Two excellent short and very readable mini articles (to be redundant). Both pieces are pointing to a direction the Fed should take in the next year or sooner with regard to Climate Change. It is doubtful they will do so until catastrophe hits. What is a few $billion more in spending, right??? This aspect of our economy and how it can impact the economy should be taken into consideration in decision making and costs. This is partially why, these...

I guess if you are X-President D. Trump and a civilian, nothing still applies to him. Even showing respect at Arlington. This is a man who called Vets losers. Trump: “Why should I go to that cemetery? It’s filled with losers.” On McCain . . . “He’s not a war hero,” Trump said in 2015 while running for the Republican nomination for president. “I like people who weren’t captured.” About McCains funeral, “He’s not a war hero,” Trump said in 2015...

There’s never a single data point that determines where the economy is going. 

 – by New Deal democrat Over the past year, I have downgraded the importance of manufacturing indicators as a forecasting tool for the economy as a whole. This post explores why and suggests a revised tool that may be a helpful short leading indicator. On Monday, durable goods orders rebounded sharply in July from their abrupt June decline. Still, as shown in the graph below, growth in both new factory orders and core capital goods orders has...

Engineers, Finance, and IT Pros: Learn 50+ years of Real Economics in only 7 Weeks. Weekly with me. Learn more: apply.stevekeenfree.com OR Join ~10,000 others in downloading my free 'Funny Money' Bundle (2 books, worth $60): new.stevekeenfree.com -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against...

Debt Crisis: Japan's Warning for Us!

Climate change isn't just a minor inconvenience. It's more like a ticking time bomb. The idea that a 1.4% GDP drop is the worst we face is laughable. Imagine predicting a storm and only preparing for a drizzle. The reality is that climate change will wreak havoc on economies. It's not just about rising temperatures. We're talking about food shortages, energy crises, and social unrest. Countries will hoard resources like kids hoarding candy on Halloween. Those with enough food...

A mistaken theory claims prices convey information about relative scarcities. Friedrich Hayek uses an example of tin. According to this theory, a higher wage incentivizes investments in less labor-intensive techniques and to shifting production towards less labor-intensive commodities. Likewise, a lower interest rate incentivizes investments toward more capital-intensive techniques and to shifting production towards more capital-intensive commodities. A number of attempts have been made...

Here’s the Penn Wharton Budget Model breakdown for how much each candidate’s economic proposals will affect the national debt:“We estimate that the Trump Campaign tax and spending proposals would increase primary deficits by $5.8 trillion over the next 10 years on a conventional basis and by $4.1 trillion on a dynamic basis that includes economic feedback effects. Households across all income groups benefit on a conventional basis.”“We estimate that...

QUARTZ The ‘Lock-in Effect’ is Easing. Here is What It means for the Housing Market Homeowners are beginning to give up on waiting for lower mortgage rates. That could be good news for potential homebuyers. In the first quarter of this year, six of every seven homeowners, or 86%, have a mortgage rate below 6%, according to a Redfin analysis of the Federal Housing Finance Agency’s National Mortgage Database published Tuesday. That’s down from a...