Relevant and even prescient commentary on news, politics and the economy.

“If things are good, then why do I still have nothing left over?”

Angry Bear: I have been bugging Daniel to write on occasion for Angry Bear. Daniel did write occasionally and his commentaries were good. I know it is a burden. Well, here is one of Daniel’s comments. A good one as usual . . . I believe the interest costs are part of the story as […]

Wage Passthrough to Pricing is Minimal and Abating

This commentary is along the lines of what I have been taught when I was consulting with Ingersoll Engineers in Rockford and which is now extinct. My background includes manufacturing planning at all levels domestically and internationally for US and foreign companies. Labor’s wages are a small part of the Cost of Manufacturing, etc. Spencer […]

How is the working-middle class doing? Real average non-supervisory wages

Real average hourly wages and real aggregate payrolls for October  – by New Deal democrat With yesterday’s report on October consumer prices, we can take up two of my favorite measures of how the working/middle class is doing – real average non-supervisory wages, and real aggregate payrolls. Real average wages for non-supervisory workers declined -0.1% […]

Two Stories on Cause and Effect

Cause and effect leaves little room for how people want the world to work.  Here are two stories illustrating that. From Bloomberg: A Swiss maker of hamburger buns for McDonald’s Corp. said it’s struggling to run a Chicago bakery after it lost a third of its workers in a clampdown on 800 immigrants without sufficient […]

Immigration, Democrats, Republicans and the NY Times

Tom Cotton, the junior United States Senator from Arkansas had a piece in the NY Times: President-elect Trump now has a clear mandate not only to stop illegal immigration, but also to finally cut the generation-long influx of low-skilled immigrants that undermines American workers. Yet many powerful industries benefit from such immigration. They’re arguing that […]

Trans Pacific Partnership Bad for the Middle Class, but How Bad? UPDATED

What you don’t know can hurt you. I think that’s a clear lesson of some so-called trade agreements the United States has signed over the last 20 years, and illustrated further by the few that have been defeated, most notably the Multilateral Agreement on Investment, negotiated by the Organization for Economic Cooperation and Development from1995 […]

Real wages decline; literally no one notices

Cross-posted from Middle Class Political Economist. Your read it here first: Real wages fell 0.2% in 2012, down from $295.49 (1982-84 dollars) to $294.83 per week, according to the 2013 Economic Report of the President. Thus, a 1.9% increase in nominal wages was  more than wiped out by inflation, marking the 40th consecutive year that […]