Saturday , October 1 2022
Home / Tag Archives: Taxes/regulation

Tag Archives: Taxes/regulation

Distibution and Total Growth of Family Wealth

This popped up on “Letters from an American” just last night. I was too tired to read Prof. Heather Cox-Richardson’s article. So, I missed out on a good message about the income of America’s population. This is a recent commentary by the not-so nonpartisan Congressional Budget Office in September 2022. The thrust of the article? “Trends in the Distribution of Family Wealth, 1989 to 2019.” Prof. Heather Cox-Richardson’s Introduction; Since...

Read More »

Loss of Truss

I really have to write about macroeconomics given the drama across the Channel in the UK. The story so far is that New Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng have managed to spook money managers by threatening to cut their taxes . Kwarteng proposed a mini budget cutting the top marginal tax rate (etc). The Pound depreciated not quite reaching parity with the dollar (fell bellow 104 cents though) and the 10 year...

Read More »

What News was in My In-Box

Kind of a mixed bag of what news was showing up in My In-Box. It was evenly spread amongst various topics. Ford building a battery plant just like everyone else is planning. Wall Street buying up residential homes. That purchasing of houses will come to no-good for the average citizen. ACA Preventive is under threat by a looney federal judge in Texas and SCOTUS has to decide. Non-Opioid pain treatment sounds like a good idea. If you do not like the...

Read More »

Rail lines and Unions head off a potentially devastating Strike

If you believe railroads do not count much anymore in the American economy, you need to rethink your thought. For a major automotive company, I was coordinating shipments to and from Asia via container, rail, and ocean. It was not that hard if you understood the lead times, customs, shipping and rail, and the bottlenecks. Typically we would pick up or ship out of Long Beach or LA. Coming in to us would arrive by rail with the bottleneck being...

Read More »

Weekly Indicators for September 12 – 16 at Seeking Alpha

Weekly Indicators for September 12 – 16 at Seeking Alpha  – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. Gas prices have continued to decline, with almost the entire Ukraine war spike gone. Meanwhile Tuesday’s core CPI reading sent the bond market into a tizzy, with interest rates going back up to their highs. The decline in gas prices is good news for the immediate short term. But the increase in interest rates...

Read More »

Banking for the People

“Banking for the People: Lessons from California on the Failures of the Banking Status Quo,” Roosevelt Institute, Emily DeVito Introduction The current banking system in the United States and its fine and fee-heavy profit model is a barrier to economic entry and financial security for millions of individuals and families. Especially a barrier for those who are Black, brown, and/or low-income. In addition to being grossly unfair, our status quo...

Read More »

US Public Opinion on Income redistribution

I am going to give a hostage to fortune. I am going to guess that the preferred policy supported by a majority of US respondents on questions about redistribution of income is that which would directly serve the narrow short term economic interests of a (probably different but overlapping) majority of US respondents. I am guessing that the majority view is that view which would be the majority view if everyone were selfish (and out and proud...

Read More »

An update on oil and gas prices

An update on oil and gas prices  – by New Deal democrat After stabilizing in the $87-$94 range for a little over a month, oil prices have declined further in the past several days. As of this morning they were in the $82/barrel range. The YTD graph via CNBC below shows that they have now completely reversed the Ukraine invasion increase that began in February (perhaps linked to Ukraine’s counteroffensive of the past week?): Gas prices follow...

Read More »

China and the Debt Crisis

by Joseph Joyce China and the Debt Crisis Sri Lanka is not the first developing economy to default on its foreign debt, and certainly won’t be the last. The Economist has identified 53 countries as most vulnerable to a combination of “heavy debt burdens, slowing global growth and tightening financial conditions.” The response of China to what will be a rolling series of restructurings and write-downs will reveal much about its position in the...

Read More »

Identifying the policy levers generating wage suppression and wage inequality

 Lawrence Mishel and Josh Bivens  at Economic Policy Institute take a look at why wages have been relatively flat compared to productivity gains in the US economy, inequality of compensation, and declining share of income between labor and capital. Broad strokes but helps with context and suggesting ideas for current government actions. Inequalities abound in the U.S. economy, and a central driver in recent decades is the widening gap...

Read More »