The ‘Nobel Prize’ in Economics is seriously flawed People have, throughout all times, tried to form an understanding of the economic contexts using economic theories. These theories both shape and are part of society and its history. In the past century, the development of economic theories has taken place at an increasingly rapid pace. Over the last fifty years, these theories have become more mathematical and abstract in their nature. This particularly...

She should just ignore or laugh at the Fitch rating downgrade.

June’s JOLTS report: slow progress towards a new equilibrium  – by New Deal democrat Yesterday’s JOLTS report for June captured a labor market that continues to move towards a new equilibrium, mainly via a gradual decline in job openings compared with labor availability. In other words, for the umpteenth time, “deceleration.” Job openings and actual hires both declined to new 2+ year lows, and voluntary quits also declined to just above a 2+...

June’s JOLTS report: slow progress towards a new equilibrium  – by New Deal democrat Yesterday’s JOLTS report for June captured a labor market that continues to move towards a new equilibrium, mainly via a gradual decline in job openings compared with labor availability. In other words, for the umpteenth time, “deceleration.” Job openings and actual hires both declined to new 2+ year lows, and voluntary quits also declined to just above a 2+...

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Quran burnings in Sweden and Rule of Law This week, yet another Quran was burned in Stockholm, Sweden. As before, the criticism is mostly directly aimed at the Swedish government. What authoritarian regimes seem to fail to understand is that in Sweden, it is the police that makes decisions regarding permits, and Sweden has a constitutionally protected freedom of speech. Quran burnings are both distasteful and contribute to an already significant...

lol Biden’s consigliere didn’t see this one coming… The United States faces serious long-run fiscal challenges. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept.— Lawrence H. Summers (@LHSummers) August 1, 2023 GOP is going to be all over this Biden downgrade… ???Biden Treasury is having to increase the Biden UST issuance by $1T in order to pay the additional $1T Biden interest on the USTs due...

This article came by way of Dale Coberly. In particular, Dale thought making student loans the responsibility of universities rather than students was enlightening. Florida Gov. Ron DeSantis unveiled a new economic plan Monday as part of his 2024 presidential bid that includes a goal of easing the path for student loans to be discharged through bankruptcy. DeSantis’ “declaration of economic independence” includes 10 pillars that he says will...

This article came by way of Dale Coberly. In particular, Dale thought making student loans the responsibility of universities rather than students was enlightening. Florida Gov. Ron DeSantis unveiled a new economic plan Monday as part of his 2024 presidential bid that includes a goal of easing the path for student loans to be discharged through bankruptcy. DeSantis’ “declaration of economic independence” includes 10 pillars that he says will...

“About 90 minutes before the Michigan Supreme Court ruled Monday the cuts in payments to healthcare givers of badly injured motorists don’t apply to those injured before June 2019, one of those survivors died in a Farmington Hills hospital following a two-year struggle to maintain his quality of life and health. Sixty-four year old Brian Woodward spent the past 24 months of his life being shuffled between three nursing facilities and 22 hospital...