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

Goats and Dogs, Eco-Fascism and Liberal Taboos

When remembered at all, Edward Abbey is mostly thought of as an environmentalist and anarchist but there is no gainsaying the racism and xenophobia on display in his 1983 essay, “Immigration and Liberal Taboos.” The opinion piece was originally solicited by the New York Times, which ultimately declined to publish it — or to pay […]

House’s SECURE Act and the Senate’s RESA Act

Congress has been busily working on a much-needed way to improve Middle Class savings and growth over the span of their employment to boost their retirement. Dueling bills to restructure IRAs and 401ks appear to be redundant. Better known as the “Setting Every Community Up for Retirement Act” (SECURE Act) H.R.1994 and the Senate has […]

Housing and Young People

We’ve lost the plot on the classic life arc of yesteryear. Places where real estate is cheap don’t have many good jobs. Places with lots of jobs, primarily coastal cities, have seen their real-estate markets go absolutely haywire. The most recent evidence of this remarkable change comes in a new report by the real-estate firm […]

Initial claims, temporary staffing point to weaker May jobs report

Initial claims, temporary staffing point to weaker May jobs report  – by New Deal democrat As I’ve noted a few times recently, I’m paying additional attention to the weekly jobless claims numbers, partly because I suspected that the late Easter this year resulted in some residual seasonality (which I think has been demonstrated), and partly […]

Reposted from Jan. 2018: Social Security and conversation

(Dan here…Social Security is an issue that seems to generate a lot of firm beliefs and passion, as witness recent threads.  It is rare that people refer to actuary material.  On the other sides of the issue are people like Andrew Biggs, who is knowledgeable and smart in his arguments.  I am posting this as […]

Wage Growth

Based on my wage equation, last January I warned to expect a sharp acceleration in wage growth in 2018.  Now that wage growth has risen       from 2.4% in 2017 to 3.4% in 2018, the same economic variables imply that wage growth may be flattening out.  If wage growth remains near    current […]