by Tom aka Rusty Rustbelt Health Care Thoughts: Which Law to Violate? Citing a state notice statute, the Insurance Commissioner of California has convinced Blue Shield NOT to cancel policies which are not grandfathered under the ACA. The policies will be extended until March 31, giving hundreds of thousands of policy holders more time to […]
Total Security on Planet Elsinore: a Social Security Thought Game (Part 1) – Set the gameboard and initial rules for Total Security or TS for short. To recap the USE a democratic republic polity on Planet Elsinore has a long established government retirement security program called Total Security paid for by an across the income […]
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Paul Krugman mentions a “blockbuster” paper from the Fourteenth Jacques Polak Annual Research Conference. The paper is titled Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy. It was written by Dave Reifschneider, William L. Wascher and David Wilcox… all from the Federal Reserve Board. The paper states […]
Real GDP came out today. The number was $15,790 billion for the 3rd quarter 2013. Back in July, I posted an article that Real GDP had an appointment to keep with Effective Demand. I showed a series of graphs from the past of how real GDP grows up to the effective demand limit before a […]
Lets play a game. The ultimate point of the game is to understand certain aspects of Social Security but to keep complications from creeping in too early (wait for later parts) we are going to start with simple game play on a board far, far away. In fact on distant yet oddly Earth-like Planet Elsinore. […]
Via the ?Real News: Privitization of the Royal Mail Service Interview of John Weeks,( a professor emeritus of the University of London and author of the forthcoming book The Economics of the 1%: How Mainstream Economics Serves the Rich, Obscures Reality and Distorts Policy). Brings to mind this process: Grim outlook of US post office buildings: Currently, […]
Lifted from comments from Edward Lambert’s International flows Part 4 comes a reminder from Angry Bear Steve Roth: This is all part of the universal “saving/saving” confusion. See Nick’s post “Why ‘Saving’ Should be Abolished” http://worthwhile.typepad.com/worthwhile_canadian_initi/2012/01/why-saving-should-be-banned.html Key point, I think, been meaning to write a (another) post on this: “The economy” cannot “save” money. For […]
Dean Baker was polite in responding to another story from the Washington Post in the campaign to discredit the program: That’s what the headline of the front page Washington Post story might have read if the purpose was to inform readers. Instead the lengthy piece (which covers the whole back page) told readers that Social […]
I posted in the morning a graph of unit labor costs compared to inflation and labor share (% change over year). There was a key insight. If someone was to stop and think, the insight is actually important. Sometimes important ideas get lost in a post. So this post is to make sure it is […]