Relevant and even prescient commentary on news, politics and the economy.

The Employment Situation

   Although the July employment report was weaker than expected, it was still in line with recent experiences. The household survey reported employment gains of 204,000 while the payroll report showed a gain of 162,000 jobs. Average hourly earnings for all employees on private nonfarm payrolls edged down by 2 cents to $23.98, following a […]

Putting money in the hands of people without creating more debt

People need money. That is the purpose of the Fed’s loose monetary policy. But there is no transmission mechanism that gets money into the hands of people. Money is predominantly created in the economy through loans and credit from banks. Banks have to make loans or extend credit in order for people to have more […]

The People Lie Helpless, by Felix Santana Garcia

This is an article published yesterday by an acquaintance of mine who lives in the Dominican Republic, Felix Santana Garcia. He writes a weekly article for an online newspaper there. (I translated the article from Spanish.) The People Lie Helpless By FELIX SANTANA GARCIA * The author is a financial manager and university professor. Living […]

Obamacare and Employment

If you listen to CNBC or read right wing blogs you would think that the Obamacare regulations that require  large employers — over 50 full time equivalent employees –to provide their employees insurance or pay a penalty is leading to a massive shifting of employees from full time to part time.  CNBC is constantly interviewing […]

Magistrates Vs Politicians in Italy

This is likely to be a hot issue tomorrow. Today, Italy’s highest court of appeals is hearing Berlusconi’s appeal of his conviction for tax evasion and embezzling from his firm. As I wait for their decision, I write about the issue in general. Things are very different here East of the Channel. There is a […]

Inequality: Obama’s Speech, Detroit’s Bankruptcy, Taxes

by Linda Beale Inequality: Obama’s Speech, Detroit’s Bankruptcy, Taxes Was Obama’s speech on inequality really what Michael Lind claims in “The Day the Right Lost the Economic Argument” Salon.com (July 25, 2013)? The right, both here and internationally, has been pushing for austerity for most while those at the top reap unparalleled rewards from upward-moving […]

The trend in US corporate profits is what you think it is

by Rebecca Wilder The trend in US corporate profits is what you think it is In my research for an article about the cross section of national income, I ran across this piece in Forbes by Tim Worstall. In this article, he uses proprietary Bloomberg and WSJ data for 2012 corporate offshore cash holdings to assess […]