The Angry Bear

From Wednesday postings: by New Deal democrat Holding Trump to account on manufacturing and mining jobs: setting the benchmarks Tomorrow is the April employment report, and at this point we can begin to hold Trump and the GOP Congress at least somewhat (but not fully for about 3-6 more months) accountable for the trend. For example, by this point 8 years ago, Obama and the Democratic Congress had passed the stimulus program, and the hemorrhaging of jobs,...

by Robert Waldmann Totally twitty Chait hate I admire Jonathan Chait. In particular, I admire his denunciation of those (e.g. Barack Obama) who criticize “some in my party” without naming names. His rule is that if one criticizes an argument, position or view, one should name and quote someone. Otherwise the temptation to debate straw men is irresistable. This fits Chait’s general (confessed) inclination to be mean — he doesn’t mind criticizing people by...

Via the NYT comes this major dilemma as a next step in the “money is speech” campaign: The head of President Trump’s re-election campaign accused CNN of “censorship” on Tuesday afternoon after the broadcast network refused to run the group’s latest advertisement. CNN said it would run the 30-second television spot, a celebration of Mr. Trump’s first 100 days in office, only if the campaign removed a section that featured the words “fake news” superimposed...

Larry Summers on Treasury Secretary Mnuchin (via WP), to put it mildly: Last week I suggested that I felt sorry for Treasury Secretary Steven Mnuchin. He found himself forced by circumstance and his president to say and do things that undermined his and Treasury’s credibility. I wish there was an external force that could be blamed for the secretary’s comments on Monday, but they look from the outside like unforced errors. At Michael Milken’s annual...

Lifted from comments by Dale Coberly… This year’s Social Security Trustees Report seems to be late as usual. But this is the LAST year that a gradual increase in the payroll tax can begin and still solve some of the less understood problems of the projected shortfall in SS funding: This is mostly that a gradual increase starting now preserves the Trust Fund at it’s current level… meaning the Congress doesn’t have to find the money to pay back it’s debt TO...

by Peter Dorman   (originally published at Econospeak) Climate of Complete Incomprehension I finally got around to reading the NY Times new “responsible conservative”, Bret Stephens’, call for skepticism and moderation on climate change.  He adopts an attitude that exudes reasonableness and rejection of hubris.  Complicated modeling is an uncertain business and often fails; just look at Hilary Clinton’s Big Data campaign gurus.  Climate change is such a...

This isn’t actually news, but it’s news to me, and it’s something you need to know. Greg LeRoy sent me an article by James Meek in London Review of Books (20 April 2017) that he’d been sent by a friend, documenting more EU-permitted job piracy by Poland that preceded the case I discuss at length in my book, Investment Incentives and the Global Competition for Capital. There, I criticized the European Commission’s Directorate-General for Competition for...

Bryce Covert and Josh Israel report Last year, 11,717 low-income residents of Mississippi applied to get a meager government benefit to help them make ends meet. The state’s welfare program, part of federal Temporary Assistance for Needy Families (TANF), gives a maximum of just $170 a month to a family of three. These applicants had applied hoping to get at least that crumb of cash assistance. But out of the pool—more than 11 thousand—only 167 people were...