Ever since Reagan and Thatcher first tried them, trickle-down policies have exploded budget deficits and widened inequality. At best, they’ve temporarily increased consumer demand (the opposite of what’s needed during high inflation that Britain and much of the world are experiencing). Reagan’s tax cuts and deregulation at the start of the 1980s were not responsible […]
by Dean Baker Commerce Department reported that GDP grew at a 1.6 percent annual rate in the first quarter, some-what lower than had generally been predicted. However, the headline number was held down by slow inventory accumulation, which subtracted 0.35 percentage points from growth, and a big rise in the trade deficit, which lowered growth […]
– by New Deal democrat The snooze-a-thon in jobless claims continues, as both initial and continuing claims are well-behaved within the narrow range where they have been generally for the past six months. Initial claims were unchanged least week at 208,000, while the four week moving average declilned -3,500 to 210,00. With the usual one […]
I first caught up with this article on MedPage Today, “Doc Blows Whistle on Cigna.” I also read the ProPublic report. Both are reporting on denial of claims before and after treatment and the productivity of claims reviewers. Additionally, the report discusses the use of labor (nurses, etc.) outside of the US to evaluate claims […]
by Steve Roth Wealth Economics This picture from the Center for American Progress, and variations, have been making the rounds on the interwebs lately, eg here, here, and here. The headline is that younger households got 49% richer during/since Covid, in inflation-adjusted “real” terms. But some drill-down is in order here. What actually happened? Start with background. Here are the nominal […]
– by New Deal democrat After almost half a year of general stabilization, or very slow deceleration, the JOLTS report for March featured multi-year lows in almost all of its components. Job openings (blue in the graph below), a soft statistic that is polluted by imaginary, permanent, and trolling listings, declined -325,000 to a three year […]
by New Deal democrat The Bonddad Blog A preliminary programming note: In addition to the manufacturing and construction reports, today we also get the JOLTS report for March, and updated motor vehicle sales reports. Yesterday we also got the Employment Cost Index for Q1. I will comment on the JOLTS report later today. I’ll comment on […]
– by New Deal democrat The Bonddad Blog Our final housing statistics of the month are the FHFA and Case Shiller repeat sales indexes. As usual, keep in mind that mortgage rates lead home sales, which in turn lead prices. Which, in turn, lead the official CPI measure of shelter by a year or more. […]
By Les Leopold Chelsea Green Publishing Interesting book I just started to touch upon. Book review by Paul Prescod. Last section touches upon why layoffs may happen . . . Stock Buybacks and Deregulation. Across the political spectrum, it seems as if the right to decent employment has disappeared from the agenda. Wars, natural disasters, […]
– by New Deal democrat The Bonddad Blog About 10 years ago, I went looking for what I called “mid cycle indicators.” In other words, I wanted to go beyond leading or lagging indicators to find at least a few that tend to peak somewhere near the middle of an expansion. That synapse was jangled […]