This was the first pass (Ernie Tedeschi of Evercore prepared the data) and it is arranged by the percentage of loans completed in each state. As you can see Nebraska received ~81% of the loans applied for by the small businesses in Nebraska. One million, 35 thousand and 86 SBA PPP Loans (1,035, 086) were […]
I missed this when it first came out: We think that the debate regarding extreme social distancing has a clear verdict — it is imperative that we should engage in this social distancing (shelter in place for all but essential workers) at least for the foreseeable short-term, but for reasons that both sides have missed. Our […]
The House yesterday approved the Payroll Protection Program and Health Care Enhancement Act. The PPP part of the law quite literally just increases the amount of money allocated to the program. That’s it. The law does almost nothing to fix the serious defects of the program in the original CARES act. This is remarkable because […]
The actual US coronavirus trajectory: “flattening the curve” at least until 2021 “Flattening the curve” was not such an appetizing option either, because it meant that *everybody* got infected with the disease during the period of flattening, and so the death toll would still be horrifying, perhaps 1% to 3%. It also meant that the […]
by Dale Coberly The Social Security Trustees Report is out. SS now in “short term actuarial insolvency” Much (lies) will be made of this. The Report does not lie, but it does obscure the fact that a 2% increase in the payroll tax will still solve the problem. the one tenth percent per year gradual […]
It should be worth noting that the federal deficit under Trump is already at 5% of GDP even before the Coronavirus stimulus begins. Figure 1 Interestingly, if you look at the long term record the only policy or strategy that fits the data is the Republican policy of starve the beast. That policy is to […]
Rates of testing, positive tests, and new infections by State So that I don’t lose them, I wanted to publish both the rates of testing (and positive tests) by State, as well as the (Rt) or rate of new infections for each. Both of these are as of last week. Here is the rate of […]
(Dan here…a day late to AB better than not) Happy Sesquicentennial Birthday, Vladimir Lenin! (Oh, And Happy Half Century Earth Day) A half century ago today was the first Earth Day, which I paerticipated in while at the University of Wisconsin-Madison. Although I did not know him well, I even met the founder of the […]
Stairway to Serfdom I posted the above chart four days ago in “From Social Distance to Social Justice” to illustrate Arthur Dahlberg’s argument about the eventual consequences of a declining labor share of income. Dahlberg was inspired by Stephen Leacock’s The Unsolved Riddle of Social Justice and both Leacock and Dahlberg were influenced by Thorsten Veblen. The chart […]
Matt Yglesias has a good piece up explaining why “opening” the economy now won’t save the economy. The reason is that people will continue to avoid contact with others until the epidemic is brought under control. Simply allowing restaurants, theaters, and workplaces to open will not change this basic fact. Indeed, airlines are still open […]