This is another look at the idea I put forth here, that – contra the standard economic idea that consumption depends on wealth – I believe that consumption depends on…

Part I showed the money going to corporate profits, not to the salaries of working people. Part II showed that the finance sector has captured an increasing slice of the…

In this post, earlier today, I forgot to link to this article over at Naked Capitalism. The salient point is, that specifically for investors, spending is related exclusively to income,…

Usually my articles present facts and data and try to drive down to a conclusion. This time, I’m going to drive down to a couple of questions. Recently, Noah Smith…

In Part I we saw that labor’s earnings have lagged far behind GDP growth. (More on earnings stagnation here) Meanwhile, corporate profits have grown at a rate that, until recently,…

INTRODUCTION 1) Rethug Speaker of the House John Boehner says that as a nation, “we’re broke“; Rethug presidential candidate Ron Paul claims America “should declare bankruptcy.” I say these two…

This is just a short post to illustrate the magnitude of GDP revisions. I downloaded quarterly GDP data from BEA in June 2011. I went back to BEA this morning…

Matt Stoller, the former Senior Policy Advisor to Rep. Alan Grayson and a fellow at the Roosevelt Institute has a couple of very interesting articles posted at Naked Capitalism, Why…

In the previous post, I suggested that speculation is driving oil prices higher than they should be. In this follow-up, I think I can show that oil prices are not…

Last Spring, some Democrats and liberals (Ed Schultz and Bernie Sanders spring readily to mind) who have somehow resisted the enlightenment of unfettered free markets suggested that high oil prices…