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

Rational Optimism?

by Peter Dorman (originally published at Econospeak) “Rational” Optimism? I just finished this long, rather convoluted meditation on “rational optimism”.  Must we admit the world is getting better, getting better all the time? Really, there are two types of multidimensionality that need to be considered.  The first is that “better” is, if it’s anything, vector […]

In which I (partially) disagree with Dean Baker about the stock market

In which I (partially) disagree with Dean Baker about the stock market Dean Baker complained yesterday about pundits who talk about the stock market in terms of economic well-being: As someone who routinely considers both corporate profits and stock prices in terms of economic well-being, I disagree — somewhat.

On JOLTS, I continue to dissent

On JOLTS, I continue to dissent The only two significant items of data in the second week of the month typically had been the JOLTS report and the Labor Market Conditions Index. I say, “had been” because the Fed has discontinued reporting the LMCI.  Here’s their explanation: Although the LMCI was reconstructed back 50 years, […]

The Financial Crisis Tenth Anniversary

(Dan here…posted a day later) The Financial Crisis Tenth Anniversary Yesterday, August 9, is being widely proclaimed as the tenth anniversary of the beginning of the financial crisis that fully crashed in September, 2008, with the recession that began at the end of 2007 plunging more profoundly and widely after that.  The specific event on […]

July jobs report: across the board solid

July jobs report: across the board solid HEADLINES: +209,000 jobs added U3 unemployment rate down -0.1% from 4.4% to 4.3% U6 underemployment rate unchanged 8.6% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now: down -11,000 from 5.431 million to […]

Apartment vacancy rate improves, but “rental affordability crisis” at worst level ever

Apartment vacancy rate improves, but “rental affordability crisis” at worst level ever Over three years ago HUD warned of “the worst rental affordability crisis ever,” citing statistics that About half of renters spend more than 30 percent of their income on rent, up from 18 percent a decade ago, according to newly released research by […]

The Masters Always Deal Themselves the Trumps

More Feargus O’Connor (1844) on labour’s objections to machinery: And now, sir, let me state my principal objections to the unrestricted use of machinery. First, it places man in an artificial state, over which the best workman, the wisest man and most moral person, has no control. Secondly, while it leads to the almost certain […]

Wisconsin Buys Foxconn Facility for Kenosha

I picked up this version 4 BS lies of Trump and Scott Walker’s Imaginary Foxconn Factory on Tom Bozzo’s facebook page where I stopped to see what he had to say as of late. While it is a great attention grabber, a link caught my eye in Wonkette’s article leading to this America and the […]