I was born into an America where the eight-hour workday was widely observed. But what was for me just another fact of life was a hard-won right of the labor movement that cost hundreds of lives. “Death in the Haymarket: A Story of Chicago, the First Labor Movement and the Bombing that Divided Gilded Age […]
by Lloyd Alter Carbon Upfront! The size an style of these vehicles will not make you embrace them as an alternative form of transportation. The concept is solid though. The savings to be achieved is realistic. The impact on our environment would be enormous. It is about time America abandons the too big, too fast, […]
The inverted Treasury yield curve: we are in uncharted territory – by New Deal democrat We passed a significant anniversary last week: the spread for the 10-year minus 2-year Treasury has been inverted for over 2 years (blue in the graph below). The 2-year minus 3-month Treasury spread has also been inverted for 20 months […]
Just Released: New Data on Record Credit Card Debt & Interest Rates – WalletHub, Diana Polk WalletHub analyzed Federal Reserve data released today and found that credit card debt hit a new record high of $1.27 trillion in May 2024, which is 4% higher than last year after adjusting for inflation. With the average credit card APR now even […]
Except as Alabama Democrat Representative Terri Sewell pointed out, Tommy Tuberville voted against the bill ($550. million) that provided the money. President Joe Biden’s Department of Transportation allocated the funding. If trump Wins the Election . . . July 12, 2024 by Prof. Heather Cox Richardson Letters from an American AB: Politicians are too busy […]
It is no secret. The Tax Cut and Jobs Act (TCJA) of 2017 was skewed to the rich, expensive, and failed to deliver economic benefits. As Americans for Tax Fairness writes, the TCJA benefited billionaires greatly doubling their cumulative wealth. A different take being those making less than $114,000 in 2016 saw “no change in […]
Kevin Drum has a post up at jabberwocking.com about a claim by the chair of the Alabama GOP that democracies lead to socialism. I can’t think of a single example of a socialist country that evolved from democracy to socialism. Russia became socialist when the Bolsheviks overthrew the Kerensky government by violent revolution. Socialism throughout […]
Real average nonsupervisory wages near, real aggregate nonsupervisory payrolls at, all-time highs – by New Deal democrat Now that we have the CPI reading for June, we can calculate how average wage earners are doing in “real” terms. First, real average hourly nonsupervisory wages increased 0.4% for the second straight month. On a YoY basis, […]
by Tom Walker Econcospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.5 Pauperism and “minus-labour” “It is already contained in the concept of the free labourer, that he is a pauper…“ Pauperism and surplus population play brief but strategic roles in the Grundrisse, appearing in the three fragments on […]
– by New Deal democrat Consumer prices in June failed to show any inflation at all for the second month in a row, as they declined -0.1% following an unchanged reading in May. On a YoY basis inflation decelerated -0.3% to 3.0% (technically 2.98% if you go out one further decimal point), the lowest YoY […]