Mainstream Economics become the celebration of the wealthy rentier class To paraphrase Mark Twain, everyone complains about inequality, but nobody does anything about it. What they do is to use “inequality” as a takeoff point to project their own views on how to make society more prosperous and at the same time more equal. These […]
Via AOL is an interesting program: The Federal Emergency Management Agency is testing a new “presidential alert” system nationwide for the first time next week that will make it possible for Donald Trump to directly message nearly everyone in the nation who has a cell phone. Officials insisted that the system cannot be used for […]
by New Deal democrat August producer data goes in the opposite direction from the consumer I have a new post, “Producers are Hot*, but Consumers Maybe Not,” up at Seeking Alpha. in which I contrast the white hot ISM manufacturing report with the lackluster motor vehicle sales and residential construction — the two biggest durable consumer […]
August jobs report: overall progress, with some new highs and some givebacks – by New Deal democrat HEADLINES: +201,000 jobs added U3 unemployment rate unchanged at 3.9% U6 underemployment rate declined -0.1% from 7.5% to 7.4% (NEW EXPANSION LOW) Here are the headlines on wages and the broader measures of underemployment: Wages and participation rates Not […]
by Joseph Joyce The Euro At Twenty: Mody’s EuroTragedy The euro will mark its twentieth anniversary in 2019. Is this a cause of celebration and congratulations? Or a case of a well-intentioned policy gone awry? Ashoka Mody in his new book , EuroTragedy: A Drama in Nine Acts, offers an account that shows that the joint currency […]
by New Deal democrat Weekly Indicators for August 27 – 31 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Several of the long leading indicators have deteriorated further.