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

Catch of The Day: Tim Duy

Carpe diem, indeed: Mr Bernanke’s own appointment in 2005 was a case in point. There were several candidates that year. According to people involved, then-President George W. Bush leaned towards Martin Feldstein, a former economic adviser to Ronald Reagan…. But Mr Feldstein was a director of the insurance company AIG, which restated five years of […]

Poised for progress

This quote has a number of meaning perhaps.  Jay offers one in the form of a question…and more from Bill Black in an interview: The real news BARACK OBAMA, U.S. PRESIDENT: Thanks to the grit and determination of the American people, we’ve cleared away the rubble of the worst economic crisis in our lifetimes. So […]

Four easy fixes for corporate taxation

Everyone “knows” that the corporate income tax is a mess. Ask any company. They pay too much in corporate income tax, face rates higher than in any other OECD country, and are just following the law when they use tax havens to keep profits eternally deferred from taxation and to perform general sleight-of-hand.   Don’t […]

How Wall Street Stole Main Street

This graph speaks volumes: Profits as a Percent of GDP: Financial Corporations vs. Nonfinancial Corporations We saw a big decline in real businesses’ profit share in the 40s, then a slower semi-steady decline through the 70s, as wages constituted a larger share of GDP. Financial corps doubled, expanding and increasing profits, but they remained small […]

Edward Lambert on Effective Demand, Labor Share, Capacity Utilization, and Growth

He’s only been blogging since March. His credentials? “Independent Researcher on the equation for Effective Demand.” That may explain why, aside from a lonely Steve Randy Waldman link, I’ve seen no mention of his work out there. Just another internet econocrank? I’m wildly unqualified to pass judgment, but Lambert’s built what strikes me as a […]