by Dale Coberly THE CBO AND SOCIAL SECURITY HYSTERIA and HONEST MATH The Congressional Budget Office (CBO) recently released a new projection for the costs of Social Security [no citation. I looked up the link in the AEI article (below) and did not immediately find a projection for SS]. They say that increases in […]
Sorry for such thin postings lately but life happens. Hat tip to stormy for this reminder of a trade agreement not making the news. Use TPP in search to see other postings from Kenneth Thomas and Dan Becker: Via Truthout comes this item So far, the TPP has been drafted with an unprecedented degree of […]
Via Naked Capitalism comes this video discussion FIVE YEARS ON, LEARNING LEHMAN’S LESSONS FROM THE PANIC OF 2008- Panel Discussion in a panel discussion with James K. Galbraith (Economics Professor at the University of Texas), Neil Barofsky (former Inspector General for overseeing TARP), John Coffee (Law Professor at Columbia University). A link to the entire event, including Elizabeth […]
Paul Krugman asked today… “Are we getting close enough to “full employment” that it’s time to let up on the gas? How much slack is there in the economy, really?” By letting up on the gas, he is referring to tapering by the Federal Reserve. Tapering would signal tightening as he ends his post with […]
Thank you contributors and readers, it’s true. We are listed at 34th this time, even missing Robert Waldmann and Kenneth Thomas mentions in Paul Krugman’s New York Times columns this month as rankings were determined in July. Onalytical Indexes publishes their Top 200 Influential Economics Blogs – Aug 2013 by Andreea Moldovan It’s been several months since […]
Last week the 2nd quarter numbers for labor share of national income came out. Labor share ticked up a bit from the previous quarter, but pretty much exactly the same. There is a graph I use to detect if a recession is imminent. The graph gets updated as the labor share number is revised. Here […]
Vis Brad Delong’s post on CORRECT PREDICTIONS AND THE STATUS OF ECONOMISTS Paul Krugman is certainly right that history has judged, and that the judgment of history is for James Tobin over Milton Friedman so completely that there is not even a smudge left where Friedman’s approach to a monetary theory of nominal income determination […]
July 31 saw the latest release of European Union unemployment numbers, and Monday’s gross domestic product figures brought no joy, especially for Greece. As Think Progress reports, Greek unemployment hit a new record of 27.6 % in May, while Spain’s June unemployment figure was 26.3%, according to Eurostat. As the world’s biggest experiment in austerity, […]
My last post on the circular flow using labor and capital incomes sure was a mess. As you would see, some of the post had to be scratched out. I was not happy with the circular flow. What you are witnessing is a creative process. The circular flow model needed a lot of work. So […]
Yves Smith gives Angry Bear Edward Lambert a nod in Profitless stocks, Underinvestment, and the cannibalization of labor, and levitating stock prices. As this trend has accelerated, we’ve also seen falling levels of corporate investment. As I noted in a 2005 article, companies were net savers, which was unheard of at any time other than in […]