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

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 […]

If I were writing that piece

Here is an interesting way to deal numbers, with the complete post to be read from the link: Obama taxes us into recession  (Mish’s musings) Withheld income and employment taxes have been running about 8.3% higher year over year, comparing the same 33 business days between Tuesday, January 8 and Monday, February 25.…Regardless, there is […]

Wages driven down, now relative to market you’re over paid!

Update: spelling corrected in title. I heard and then went to look see that Caterpillar is working hard to control it’s costs. “Despite earning a record $4.9 billion profit last year and projecting even better results for 2012, the company is insisting on a six-year wage freeze and a pension freeze for most of the […]

Double Double — The Absolute Simplest Look at Wages and Pensions

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 […]