Relevant and even prescient commentary on news, politics and the economy.

Profitless stocks, labor, and higher stock prices

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 […]

Ricardo and his followers and Krugman

Paul Krugman points to Angry Bear Robert Waldmann in two separate posts this week here and here. by Robert Waldmann “Ricardo offers us the supreme intellectual achievement, unattainable by weaker spirits, of adopting a hypothetical world remote from experience as though it were the world of experience and then living in it consistently. With most […]

OBAMACARE,THE SEQUESTER and part time employment

It is time to get serious. There are widespread claims that firms are cutting  hours worked and converting full time jobs into part time jobs because of Obama-care. So what does the data say.  Below is a table of unpublished data from the Bureau of Labor Statistics (BLS) of part time employment by private and […]

Ways and Means–still distracting with false scandals

by Linda Beale Ways and Means–still distracting with false scandals GOP representatives Camp and Boustany are continuing to beat the dead horse of an IRS “scandal” connected with the way the IRS has attempted to efficiently filter new applications for 501(c)(4) status to provide extra scrutiny to the most likely groups to be engaged in […]

Why is inflation so low?… asks Menzie Chinn

Menzie Chinn over at Econbrowser posted on low inflation today. His argument is that there is still lots of slack from real GDP being way below potential real GDP and from high unemployment. The idea is that abundant slack depresses prices. Inflation is generated as slack capacity is utilized. It’s the normal result of labor market […]

The Employment Situation

   Although the July employment report was weaker than expected, it was still in line with recent experiences. The household survey reported employment gains of 204,000 while the payroll report showed a gain of 162,000 jobs. Average hourly earnings for all employees on private nonfarm payrolls edged down by 2 cents to $23.98, following a […]

David Sirota Agrees with me on the Tax Reform "Secrecy" Scandal

by Linda Beale David Sirota Agrees with me on the Tax Reform “Secrecy” Scandal As I mentioned in an earlier post, Max Baucus has established a secret submission process for Senators to let him know what pet tax loopholes they want to retain (probably the ones that high-paid lobbyists representing corporations with operations in their […]