Or: It’s The Velocity, Stupid.I got quite a bit of blowback on my recent post suggesting that economists don’t understand accounting. In response I give you Exhibit A: the almost-ubiquitous notion that more saving increases the supply of “loanable funds” — hence that more saving causes or at least allows more investment. (The absolute classic […]
Let’s ignore that three of his four wins (including two last night) have come in non-binding caucuses and take a quick look at The Size of the Santorum Surge. Over at Skippy, Our Leader posted a link to a discussion of whether “Romney’s strengths” could beat Obama. I wisecracked, without looking at the data, that […]
by Dale Coberly LES MISERABLES: SOCIAL SECURITYJavert And Evil From a message from the National Consumer Law Center (reference [email protected]): “It’s perfectly fine for a person who failed to pay their child support to end up penniless and living in their car, and to die that way.” – High Ranking U.S. Treasury Official, in response […]
Mish at Global Economic Analysis says it loud and clear as well as Mike Kimel and Ken Houghton here at Angry Bear: I will stick with what I have said on many occasions “People are dropping out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low.” The reason is […]
Rick Hasen at Election Law Blog instructs us on super pacs and 501c4s: These days, I probably spend more time speaking to reporters (from as far away as Brazil and Italy) about Super PACs than about any other election law subject. There is a lot of misinformation floating out there about what Super PACs are, […]
By Noni Mausa Double Double — The Absolute Simplest Look at Wages and Pensions One of the best loved Canadian drinks is the famed Double-Double, a big coffee with two creams and two sugars from the Tim Horton’s coffee shop chain. Millions of double-doubles warm grateful workers hands and wake up their brains on the […]
by Rebecca Wilder I Still Don’t Get Why the ECB Hiked Rates I still don’t get why the ECB hiked rates in April and July of 2011. I questioned this using bond market pricing back in August 2011. Now I question it once more using the ex post trajectory of mortgage rates. Across the Euro […]
The President of the Federal Reserve Bank of Philadelphia: We have been putting out credit in a period of depression, when it is not wanted and could not be used, and will have to withdraw credit when it is wanted and can be used. But this is not Charles I. Plosser, no matter how similar […]
We’ve already seen in previous installments of this series that since about 1980, I: corporate profits have soared, II: the slice of profits going to finance has soared even more, and III: wages have stagnated. Here we see what corporations have done with all that money. There is a limited selection set: pay taxes, distribute […]
by Rebecca Wilder Temporary Employment: A New Ugly Rearing its Head in Europe? Last week Clive Crook opined on some fallacies of labor reform, specifically related to the unions and through the Spanish experience. Labor reform is a highly contentious subject, given its close ties to welfare and politics. Based on Clive Crook’s article, I […]