The OECD has finally updated their national account data with 2011 info for most countries, so I thought I’d update this post from a couple of years ago. If you’re thinking that the current (overblown) hoo-ra-ra about U.S. government deficits is a result of too much spending, or that U.S. taxes are insanely high and […]

I’ve ground the axe quite a bit over the years for the argument that Kevin Drum makes — and dismisses — here. In brief: poorer people spend a larger share of their income/wealth than richer people. So if poorer people have more income/wealth — if the distribution is more equal — there will be higher […]

He’s only been blogging since March. His credentials? “Independent Researcher on the equation for Effective Demand.” That may explain why, aside from a lonely Steve Randy Waldman link, I’ve seen no mention of his work out there. Just another internet econocrank? I’m wildly unqualified to pass judgment, but Lambert’s built what strikes me as a […]

I’m quite tongue-in-cheek in asking that question, but nevertheless: I present for your delectation what at first blush seems like a revealing bit of chart porn (hat tip: Zero Hedge): You could flip this upside down and replace “Earning Yield” with “PE ratio.” The data displays a remarkably regular relationship. Equity investors seem to be most optimistic […]

I’m joking of course. He’s still grinding the supply-side axe (though judiciously here, IMO). But you gotta admire a fellow when he follows the logic of the data where his own logic requires him to go. He’s just done three posts about Germany’s growth and unemployment rates through the great recession: Annualized change, Q1 2006 […]

At risk of stating the obvious, in this post I’d like to highlight a pernicious misunderstanding that I find to be widespread out there in the world. This is not new thinking. You’ll find a more sophisticated historical account, stated very clearly though in somewhat different terms, in the first few pages of this PDF. Still, […]

An old friend dropped by recently and we had a few beers on the back deck. He runs his family’s commercial real-estate business; they own and operate half a dozen or so pretty large properties (and just bought another) — a mall, office buildings, mixed use. I was really curious to talk to him about […]

This if nifty, from The Wall Street Journal: Hat tip Barry Ritholtz. Cross-posted at Asymptosis.

That is all. FRB: Press Release–Federal Reserve issues FOMC statement–May 1, 2013. Cross-posted at Asymptosis.

Fiscal austerity–or deficit cutting–is the subject of much current debate. As Europe proves, severe austerity can slow growth or lead to recession. Despite periodic slowdowns, the US economy is on a sustainable fiscal path. The deficit is projected to drop below 2.5 percent of GDP by 2017, below its 30-year average, helped partially by the […]