Some other insights on the data in addition to Angry Bear Spencer England: Mixed Message on the Labor Front BLS released its Employment Situation Summary for July. The payroll survey showed an increase in employment of $163 thousand but that unemployment rate rose to 8.3%. So what was the deal from the household survey? Actually […]
Via Mark Thoma comes this study of the financial status of many Americans in the last part of their lives: Social Security works: Study: Many Americans die with ‘virtually no financial assets’, by Peter Dizikes, MIT News Office: It is a central worry of many Americans: not having enough money to live comfortably in old […]
PGL at Econospeak begins an analysis of the economists and economics of election promises of Romney’s economic ‘plan?’: Jon Ward reports that Glenn Hubbard, Greg Mankiw, and John Taylor joined with Kevin (DOW 36000) Hassett to produce white paper that should be fun reading for us of all: Mitt Romney’s campaign released a paper by […]
Euro Area Retail Sales Portend Negative Quarter of Real Consumption by Rebecca Wilder Today Eurostat released its June estimate of real retail sales for the Euro area. On a month/month basis, real retail sales increased at a rate of 0.1%. However, on a trended basis, the 3-month/3-month average growth rate was down 0.7% in the […]
I just suggested to the Romney campaign that they do an ad highlighting the sheer arrogance of Romney’s “Trust me, and I won’t let you verify” theme, on his personal finances and on the specifics of his “plan” (see my post from yesterday, below) and how, exactly, it could be expected to grow the economy […]
The headline number of a 163,000 increase in payroll employment –172,000 private and a -9,000 fall in government –appeared strong. But it was really just another .weak employment report. For example over the last twelve months private payroll employment gains have average some 163,000 so this months 172,000 increase was just barely above the 12 […]
by Dale CoberlySocial SecurityThe Fundamental TruthIf you don’t understand this, you don’t understand Social Security. If you do understand it, all the rest is minor technical detail… or utter nonsense. Social Security is not welfare. Social Security is not an investment plan. Social Security is insurance… to avoid welfare if your investment plan doesn’t work […]
by Linda Beale Corporations Don’t Need More Tax Breaks If you listen to the corporate lobbyists, and the right-wingers who plead their cases for them in Congress and in the media, you’d think that corporations are so heavily taxed that it is threatening their ability to continue to conduct business and be competitive in world […]
Romney released a new middle class economic plan [today]. [The] plan is called: “Mitt Romney’s new plan for a stronger middle class.” It contains ideas we’ve heard before: more access to domestic energy resources; cutting taxes and capping spending; repealing Obamacare. Mark Hopkins at Moody’s Analytics tells me that it is mostly a set of […]
by Kenneth Thomas It’s the Middle Class, Stupid! (Review) When I saw that James Carville and Stan Greenberg had just published It’s the Middle Class, Stupid! (Blue Rider Press), I knew that I would want to read it. I had always liked Carville’s We’re Right, They’re Wrong and wanted to know his take on approaching […]