See update at bottom. Pavlina Tcherneva’s chart has been getting a lot of play out there: Vox/Matthew Yglesias labeled it “The most important chart about the American economy you’ll see this year.” Scott Winship at Fortune came back at it on methodological grounds, with the headline “No, the Rich Are Not Taking All of the Economic Pie (In […]
Barack Obama wanted to galvanize Democrats when he insisted this week that his economic policies are on the ballot in November. Instead, the soundbite has already become the centerpiece of new Republican attack ads. Kentucky Sen. Mitch McConnell uses the clip in a new commercial, shared first with POLITICO. Kansas Sen. Pat Roberts turned his own […]
by New Deal democrat (re-posted from Bonddad blog with permission from the author) The unemployment rate as a leading indicator for wage growth One of the most pronounced issues in the US economy generally is the stagnation of wages since the turn of the Millennium, and specifically the […]
Yves Smith last year October 2013 pointed to the law suit by Carmen Segarra: On Thursday, a former bank examiner at the Federal Reserve Bank of New York, Carmen Segarra, filed a suit (embedded at the end of this post) against the New York Fed and several of its employees alleging, among other things, improper […]
Via @BlogWood, I learned that Boeing is going to move 2000 skilled jobs away from Washington state, despite just receiving $8.7 billion (with a B) in subsidies for the years 2025-2040. Really, I’m speechless. “Chutzpah” is one of the more printable words I can think of to describe this. You will recall that the state’s […]
Best as I can tell, the concept of “nationalizing” this election has been used exclusively to mean that the Republicans want to make this election all about Obama, Obamacare, and such. Therefore, if the election is “nationalized,” the Repubs win, right? In a post here at AB two weeks ago, I listed some of the […]
The Financial Times reported on September 30th that the European Commission has decided to open a formal investigation into whether Apple received illegal subsidies (“state aid,” in EU-speak) from Ireland going as far back as 1991. The FT quotes “people involved in the case” as saying that this can cost Apple billions of euros. What […]
¯\_(ツ)_/¯ Back in April, I wrote that the Dow Jones would rise to 16,800 and then revolve around that point and then eventually come down from there. “My view now is that the Dow Jones will make a publicity effort with hopes to get back up to 16800, then come down from there.” (link) I […]
I’m reprising a previous (and longer) post here in hopefully simplified and clarified form, for a discussion I’m in the midst of. “Saving” and “Savings” seem like simple concepts, but they’re not. They have many different meanings, and writers’ different usages and definitions (often implicit or even unconscious) make coherent understanding and discussion impossible — even, often, […]
Banks are obviously different from households. But I think explaining two key differences goes far towards explaining why “endogenous money” theory — often pooh poohed as either confused or obvious — is important to economic thinking. The first is a dweeby accounting difference. The other, which arises from that, is very, very real. 1. When the […]