Potential Dem VP Pick Comes After JD Vance by Kathryn Rubino Above the Law Well, Joe Biden is out of the 2024 race for president. Dems have seemingly coalesced around Kamala Harris for the top of the ticket, leaving the political speculation to focus on who will be the Democratic Vice President candidate. There are plenty of qualified options out there, each bringing their own pluses and minuses to the equation. One tantalizing option...

Some jabroni had to tell me in a comment that he unsubscribed. Hilarious.

Existing home market inventory and prices move slowly towards normalization, while sales remain punk  – by New Deal democrat Since existing-homes sales are less important for economic purposes, and especially with new home sales being reported tomorrow morning, I will keep this brief. What we are looking for is rebalancing in the housing market. For that to happen, we want the inventory of existing homes to increase, prices to stabilize, and...

Publications Terms of engagement Rethinking conditionality to support more people into better jobs By Tom Pollard 23 July 2024 Download the report Conditionality – the requirements...

by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.2 Published in 1821, The Source and Remedy of the National Difficulties was a major influence on Marx’s analysis of ‘disposable time.’ In an 1851 notebook, Marx logged a 1000 word summary of the pamphlet. He also discussed it extensively in volume 3 of Theories of Surplus Value. His discussion of disposable time in a section of...

The Federal Reserve's misunderstanding of the 2007 crisis has only worsened inequality. They pushed quantitative easing, thinking it would save the economy. Instead, it inflated asset prices. Who benefits? The wealthy. Most people own minimal shares. They gain nothing. It's like giving a starving man a cookbook. Looks helpful, but doesn't fill his stomach. The Fed's actions have tightened the inequality rubber band. It's stretched to its limit. Ready to snap. When it does, the...

It appears that the democratic nomination contest is wrapped up.  People are voting with their wallets.  Pelosi and Obama at one point appeared to favor some kind of competitive process, but Pelosi has evidently thrown her support behind Harris.  Potential rivals are all standing down. Ezra Klein is still making the case for an abbreviated nomination contest.  His strongest points are that we will learn something about Harris by having her compete...

The Austrian economist Per Bylund has recently written this challenge to advocates of MMT/Neochartalism:Bylund, Per. 2023. “Is it Money because it is redeemed in Tax Payments?: A Response to Kelton and Wray,” Quarterly Journal of Austrian Economics 25.4: 147–165. In this article, in reply to an argument by the MMT economist Stephanie Kelton, Bylund argues that fiat money cannot have value only because it is used to pay government taxes:“If the [sc. fiat] currency is valued because (and only...

2020 Census: 1 in 6 People in the United States Were 65 and Over, MAY 2023 Added a chart from the Census Bureau to emphasize the point of an aging population. There are a whole lot of us who are just a few years behind Joe Biden, and society isn’t ready for it. What happens when the young-old get old-old by Lloyd Alter Carbon Upfront I was thinking about getting old this weekend, and not just because of Joe Biden. I was at a...

I had presented Part I and Part II a while back. Part III was difficult to present in a piece-meal way so for now I have set it aside. What is interesting about Part IV is I can beak it apart into segments, still maintain the flow of informatio, and present it in a logical manner. Bear with me. By the time we get to the end, I believe you will be able to piece this together too. In Part IV . . . What Antonio is doing in Part IV is laying the...