End Of The Obama-Yellen Economy For the past year the US has been essentially operating on an Obama-Yellen economy, at least as far as the big macroeconomic policies have been concerned in terms of fiscal and monetary policies. We saw basically a continuation of what had been seeing in previous years, steady growth with inflation […]
January jobs report: good headline growth, mostly negative internals. UPDATE: THE BOSSES GAVE THEMSELVES A RAISE HEADLINES: +200,000 jobs added U3 unemployment rate unchanged at 4.1% U6 underemployment rate rose 0.1% from 8.1% to 8.2% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but […]
Kind of hard to ignore the blathering of a Republican jerk on the pay increase a school secretary will receive as a result of Trump/Republican tax break. Gosh darn, she can afford a Costco membership now! What an ass . . . He needs to go. Deleted by Ryan afterwards. Secretary was being sarcastic.
David Dayen at The Intercept points us to the latest on the Consumer Financial Protection Bureau: On Tuesday night, he (Trump)stood before the nation and boasted about the lowest unemployment rate on record for African-Americans. But just hours before his State of the Union address, his lieutenant and handpicked head of the Consumer Financial Protection Bureau, Mick Mulvaney, told […]
Lawrence Summers on Those Employee Bonuses – a Redux of the 1990’s? Lawrence Summers made an interesting comments during a CNBC interview: Former Treasury Secretary and Obama administration economic advisor Larry Summers said Friday that recent employee bonuses are stunts and not reflective of long-term hopes for prosperity that tax cuts are supposed to bring. “I […]
Angry Bear maintains its status as one of FocusEconomics Top Economics and Finance Blogs of 2018. Econospeak is on the list as well, whose authors contribute to Angry Bear. Angry Bear The Angry Bear blog is a multi-author blog that covers news, politics and economics. The contributors to the blog are some of the best […]
The Black Unemployment Rate Josh Marshall listens to Donald Trump so we do not have to: President Trump has been out bragging that “because of my policies” the African-American unemployment rate has dropped to its lowest level ever. This appears to be technically true. But I thought it made sense to give some context for the […]
Is Treasury Secretary Mnuchin Right About The Impact Of The Dollar On US Trade? Maybe yes. In Davos some days ago Treasury Secretary Mnuchin declared that a lower valued dollar would lead to a lower US trade deficit. The dollar promptly fell several percents and various persons and many observers reacted in horror, most prominently […]
Nancy Altman reminds us that Social Security is NOT off the table for Republicans via this post Republicans Are Killing Social Security One Tiny Service Cut at a Time at Slate: Republicans have made no secret of their long-standing desire to destroy Social Security as we know it. Indeed, Sen. Marco Rubio revealed just before Christmas that congressional Republicans […]
Trade was a significant factor in the weak GDP report today and as usual when this happens you see many comments that do not understand why imports are a negative in calculating GDP. We do not directly calculate GDP. Rather, we calculate consumption and adjust that for trade and inventories to obtain GDP indirectly. To […]