Biden’s legacy: a Summary by Noah Smith – an introduction to Noahpinion Noahpinion Joe Biden announced today that he won’t seek reelection for President. We don’t yet know who will replace him, but we know Biden’s tenure in office will soon end. Now is the perfect time to talk about Biden’s legacy as America’s 46th […]
by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.3 Inversion Marx stated repeatedly in the Grundrisse that capital inverts the relationship between necessary and superfluous labour time. Capital both creates disposable time and expropriates it in the form of surplus value, reversing the nature-imposed priority of necessity […]
Morning . . . One other factor I believe you may have missed (too many factors). The 2017 Tax Cuts and Jobs Act did not pay for itself over the last 10 years. Just a small matter of it passing using Reconciliation which insists it pay for itself (being redundant here). The repeal of it […]
– by New Deal democrat Over the weekend Harvard econ professor Jason Furman suggested that the Fed funds rate is not very restrictive: “As inflation has come down the real Federal funds rate has risen and is now the most restrictive it has been this cycle, a point that Austin Goolsbee has emphasized a number of times […]
Kevin Drum pushes back on the WSJ claim that household debt is a problem in America, and Kevin brings the receipts: “. . . debt as a percent of disposable income . . . is currently lower than it was at the end of 2019 (9.8% vs. 10%). “. . . household debt as a […]
Progressives and social democrats should be fighting them tooth and nail, not blithely embracing them. by Steve Roth Originally Posted at Wealth Economics The spreadsheet behind the tables and graphs here is available on request. Drop me a line in the comments or elsewhere. Following the community of Socks (🧦s) or “social democrats” out there […]
by commenter Ten Bears Homeless on the High Desert It’s not about Kamala Harris. Kamala Harris was my only endorsement in 2020. Kamala Harris is the reason I set aside the three times Joe Biden’s politics have harmed me, harmed my family, harmed the Oregon Timber Industry … and voted for him. And will cast […]
Building Badly Needed Muti-Family Housing What is holding back more building of badly needed muti-family housing is the Fed Rate. The effort of course is to bring down inflation. As you read, I think you will discover the effort by the Fed is not achieving the goal it wishes to achieve. Indeed, its efforts to […]
– by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. While several of the monthly updates I’ve discussed here in the past week have tiptoed in the direction of yellow caution flags, that’s not apparent at all in the high frequency data that is updated every week, much of which comes from […]
Yesterday, I posted about geoengineering the oceans as a promising form of carbon capture. But why do we need carbon capture at all? Can’t we just conserve our way out of global warming? No. Here are a couple of reasons why the *only* way to avert climate disaster is to start removing carbon from the […]