Kudlow Menzie Chinn notes: Mr. Kudlow is apparently on the short list for new National Economic Committee chair. Maybe a good time to review some of his macro predictions. Yours truly goes back memory lane: But let’s turn back the clock to the first term of the Bush43 Administration when Kudlow writing for the National Review was […]
Labor force participation, unemployment, and wages: an update About a year ago I wrote a series of posts on the relationship between the unemployment rate, labor force participation, and wage growth. Especially in view of last Friday’s jobs report, which showed blockbuster hiring, but a continuation of tepid wage growth over 8 years into the […]
(Dan here…better late posted here than not…. ) by New Deal democrat February jobs report: a blowout! Except (sigh) for wages HEADLINES: +313,000 jobs added U3 unemployment rate unchanged at 4.1% U6 underemployment rate unchanged at 8.2% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor […]
I met Lynn while working with Alan Collinge of the Student Loan Justice Organization. She too has been working with Alan to call attention to the plight of students who took loans out to pay for college and the mishandling by servicers of them. The first story is of an older man who took out […]
Interest rates and jobs: a variation on the model Friday is nonfarm payrolls day, so in the absence more noteworthy economic news, let me follow up on Monday’s post in which I discussed “A simple model of interest rates and the jobs market.” In it, I suggested that: 1. a YoY increase in the Fed funds […]
The Final End Of The As-Is/Red Line Agreement In London yesterday visiting Saudi Crown Prince, Mohammed bin Salman (MbS) allowed the signing of a set of trade memoranda with various British companies, including buying Typhoon aircraft, and many other things, 18 such deals, although some sources say only 14, total value maybe about $90 billion, […]
It is unfair for me to pick on Paul Kane writing in the Washington Post, but he does seem to me to be a clear example of political reporters who interview operatives and quote them and do not look at relevant publicly available data. The main point of the article is that Republicans are in […]
Basil Moore dies I have just learned that prominent Post Keynesian economist, Basil Moore, died yesterday. I do not know of what or how old he was, although he retired over a decade ago. He is best known as the author of Horizontalists and Vericalists, in which he strongly argued for the endogeneity of money. In more recent […]
One third of the way to the 2020 Presidential election Today marks 16 months since the 2016 election, and 32 months before the one in 2020. We are one third of the way through. Barring a major industrial or nuclear war, we are going to make it. The only major legislative accomplishment so far is […]