Morning . . . One other factor I believe you may have missed (too many factors). The 2017 Tax Cuts and Jobs Act did not pay for itself over the last 10 years. Just a small matter of it passing using Reconciliation which insists it pay for itself (being redundant here). The repeal of it impacts those in the upper 10% (or more) of the taxpayers and more so the 1 percenter who make up a million (taxpayers) or slightly more taxpayers having income...

 – by New Deal democrat Over the weekend Harvard econ professor Jason Furman suggested that the Fed funds rate is not very restrictive: “As inflation has come down the real Federal funds rate has risen and is now the most restrictive it has been this cycle, a point that Austin Goolsbee has emphasized a number of times . . . That is not the way I would look at it. The rates that matter for the economy are long rates. and expected inflation...

Kevin Drum pushes back on the WSJ claim that household debt is a problem in America, and Kevin brings the receipts:“. . . debt as a percent of disposable income . . . is currently lower than it was at the end of 2019 (9.8% vs. 10%).“. . . household debt as a percent of GDP . . . went up during the pandemic and then back down. It is currently lower than it was at the end of 2019 (76.2% vs. 77.7%).“Total credit card balances today are precisely the same...

Progressives and social democrats should be fighting them tooth and nail, not blithely embracing them. by Steve Roth Originally Posted at Wealth Economics The spreadsheet behind the tables and graphs here is available on request. Drop me a line in the comments or elsewhere. Following the community of Socks (?s) or “social democrats” out there on the interwebs (this is definitely my economic tribe), in articles, and in books, there’s a...

Testing Oceanic Carbon Capture I’ve mentioned previously the hypothesis that iron fertilization of the ocean and consequent phytoplankton blooms is one feasible method to achieve global carbon capture. Small-scale experiments have been done already. The results have been mixed insofar as documenting the scale of phytoplankton blooms, but there has been no reported harm.Another strategy relies on chemical sequestration of atmospheric CO2 through...

Även människors privata umgänge verkar utvecklas efter modell av industrins så kallade flaskhalsar. Även inom den minsta gemenskap blir det den mest okultiverade som kommer att ange nivån. Den som exempelvis i ett bordssamtal börjar tala över huvudet på någon enda av deltagarna bir taktlös. Av finkänslighet begränsas samtalet till det mest närliggande, ointressanta och banala om så bara en enda okänslig människa är närvarande. Alltsedan världen berövade människorna talförmågan...

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

We are not going to get much time to know VP Kamela Harris. I took the liberty of copying word for word what The Copper Courier (independent news) had to offer about her background just today. It covers quite a bit. Hopefully, this will give you some background to base any feelings negative or positive about her. Of course, I knew more about Joe Biden. He was relentless on not offering any type of relief for student loans as a Senator. Many of...

President Joe Biden ends his 2024 reelection bid after weeks of pressure from Democrats to drop out, PBS News No doubt the moneyed influence played an important part in his leaving the race. Much of this has to do with future plans of addressing tax breaks. More on this part later. Tags: Joe Biden ...

Mainstream economics ignores three crucial elements: banks, debt, and money. This omission is like trying to understand bird flight without considering wings. Imagine trying to explain how a car works but ignoring the engine. That's what mainstream economists do when they leave out banks, debt, and money. They assume these elements are irrelevant or will naturally balance out. But that's not how the real world operates. Banks create money through lending, which fuels economic...