Tag Archives: US/Global Economics

The Utterly Terrible GOP Tax “Reform” Scam The Republicans in the House and Senate continue on their downhill rush to pass their so-called “tax reform” plan before the holiday break.  It’s a mad rush to nowhere, a corrupt process of “please the oligarch” that will cause a huge deficit increase (on the scale of $1 to $1.5 TRILLION over ten years) and be used by the Ryan, McConnell and Trump cadre of liars to justify a domino effect of Medicare, Medicaid,...

The August and September hurricanes continue to make their impacts felt in the economic data.  Yesterday’s JOLTS report for October, like the October and November jobs reports, shows a rebound from those impacts.  The best way to look at the data is to average the last two months (and this will be true for the next JOLTS report as well, which will be best viewed by averaging all three months).Let’s start as usual by updating the disconnect between...

Via the International Monetary Fund: Income inequality among people around the world has been declining in recent decades. But the news is not all good. Inequality within many countries has increased, particularly in advanced economies. In addition to income inequality, wealth inequality—what you have accumulated, as opposed to what you earn—is closely related, and reflects differences in savings, inheritances, and bequests. In our Chart of the Week from...

The End Of The “Islamic State.” There are two aspects of this debate, one about the term, “Islamic State,” and the other about the its application. So, until about a month ago the entity calling itself ” al-Dawla al Islamiyya fi al-Iraq wa al Sham(s),” was claiming to be the most important Muslim political entity in the world, the center of its “Caliphate” which claimed to be the only legitimate and supreme ruler and polltical state for the entire...

November Jobs Report: good month, same caveats HEADLINES: +228,000 jobs added U3 unemployment rate unchanged at 4.1% U6 underemployment rate rose +0.1% from 7.9% to 8.0% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now:  rose +53,000 from 5.175 million to 5.238 million Part time for economic reasons: rose +48,000 from 4.753 million to 4.801 million...

Lifted from comments Denis Drew points us to: Americans are drowning in debt. Here’s where they have it the worst. By Christopher Ingraham, December 8 at 1:58 PMhttps://www.washingtonpost.com/news/wonk/wp/2017/12/08/americans-are-drowning-in-debt-heres-where-they-have-it-the-worst/?utm_term=.45e91dd1c24f “Nationwide the data shows that 33 percent of Americans hold debt that is currently in collection. The median amount of debt in collections is $1,450.”...

David Zetland writes at Aguanomics Stop talking affordable water and start talking poverty Circle of Blue published this long, aggravating article of the efforts of activists, water managers and (far too many consultants) to “find a compromise” on the price of water that will cover system costs without “burdening the poor.” Let me solve this “puzzle.” First, there’s no point in making water cheap to help poor people. Cheap water will not make them rich....

An astute progressive critique of the Trump Administration from … CNBC?!? John Harwood of that well known lefty outlet, …. ummm, CNBC …. writes this morning that “Trump has Forgotten his ‘Forgotten People’:” He forgot them on health care. Jettisoning his campaign pledge to “take care of everybody” regardless of income, he proposed cutting federal health subsidies for the hard-pressed blue-collar voters who put him into office. He forgot them on financial...

by Hale Stewart (originally published at Bonddad blog) ISM Reports Show Broad Economic Strength: Latest Nowcasts are Strong The latest ISM reports are out and both show broad strenght.  The new orders and production component of the manufacturing report were very strong (up +.6 to 64 and +2.9 to 63.9, respectively).  The anecdotal comments were very bullish: The service sector numbers were also strong: production +.9 to 62.2.  New orders were off...

Has Dean Baker Joined Team Republican? The dishonesty ab out the Trump tax cut for the rich from certain Republican leading conservatives are been extensively noted so let’s not go there. But why is Dean Baker writing this? There are two ways in which we can say that a deficit/debt is will hurt our children. The first is by slowing economic growth and therefore making the economy and our kids less wealthy in the future than they otherwise would be. The...