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

Goebbels or Gompers Addendum

In my original post, I didn’t say much about the overt racist expression in Gomper and the A. F. of L.’s  advocacy for Chinese exclusion. I guess that is because I read the stuff voluminously a couple of decades ago and it by now it just seemed to me it was common knowledge. Of course […]

Further comments about the state of the housing market

Further comments about the state of the housing market Here are some additional salient comments about the housing market right now. 1. Existing home sales are completely stagnant Not only did existing home sales fall for the month, not only are they down slightly YoY, but they are now less than 2% higher than where […]

Goebbels or Gompers?: A Closer Look at Stephen Miller’s Immigration Manifesto

Stephen Miller, architect of the Trump administration’s immigration policy is getting a lot of bad press these days. Some wags (and even relatives?) juxtapose Miller’s photo to one of Nazi propagandist Joseph Goebbels, insinuating likeness of facial expression is a predictor of ideological leaning and propaganda technique. The comparison is as unhelpful as it is […]

Preponderance of evidence from poor housing permits points to slowdown in GDP

Preponderance of evidence from poor housing permits points to slowdown in GDP The preponderance of evidence, based on this morning’s report on housing permits and starts, is that increased interest rates and continuing increased prices are beginning to take a bite out of the market. First of all, let’s take a look at single family […]

Time for some not very big data biotech

It appears that the US government has separated mothers and their children and doesn’t know how to get them back together again. In particular, this is extremely difficult if the children are under 2 and don’t know their family name (looking for someone identified only as “mommy” or “mia madre” is challenging. I think a […]

Prime age employment participation and wages: not so clear a relationship

Prime age employment participation and wages: not so clear a relationship In the last couple of months variations of the same graph which is supposed  to “solve” the wage conundrum have been going around. I saw another version this weekend: Easy to see, there is what looks like a nice, nearly linear relationship between the […]

What to Do about Conservative Rationality in Addressing Climate Change?

What to Do about Conservative Rationality in Addressing Climate Change? Two business-friendly conservatives, both former senators, Trent Lott and John Breaux, have an op-ed in today’s New York Times announcing the formation of new group, Americans for Carbon Dividends.  Now out of office, they recognize climate change as “one of the great challenges of our generation.”  To […]

War is Peace, Freedom is Slavery, Ignorance is Strength

A piece of work is Professor Walter E. Williams of George Mason University. Back in February, I flagged a column by Williams in which the nimble prof performed the lump-of-labor fallacy shuck and jive. One of the venues for that rendition of Will Automation Kill Our Jobs was David (“Trump is 100% right”) Horowitz’s FrontPage Mag. […]

The Lump That Begot Trump

I don’t want to pretend that this explains everything. But it is “another brick in the wall,” so to speak, if not the keystone. In January 2015, Senator Jeff Sessions produced an “Immigration Handbook for the New Republican Majority,” written by his communications director, Stephen Miller. Miller’s analysis in the handbook is just the sort […]