Why Free Public Higher Education Is Not a Sop to the Upper Middle Class Lots of bad op-ed stuff gets published in the New York Times and other mass circulation outlets, so I usually give it a pass, but today’s attack on free higher education by David Leonhardt is about my day job, so I have to […]
A Washington State Carbon Tax Goes Down in Flames Initiative 1631, which would have created a carbon tax in Washington State, lost by almost 12% of the vote this week. Commentators on all sides have interpreted this as a decisive defeat for carbon pricing, making more indirect policies like subsidies to renewables the only politically […]
(Dan here…better a bit late than ….) by Barkley Rosser Monday Before The Midterms And WaPo Is At It Again It is Robert J. Samuelson doing his usual schtick, albeit with some recognition of other issues, such as global warming and immigration. But these are not what has his prime attention on the day before […]
by Steve Roth (originally published at Evonomics) Economists Agree: Democratic Presidents are Better at Making Us Rich. Eight Reasons Why. In 2013, economists Alan Blinder and Mark Watson — no wild-eyed liberals, they — asked a very important question: Why has the U.S. economy performed better under Democratic than Republican presidents, “almost regardless of how one […]
October jobs report: probably the best report of the entire expansion HEADLINES: +250,000 jobs added U3 unemployment rate unchanged at 3.7% U6 underemployment rate declined -0.1% from 7.5% to 7.4% Here are the headlines on wages and the broader measures of underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now: […]
Some good news on workers’ wages There was some good news the other morning about workers wages. The quarterly employment cost index showed a q/q increase of +0.9% for wages (red in the graph below), and +0.8% for overall compensations (blue) (which includes things like medical benefits). Nominal YoY increases were +3.0% and 2.8%, respectively: […]
by New Deal democrat Housing has peaked* *(unless the Fed lowers interest rates)My comprehensive look at September housing data is up at Seeking Alpha. The downtrend in housing statistics has been sustained and severe enough for me to make the call that housing has peaked, by most measures, between last November and this past March. This […]
The Housing Affordability Crisis This morning both the Case-Shiller House Price Indexes for September, and Third Quarter Median Asking Rent were reported, as was the rental vacancy rate. Together they reveal that all types of shelter costs, whether housing or apartments, are at or near record levels. The Case Shiller 20 City index was reported […]
by New Deal democrat Q3 2018 update: “Kasriel Recession Warning Indicator” One of the methods I incorporate into my long leading indicators is the “Kasriel Recession Warning Indicator.” This is something I first read about in 2007, when the eponymous Paul Kasriel, then of Northern Trust and now of Legacy Private Trust Co., wrote that […]
When the stock market headlines the political blogs . . . Here is a graph I saw on Digby’s blog this morning: There was also a highly-recommended, heavily-commented piece at Daily Kos. Here’s a pro tip: when you see a daily stock market move leading the political blogs, it’s a sign of a bottom, not a […]