Noni hasn’t written a macro-philosophical op-ed for Angry Bear in a few years. She adds a different touch to our macro. By Noni Mausa Endurance, Shovedown and Pancaking Over the past few years I have been trying to put a name to a dominant part of the human economy. Its defining nature […]
by Dale Coberly For some time now the Social Security Trustees have been reporting in the “media” using scare tactics like this: “Social Security Going Broke Sooner Than We Thought! Faces [fill in the blank] Trillion Dollar Deficit!” And I have tried to explain that what those numbers mean is that we need to raise […]
Yves smith writes: You must go, now, and read a critically important piece questioning the logic of sending American manufacturing jobs offshore. It’s titled Losing Sparta (hat tip Dikaios Logos) by Ester Kaplan in VQR. We have written regularly about how we have been repeatedly told by managers and executives that the case for offshoring […]
“… the fundamental law of capitalism must be: If workers have more money, businesses have more customers.” Nick Hanauer Keynes wrote that insufficient effective demand could “bring the increase of employment to a standstill before a level of full employment has been reached”. We may have this problem. So… What is effective demand? I base […]
Lance Roberts has a piece called Not Seeing Signs of Market Exuberance? Look Closer. He talks about the psychology of gamblers to expect winning even when the news is bad. He makes the connection to the stock market that traders keep pushing the market higher in spite of less-than-good news. He then makes the connection […]
In a piece yesterday called High Asset Prices, the Savings Glut, Secular Stagnation, and Unemployment, Dean Baker wrote… “The idea that the economy could be subject to an ongoing problem of inadequate demand used to be grounds for eviction from the realm of serious economists. But anyone who is willing to look at the evidence with […]
Via Demos comes this note on Our enormous retirment subsidies to the rich: …it behooves us to collectively recall just how much money the federal government is already devoting to subsidizing private retirement accounts. Those in policy circles tend to be aware of this stuff, but it largely escapes the glare of everyone else. Each […]
by Barkley Rosser at Econospeak The Wannabe Caliphate Openly Declares Itself So I earlier argued here that ISIS(ISIL) or DAEESH was not yet claiming itself to be a caliphate, and that its leader, Abu Bakr al-Baghdadi was only calling himself “al Hakim,” or “Ruling Emir,” even as I recognized that he had turned over this […]
Lifted from commnents in open thread in resonse to Tom Coburn’s comments on SSDI, by ilsm: Going after SSDI scalawags. The congress just added 4 more F-35 to the 2015 buy than Obama asked for. The F-35 is currently grounded because the engines tend to blow up and catch fire when […]