Thursday , March 28 2024
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The Angry Bear

The economy is actually doing great — unless you want to make a change in your life.

Liking your present situation right now? Your job, your house, your car, you can keep it and you may have to do so. Buying a new car, house, or getting a different job may be more costly and not pay off. Even if you are not so satisfied, chances maybe you having to manage your pennies and stay put. Making a major economic change today involving costly upgrades, may not be advantageous, right now. Getting far out on a limb in a new job or with...

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More for Them, Less for Us, Talking Taxes and Deficits

Ran across am Americans for Tax Fairness article last night. Corporation tax dodging and executive pay has both is far out of control. A significant number of major U.S. corporations are paying their top executives more than they’re paying federal income taxes.  Matters have worsened with trump taking office in 2016 and the TCJA Making the Tax System, and the Tax Season More Burdensome. There is roughly a $2.1 trillion deficit resulting from this...

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Open Thread March 24 2024 Shorter Work Week – Is It All It Promises to Be?

A New Norm: Senators Bernie Sanders and Laphonza Butler presented an intriguing idea: making a shorter work week a national norm. The bill they introduced proposes changing the standard workweek with no loss in pay for certain groups of employees, including many hourly workers, from 40 to 32 hours, at which point overtime pay would kick in. Whether that change sounds quixotic depends on whom you ask. But as Sanders said in a statement: “Moving to...

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Where Does Wealth Come From?

Wrong answers only: “saving” Originally Published at Wealth Economics In my last post, I tried to say precisely what the words “wealth” and “assets” mean as they’re used in this blog. This post tackles the question of wealth accumulation. Where does wealth come from? What are the mechanisms that create assets? Households and the accounting-ownership pyramid I realize first, though, that I left out an important issue in the last post: what...

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2025 Medicare Advantage Advance Notice: Small Changes, Missed Opportunities

Pretty much a rewrite to provide simpler reading and a better understanding for readers. My rewrite did not make it much shorter. It is taken from a recent 2025 Health Affairs article. The main thrust of this article being commercial Medicare Advantage insurance companies taking advantage of government payments for healthcare to Medicare patients. The other part being CMS doing more to resolve the issues. MA Coding for patients is set the year before...

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Leading Indicators Continue To Improve

New Deal democrats Weekly Indicators for March 18 – 22 at Seeking Alpha  – by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your beliefs to...

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Right-wing attempts to impose Christian nationalism on the United States

History and some excellent up-to-date reporting by Prof. Heather cox Richardson I am sharing here as I subscribe to her Letters from an American. She explains the efforts of a few, a minority of political actors who are attempting to sway the opinions of Americans with their stilted dialogue promoting right-wing beliefs. It should be ignored. However it is . . . – Prof. Heather Cox Richardson Letters from an American In the past few weeks,...

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Signs of a thaw in the frozen existing homes market, but a very long way to go

 – by New Deal democrat There’s no big economic news today, but yesterday existing home sales were released. While they have historically constituted up to 90% of the entire market, they have much less economic impact than new home sales, which involve all sorts of construction activity, followed by landscaping, furnishings, and other sales. Since the Fed started raising rates two years ago, the two markets have gone in entirely different...

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The Lie Banks Use To Protect Late-Fee Profits

Hal Singer at Lever News wrote a commentary explaining how banks (mostly) are upset with the Consumer Financial Protection Bureau capping credit card late fees at $8. One would think this covers every bank. It does not and only covers banks with more than 1 million card holders. Any bank or organization with less customers can avoid the new rule. And of course there are other exceptions. The new rule takes effect sixty days after being posted in...

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Republican Budget Cuts Earned Benefits; Keeps Trump Tax Cuts

Angry Bears’ Social Security expert Dale Coberly emailed this to me about the same time it showed up in my inbox. Republicans again are trying to sell the public on the need to cut Social Security and Medicare Budgets for those over 65. Cutting them while keeping the Trump tax breaks which will result in a $2 trillion deficit by the time Reconciliation measures end in 2025. The cuts makes no sense as both programs are far more efficient and effect...

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