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

Dean Baker on Social Security and Obama

Via Truthout Dean Baker points to continuing insistent of President Obama to keep Social Security ‘on the table’. Dean Baker has a take on some numbers surrounding the politics and stories politicans offer: While most of the DC insiders probably don’t understand the chained CPI, everyone else should recognize that this technical fix amounts to […]

Paul Krugman changes his mind on impacts of automation

In the past discussions at Angry Bear on the impacts automation might have on our lives, and the economics   involved,  gathered comments such as “You are a neo luddite”. As if widespread use of automated systems was automatically good for us overall because we would have access to ‘more higher wage and higher skilled […]

Romney Bain and GS Technologies

Andrew Sullivan writes something interesting.* No not that Andrew Sullivan, this Andrew Sullivan at Reuters. Fairly excerpted, I think. in October 1993, Bain Capital, co-founded by Mitt Romney, became majority shareholder in a steel mill that had been operating since 1888. It was a gamble. The old mill, renamed GS Technologies, [skip] a federal government […]

A reminder from Obama’s February 2009 speech

By: Daniel Becker In answer to the generic question regarding President Obama’s actions regarding the debt ceiling, I am re-posting this from 2/25/09.  In comments of the original I stated that cutting the deficit by 1/2 seemed to “optimistic” for me. *************************** Ok, here are my basic issues with the substance of President Obama’s speech. […]

A Billion Here, A Billion There…

This is why Andrew Leonard (h/t Yves Smith) gets paid for blogging and I don’t. He tries to do the impossible: make sense out of Michelle Bachmann’s “economics“: 1) The interest can easily be paid for … Bachmann is making the argument here that the U.S. can choose to pay its creditors — the various […]

Deficit Hawks Down: The Misconstrued “Facts” Behind Their Hype

Reposted from New Deal 2.0 with permission from author. Deficit Hawks Down: The Misconstrued “Facts” Behind Their Hype by James K. Galbraith Economist James K. Galbraith attends a Pete Peterson-funded road show. The Fiscal Solutions Tour is the latest Peter G. Peterson Foundation effort to rouse the public against deficits and the national debt — […]

The Messenger Again Wears A Skirt

op-ed by Run “The Messenger Again Wears A Skirt (Mama Tucker on Brooksley Born)” Taking a page from his former boss and mentor Larry Summers, Geithner behind closed doors has expressed opposition to Dr. Elizabeth Warren heading up the Consumer Financial Protection Bureau as reported by The Huffington Post. For those of you who may […]

Inflation Detour: Trimmed Mean PCE

Today’s release by the Federal Reserve Bank of Dallas of October’s Trimmed Mean Personal Consumption Expenditure gives us a chance to check this “alternative measure of core inflation.” The clearest thing is that it does what the FRB Dallas intends: generally reduces the measure of inflation: For the graphic above, any value above the line […]