The wage – debt deflation dynamic and the next recession One of the important dynamics why recessions end is that inflation decelerates more than wage growth. Thus, for the 90% or so of people who still have jobs, there are some compelling bargains, enough to jumpstart more spending. That all gets short-circuited if wages actually […]
Via the International Monetary Fund: Income inequality among people around the world has been declining in recent decades. But the news is not all good. Inequality within many countries has increased, particularly in advanced economies. In addition to income inequality, wealth inequality—what you have accumulated, as opposed to what you earn—is closely related, and reflects differences in […]
The End Of The “Islamic State.” There are two aspects of this debate, one about the term, “Islamic State,” and the other about the its application. So, until about a month ago the entity calling itself ” al-Dawla al Islamiyya fi al-Iraq wa al Sham(s),” was claiming to be the most important Muslim political entity […]
Its been my observation that a surprising amount of research education sucks, either focusing on irrelevant trivia or desperately avoiding logic and common sense at all costs. Every so often, though, you come across something well written and cogent. Here are the first two paragraphs of an article that comes close: Racial-, ethnic-, and language-minority […]
This has become a total mess and I moved my algebra over to my personal blog. The point is that the whole discussion depends on the difference in the long term effect of a cut in a tax on capital income on revenue collected from old capital and the effect ofa cut in a tax […]
November Jobs Report: good month, same caveats HEADLINES: +228,000 jobs added U3 unemployment rate unchanged at 4.1% U6 underemployment rate rose +0.1% from 7.9% to 8.0% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now: rose +53,000 from 5.175 million […]
Lifted from comments Denis Drew points us to: Americans are drowning in debt. Here’s where they have it the worst. By Christopher Ingraham, December 8 at 1:58 PM https://www.washingtonpost.com/news/wonk/wp/2017/12/08/americans-are-drowning-in-debt-heres-where-they-have-it-the-worst/?utm_term=.45e91dd1c24f “Nationwide the data shows that 33 percent of Americans hold debt that is currently in collection. The median amount of debt in collections is $1,450.” “At […]
A Little History of the legislator who wrote the bill: Chair of the House Appropriations Committee since 2017, Rodney Frelinghuysen’s campaigns have been funded by the aerospace, defense, pharmaceutical and health care industries. On domestic issues, he opposes legalized abortion, Planned Parenthood, sanctuary cities, and federal regulation of greenhouse gas emissions. He endorsed Donald Trump […]