As the stock market moves sideways and house prices slow their march upward, 2014 is shaping up to be a less profitable year than 2013 for those with capital income. We saw consumption from capital income increase greatly over the last couple of years, but this year I expect it to stop rising and even […]
I’m stunned by how good the new Jacobin piece by Seth Ackerman is: “Piketty’s Fair-Weather Friends.” It gives what I find to be the best understanding so far of the whole Piketty “think space.” It’s so good that I can’t encapsulate it, so I’ll just share some of the passages I’m most taken with, with my […]
Click to embiggen. And then do some magnifying. Because even a selected file covering the whole 75 year projection period yields small type. Anyway this is my first take from Dale Coberly’s numbers for 2013 Northwest Plan with three calculated columns added by me. Those are the three with “Cost-Non Interest Income” as part or […]
The Federal Reserve Bank of St. Louis published an article that low nominal interest rates lead to low inflation… In essence they describe the Fisher effect about which I have been writing here on Angry Bear. There are many economists who do not accept the Fisher effect that low nominal interests lead to stable low […]
I am just beginning an attempt to tranform the Northwest Plan for a Real Social Security Fix into a series of Tables and Figures (and original spreadsheets) that people can review at length. But since the authors were effectively accused of not really having numbers at all here is an advanced peek at some of […]
[Michigan Republican Senate candidate Terri Lynn] Land, a Byron Center Republican, had defended presidential candidate Mitt Romney’s anti-bailout position two years ago and noted that GM had become known as “Government Motors.” She declined to revisit the topic Wednesday during a brief exchange with reporters, which she cut short following the forum. “I’ve always supported […]
Via Economist’s View comes this note on ‘Unemployment Insurance and Disability Insurance in the Great Recession’ From the NBER Digest: The authors find very little interaction between UI benefit eligibility and SSDI applications, and conclude that SSDI applications do not appear to respond to UI exhaustion. While the authors cannot rule out small effects, they conclude […]
AMERICAN INEQUALITY WITH SENATOR ELIZABETH WARREN and ECONOMIST THOMAS PIKETTY Boston, MA: This Saturday, The Patriotic Millionaires for Fiscal Strength will sponsor a landmark dialogue between Sen. Elizabeth Warren (D-MA) and economist Thomas Piketty. Senator Warren is one of progressivism’s most admired and powerful leaders and–despite her “I’m not running” assertions–a top presidential pick for many […]
It has been the political right’s mantra of welfare and charity being best done by private organizations rather than be government sponsored. 50 years have passed since President Johnson declared war on poverty. It was declared an abject failure by the right as it did not make people independent nor did it make people want […]