOCIAL SECURITY What if the Social Security Trust Fund WAS Worthless IOU’s George Bush liked to tell us “the young” were more likely to believe in flying saucers than they were to believe they would ever see any benefits from Social Security. First, let me assure you […]

by Dale Coberly 2013 Trustees Report: Social Security is Running Out of Worthless IOU’s! 9.6 Trillion Dollar Unfunded Deficit! ho hum I did not take a hard look at the 2013 Trustees Report when it came out last Spring because I thought I knew pretty much what it would say, and what it would amount […]

Economic Populism Is a Dead-End for Democrats recently appeared in The Wall Street Journal, appropriately enough, and comes from Third Way.  A commenter asked why it was important to list who was on the trustee list, which included some Dems and others.  I won’t go through the laundry list on taxes, social safety net, and other […]

A note at  Baseline Scenario  seemed ironic at a glance : Preventing Regulatory Capture is finally on sale (which means you can’t download it for free from Tobin anymore)    ( Preventing Regulatory Capture.)

It’s critical to understand that Third Way presents itself as “centrist” and a think tank: Third Way Via Huffington Post Bill Black summarizes the profiles of the trustees: Twenty of the twenty-nine trustees come from finance (counting the lawyer whose specialty is representing private equity firms). Their most common background is Mitt Romney’s — private […]

by Linda Beale Does Lowering Corporate Tax Rates Create Jobs? Answer is a resounding “no” For years (decades, actually), the American pro-wealthy right has argued that lowering corporate tax rates will create jobs.  That is the presumed purpose behind the push by Dave Camp to enact a tax reform package with lower corporate rates, and […]

by Robert Waldmann Dreadful Plumbing with Downward Nominal Rigidity Dreadful plumbing with downward nominal rigidity This is a legible version (thanks Dan) of this post. This is the pointless math post which accompaniesthis and especially this post at angrybearblog. Here I am assuming that transition out of the liquidity trap is predictable. This means that […]