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

Now I understand why Representatives can’t control their crazy impulses

Dan here….Lifted from Robert’s Stochastic Thoughts: Robert Waldmann says: Now I understand why Representatives can’t control their crazy impulses Calling Kevin Drum A House office’s water supply has been tainted by high lead levels and may be unsafe, according to a warning blasted out to congressional offices Tuesday night. via Steve Benen (of course) So […]

Phil Ebersole: Monopoly power and what to do about it

Blogger Phil Ebersole writes today in a post titled “Monopoly power and what to do about it” (all boldface in original): The trouble with the U.S. economy is monopoly power. Concentrated business power means less consumer choice, less opportunity for entrepreneurs and greater concentration of wealth. Senator Elizabeth Warren Senator Elizabeth Warren described the problem very […]

How "the Ultimatum Game" explains the Populist backlash to Globalism

by New Deal democrat How “the Ultimatum Game” explains the Populist backlash to Globalism All over the developed world there has been an erupting surge of both left-wing (Sanders, Corbyn, Syriza in Greece, Podemos in Spain) and right-wing (Trump, UKIP, France’s LePen) populism.  The global elites recoil in horror.  According to most tellings of mainstream […]

“Why Are Voters Ignoring Experts?”

That is the question Jean Pisani-Ferry asks at Project Syndicate. In the wake of the Brexit vote there is a veritable chorus of experts and economists asking the same question. One explanation I don’t expect to see very often is that the supposed experts systematically ignore their own critical literature. Hubris. Professor Pisani-Ferry inadvertently presents an […]

ANTITRUSSSTTT! (Bernie Sanders did SO talk about antitrust during his campaign. A LOT. But thank you, Elizabeth Warren, for picking up that mantle now.)

A detailed update follows the original post. ____ Is the window closing on Bernie Sanders’s moment? A number of folks, your humble blogger included, have suggested as much. We’ve argued that with Democrats seeming to unite behind Hillary Clinton, it’s possible that the longer Sanders withholds his endorsement for her in the quest to make […]

SOCIAL SECURITY TRUSTEES REPORT

by Dale Coberly SOCIAL SECURITY TRUSTEES REPORT An Overview of the Overview The 2016 Trustees Report  didn’t have much new to say, so the usual commentators were free to say what they have always said, which is mostly wrong. A careful reading of just the Overview (p 2 to 25 of the Report) will help […]

Clinton’s figured out how to ensure her victory: Threaten Sanders that if he doesn’t endorse her, pronto, she’ll begin campaigning as a triangulator.

The risk is that [Sanders] will lose his moment because some Clinton partisans already see a more centrist campaign as the best way to win over millions of middle-of-the-road voters who find Trump abhorrent. Sanders has to decide if accelerating his plans to endorse Clinton is now the best way to maximize progressive influence. — […]