Tag Archives: US EConomics

Report on the impact from the expanded unemployment insurance, economic impact payments, aid to states and localities, child tax credits, and temporary protection from eviction amongst other measures as reported by the authors. These actions provided relief to workers and their families to help them weather the recession. These measures also fed the surge in employment, wages, and gave low-wage workers better job opportunities and leverage to see...

by Bill McBride Calculated Risk, May 29, 2024 The FDIC released the Quarterly Banking Profile for Q1 2024: Reports from 4,568 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) report aggregate net income of $64.2 billion in first quarter 2024, an increase of $28.4 billion (79.5 percent) from the prior quarter. A large decline in noninterest expense because of several substantial,...

It is unfortunate we do not possess a “Wayback Machine” to fix the issues we are experiencing with banks since 1986. Instaed we bumble again and again, making the same mistake over and over with banks. In a cartoon series called Peabody’s Improbable History, Mr. Peabody and Sherman would open the door to the past, speak in English to everyone they met (even if they could not speak English). The translation was a part of the machine. Both Mr....

This article can not get any easier to read and explain how the economy survived a pandemic from 2020 onward and even into 2024. With the right actions by a president and supported by a Congress, the nation survived and it grew. In summation? The “economy has had a remarkable four-year run, judged against both its own history or the international competition.” If you disagree, this one has few technical details to confuse the issues. Make your...

First, this report (GDP and Income) is almost three months old. The latest release: will be June 28, 2024. “Gross Domestic Product by State and Personal Income by State, 1st Quarter 2024.” Some detail establishing a base for the June 28, 2024 report which will cover 1st Qtr. 2024. Briefly: The BEA has updates on population which I will have to check out. If you remember from New Deal democrats report, there has been a discrepancy between...

by Merrill Goozner GoozNews Hospitals are pushing back on an experiment that would put providers on budgets. CMS should ignore their lobbyists and consultants playing games with numbers. Changing the way hospitals and doctors get paid is central to reforming our dysfunctional health care system. Payment reform can achieve better health outcomes, improve the patient experience and help keep overall health care costs in check, the three goals...

Extract from Thomas Jefferson to “Henry Tompkinson” (Samuel Kercheval) “I am not among those who fear the people. they and not the rich, are our dependance for continued freedom. and to preserve their independence, we must not let our rulers load us with perpetual debt . . . if we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries & our comforts, in our labors & our amusements, for our callings...

The article as it stood was long and enduring. I do not believe many of the readers at AB would complete it. What I did is grab the intro and three graphs to make the point of, we are not doing enough to educate a workforce. Labor that can meet the demands of the future. The nation is failing a large percent of its younger population. through a lack of education and adequate funding to provide for it. Ok, I said it three times. Hopefully, you read...

 – by New Deal democrat Initial jobless claims rose significantly last week, up 13,000 to 242,000, the highest level since last August. The four-week moving average rose 4,750 to 227,000, the highest level since last September. And with the usual one-week delay, continuing claims rose 30,000 to 1.820 million, the highest since this January: There is no doubt at this point that jobless claims are in a significant uptrend. But note from the...

by Steve Roth Originally Published at Wealth Economics Wealth concentration got just a tiny bit less extreme. The bottom 50% of American wealth holders got richer in the last three years: in 2021, ’22, and ’23 — not just in absolute dollar terms, but relative to richer folks. The percentage growth was faster than it was for wealthier groups, so wealth inequality went down — but only by a smidge. The first thing to know is that the Bottom...