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

On the Malleability of Cultural Traits – a Look at Irish-British and German-Americans

Authored by Mike Kimel The way the immigration process was structured from 1921 to 1965, 70% of immigrants to the US came from Britain, Germany and Ireland.  In a recent post I noted that the proportion of great writers to scientists in Ireland tended to be a lot higher than for Britain and Germany.  I […]

JOLTS, Labor Market Conditions index consistent with late 2017 recession

by New Deal deomocrat JOLTS, Labor Market Conditions index consistent with late 2017 recession   I continue to be unimpressed with the Job Openings and Labor Turnover Survey (JOLTS), as showing post-mid cycle deceleration for over a year.   I have found what I hope is a better way to present my argument, so that you […]

Is the US at Full Employment?

This is a common question. It is important to know if an economy is at full employment. However, the question is wrong. or at least the way it is answered is wrong… Full employment is based on employment of labor. However, full employment must consider both labor and capital since they are both resources for […]

Stan Fischer has curve upside-down

Stan Fischer, vice-chairman of the Fed, gave a speech yesterday. (link) He said this… “As we noted in our statement, we continue to expect that the evolution of the economy will warrant some gradual increases in the federal funds rate over time to achieve and maintain our objectives. That assessment is based on our view […]

My Near-Out-of-Body Experience While Watching the Debate Last Night: Hearing Clinton’s Answer To the Supreme Court Nominees Question

OMG. It came so late in the debate—the third-last question, the second-last on policy agenda, less than 10 minutes before the end. Asked what she would be looking for in selecting her Supreme Court nominees, she began not with a culture-wars answer or by referencing the need for diversity among the justices as concerned with […]

ANTITRUSSSSST! (Dear Hillary: In a well-received economics-themed speech in Toledo on Monday, you mentioned ANTITRUST LAW and ARBITRATION CLAUSES. Please, please do so also at Sunday’s debate.)

Clinton also said she would push for new steps to crack down on “forced arbitration” fine print that prevents workers and consumers from suing companies, proposals aimed at reducing market concentration and increasing competition, and curbing tax rules that gave corporations and the super-wealthy, like Trump, tax breaks not available to ordinary taxpayers. — After […]

Kellyanne Conway Admits That Trump’s Domestic Policy Agenda Is Circa 1980s and Early-to-Mid-2000s.

That Is, the Very Opposite of a “Change Agenda.” Clinton Should Quote Her On That. “His last tweet last night was how excited he was, how proud of him he was. They talked last night. I talked to Mr. Trump during the debate several times,” [Kellyanne] Conway said of Trump’s response to Pence’s debate performance. “I think […]