Paul Krugman finds intuition for the calculations of Jennifer Gravelle difficult. Now even more than usually, you really have to click this link to know what I am typing about. My comment. yes that intuition is difficult. I have an attempt. So 1% of GDP is tradable. Also consumption and total production fixed. Mars cuts […]
Barzani Out, Puigdemont In Belgium It seems that the two recent independence referenda have largely collapsed. One was in Iraqi Kurdistan, with President Massound Barzani having it done with the eye that it would give him leverage in negotiations with the Iraqi central government. That did not work, with the referendum triggering the central government […]
This is just a conversation between two people of a similar age, looking at what happened, and what changed. Worthy of posting. esmensetoo: There are women who fear a loss of privilege and an increase in expectations, and economic responsibility, for women from “feminist” striving. “If she can do that maybe I’ll be asked and […]
Halloween potpouri Some comments on the economic data from yesterday and this morning… 1. Personal income and spending. Real, inflation adjusted income was flat, while real spending was up +0.6%. Which means the personal saving rate declined to a new expansion low: We’ve had a steep decline in the savings rate in the past year. […]
From a story in Daily Mail: Terror suspects including jihadis returning from fighting in Syria are to be offered taxpayer-funded homes, counselling and help finding jobs to stop them carrying out attacks in Britain. The top-secret Government strategy, codenamed Operation Constrain, could even allow fanatics to jump to the top of council house waiting lists. […]
A NAWRU proposal Marco Fioramanti and I have strongly criticized the European Commission DG EcFin Output Gap working Group estimates of output gaps. I have also written a lot here at angrybearblog This topic is very important, because the output gaps are used to calculate cyclically corrected budget balances which are regulated by the Stability […]
Gimme shelter: the real cost of renting vs. homeownership What is the real cost of shelter? Over the last decade there has been lots of discussion of housing prices in isolation. Sometimes that discussion includes an inflation adjustment — which is problematic, since housing constitutes nearly 40% of the entire consumer price index, so in […]
I have been getting quite a few alerts on proposed changes happening behind the scenes with the ACA. I also found a couple of new places with some intelligent writers who have explained things in greater depth than what I knew. The CMS is proposing a rule allowing states greater authority in defining the ACA. […]
Everything Is Going Great, So Let’s Change It Well, the actual headline on the front page of the Washington Post below the fold today reads, “Economy shows strong growth, could provide GOP momentum.” The strong growth is the 3.0% annual growth rate of GDP in the third quarter (supported by a strong stock market), with […]