Tag Archives: US EConomics

The 2.5 million employment gain does not look too impressive from this perspective.

The HEROES act passed by House Democrats did not include a formula that would keep expanded unemployment insurance benefits in place until the economy has recovered.  The always thoughtful Ezra Klein is very critical of this omission.  His argument can be boiled down to two points: If Biden wins the presidency, Republicans will predictably try to destroy Biden politically by refusing to extend economic supports needed to protect families and promote an...

The HEROES act passed by House Democrats did not include a formula that would keep expanded unemployment insurance benefits in place until the economy has recovered.  The always thoughtful Ezra Klein is very critical of this omission.  His argument can be boiled down to two points: If Biden wins the presidency, Republicans will predictably try to destroy Biden politically by refusing to extend economic supports needed to protect families and promote an...

by New Deal democrat Housing permits and starts plummet in April, but mortgage applications suggest big rebound in May At some point it is going to be safe for the economy to be completely reopened. When that point comes it would be nice if the leading sectors of the economy have already been priming the pump for a consumer rebound.  As usual housing is the most important long leading sector in that analysis. As expected, housing tanked in April. But it...

A very interesting paper (not peer-reviewed) by a team of Israeli scholars proposes that a more manageable exit from pandemic lockdown might be achieved by implementing a scheme in which employees go in to work for four days and then return to isolation for ten days before repeating the cycle. A variation on the proposal would have two staggered relays of workers cycling through the 14 day routine. The research has been popularized in a New York Times...

What happens when you downsize a large number of people? Well, it depends on the cohort downsized. In this case, [embedded content] That’s correct; Average Hourly Earnings skyrocketed from $28.67 to $30.01: up $1.34. For context, that one-month change matches the average hourly earnings growth from September/October of 2018 until March of this year–18 months of increases in a month. And all it took was eliminating the jobs of about 6% of the U.S....

On April 20th Georgia Governor Kemp called for “reopening more of the state’s economy to minimize the ‘terrible impact of Covid-19 on public health and the pocketbook.’” It would apply to certain non-essential businesses. Kemp, who was later told by Trump it was too early to reopen Georgia’s economy, was following Trump’s lead to begin to open state economies. Many states like Georgia do not have the funds available (by choice) to pay for long periods of...

This was the first pass (Ernie Tedeschi of Evercore prepared the data) and it is arranged by the percentage of loans completed in each state. As you can see Nebraska received ~81% of the loans applied for by the small businesses in Nebraska. One million, 35 thousand and 86 SBA PPP Loans (1,035, 086) were approved by April 13 totally $247, 543, 397, 521 by 4,664 lenders. Seventy percent of the funds were already allocated by April 13. Some Applicant...

Jason Brennan has a new post up doubling down on his earlier criticism of epidemiologists and government policy in response to the COVID crisis.  I responded to his earlier blog posts here.  I am still not convinced, but there are useful lessons to be learned from going through his argument. Brennan continues to claim that epidemiologists produced bad statistical analysis, and that we should not take their advice seriously (all bolding is mine): I’ve been...

I have had this re-posted today because I believe it is as relevant today as when I wrote it in May, 2009.  My hope is that this event we are living moves enough new people to realize the society we built is not sustainable.  My hope is that one of the basic questions I was trying to answer in a more completely when I started blogging at AB is answered in a manor such that the nation and ultimately humanity becomes more inclusive: Why do we have an...