– by New Deal democrat Sometimes there just isn’t much drama in economic numbers, and that was certainly the case for this month’s edition of existing home sales. As a mild refresher, even though they constitute about 90% of all housing sales, existing sales are not nearly so important as new home sales, since the latter […]

– by Steve Roth Originally posted at Wealth Economics If you think human well-being matters, yeah. If there’s one armchair economic truism that I give high credence to, it’s declining marginal utility. The first ice-cream cone you eat on a hot sunny day delivers a lot of utility. The second, significantly less so. (With ice-cream cones, you pretty […]

This is a much longer report than the three charts I am showing below. Charts 3, 5, and 8 get to the issues at hand. At least, I believe so. To me, I do not believe there is any politics involved in deciding whether healthcare is important. It is important and should be readily available […]

Democrats believe Trump’s Tariff Policies resulted in the loss of jobs in manufacturing. Democrats also estimate a reduction in manufacturing investment growth by an average of 13 percent per year. Joint Economic Committee – Minority Party. “Uncertainty From Trump’s Tariffs Derails U.S. Manufacturing in Both the Short and Long Term,” WASHINGTON – The Joint Economic […]

– by New Deal democrat Today I want to step back from the daily data and give you my Big Picture overview of the economy, particularly because Friday’s inflation report has materially changed an important component. To begin with, as I have been saying off and on for months, the economy has been essentially flat, and […]

EconoFact Weekend Reading: Guns vs. Butter Programs The phrase “Guns vs. Butter” is used to illustrate the choice a government must make between spending on the military and spending on social programs. President Trump’s recently released 2027 budget proposal tilts towards guns and away from butter. It calls for a 44 percent increase in defense spending, boosting it to $1.5 trillion, while reducing non-defense spending by 10%. […]

 – by New Deal democrat While inflation and interest rates took a whack at some of the data, most of the financial-related series (like the yield curve in the bond market and credit conditions) remain very positive. And consumer spending, likely by the uppermost income groups, actually posted one of its very best YoY comparisons in […]

– by New Deal democrat Jobless claims, along with stock market prices and upscale consumer spending (and recently, manufacturing orders) are one of the few important metrics holding up the economy. And the short summary of this morning’s data is: the new regime of very low claims continued. Initial claims did rise 16,000 to a still […]

A rewrite of a much shorter story about state and local funding and what Trump’s Beautiful Bill (or piece of garbage) does to states. Much of Trump’s cuts are meant to fund a new tax break for the upper 10% and 1% in income. Over ten years, The Big Beautiful Bill (BBB) will cut taxes for the […]

“Zetland’s Rule for Subsidies” The one-handed economist As you know, nothing exists until an academic puts their name on it. /s Thus, I reveal my creation — the ZRS! The government should only provide subsidies that anyone can access if they meet the eligibility criteria. Examples: The ZRS thus excludes subsidies to race, gender, religion, […]