From the Roosevelt Institute comes this graphic on the overall reality of macro policies: The Republicans’ underlying assumption—that corporations invest more and create more jobs only when they are relieved of burdensome tax rates—is false. American businesses already enjoy a historically low cost of capital, and they have more than enough cash on hand to […]
by Barkley Rosser (originally published at Econospeak) Saint Janet Yellen: The Best Fed Chair Ever? OK, so the immediate reaction of many to this title might be to laugh, but I challenge anybody reading this to name another Fed Chair who was clearly better than she is. I do not think you can. However, one […]
A little Ella Fitzgerald for you today. Kind of fits with what is going on in the US today. Over at Vox, Matt Yglesias has an interesting article on the Trump Transition Team ordering government economists to cook up rosy economic forecasts. With his far reaching economic “it will be great” promises during the election, […]
by New Deal democrat The shallow industrial recession is fading in the rear view mirror A year ago the “shallow industrial recession” induced by the strong US$ and imploding oil patch was bottoming. At that time I described the historical pattern: Typically new orders turn positive first (red, left scale in the graph below), followed […]
C-Span just released a ranking of US Presidents based based on a survey of historians, journalists and other scholars. Obama came in 12th. Here is the survey’s description of the process used to generate the rankings: C-SPAN’s academic advisors devised a survey in which participants used a one (“not effective”) to ten (“very effective”) scale to rate […]
by New Deal democrat Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax At first blush yesterday’s negative industrial production print gives the lie to the proposition that the economy has left last year’s “shallow industrial recession” behind, as it looks to be going mainly sideways: But a closer examination shows that […]
by Sandwichman Recall and the General Strike The tradition of the oppressed teaches us that the “emergency situation” in which we live is the rule. — Walter Benjamin, On the Concept of History, 1940 Back in December, I posted Full Employment and the Myth of the General Strike to start the conversational ball rolling about […]
CNBC carries the whole deal:
by Peter Dorman (published originally at Econospeak) Why You Should Never Use a Supply and Demand Diagram for Labor Markets You would know this if you read your Cahuc, Carcillo and Zylberberg, but you probably won’t, so read this instead. A standard S&D diagram for the labor market might look like this: It’s common […]