For a new fiscal policy framework Poorer and lower-income households have a higher marginal propensity (MPC) to consume than richer and higher-income households. The more equal income and wealth are distributed, the higher the structural level of demand of an economy. A high structural level of demand in turn reduces the need for public deficits: full capacity utilisation is already achieved at a lower level of debt and deficits. The more unequal the...

How to become a Keynesian Until [2008], when the banking industry came crashing down and depression loomed for the first time in my lifetime, I had never thought to read The General Theory of Employment, Interest, and Money, despite my interest in economics … I had heard that it was a very difficult book and that the book had been refuted by Milton Friedman … Baffled by the profession’s disarray, I decided I had better read The General Theory. Having done...

Economic activity, interest income transfers, rate cuts. All happening.

[unable to retrieve full-text content]The election is very close.  This piece explains why the polls could easily be off by 5 points or more.  Because the polling errors are very likely correlated across states, this means there is a reasonable chance that the election will not end up being close, but we have no idea who is ahead.  Trump […] The post What if Trump wins? appeared first on Angry Bear.

[unable to retrieve full-text content] – by New Deal democrat As usual, I’ll take a quick look at this morning’s headline GDP numbers for Q3 before passing on to my more important focus on the release’s leading components.  Real GDP grew at a 2.8% annualized rate in Q3. Just like Q2, this is a perfectly good number in line with the […] The post Real GDP for Q3 nicely positive, but long leading components mediocre to negative for the second...

[unable to retrieve full-text content]Republicans have long objected to the ACA, and Trump tried several times to have it overturned; he’s claimed he’ll replace it with something better, but in eight years, he’s never come up with even a rudiment of a proposal. And here’s Speaker Johnson at a campaign stop yesterday: “No Obamacare?” an attendee asked Johnson, referring […] The post Healthcare and the 2024 presidential election appeared first on Angry...

[unable to retrieve full-text content]by Explainer Migration Policy Institute Immigrants in the United States commit crimes at lower rates than the U.S.-born population, not-with-standing the assertion by critics that immigration is linked to higher rates of criminal activity. This reality of reduced criminality, which holds across immigrant groups including unauthorized immigrants, has been demonstrated through research as well as […] The post Immigrants and Crime in the United States...

[unable to retrieve full-text content] – by New Deal democrat The JOLTS survey parses the jobs market on a monthly basis more thoroughly than the headline employment numbers in the jobs report. For several years, my mantra for a lot of statistics has been “deceleration.” Well, in the case of the employment market, we have passed the point where deceleration […] The post JOLTS report for September shows continued deceleration in almost all metrics, now close to a...

[unable to retrieve full-text content]The last 4 years of Border Encounters appears to be more than what the Trump Administration experienced. Is this a bad thing? Why did it occur? Has there been more crime? Encounter data includes U.S. Border Patrol (USBP) Title 8 Apprehensions, Office of Field Operations (OFO) Title 8 Inadmissible, and Title 42 Expulsion. Demographics for […] The post Title 8 Apprehensions, Office of Field Operations (OFO) Title 8 Inadmissible, and Title 42...

[unable to retrieve full-text content]Both Richard D Wolff & Michael Hudson emphasized that this summit, while not conclusive, sets the stage for potential long-term transformation in international power dynamics, with BRICS working to shape an order that may increasingly diverge from Western influence. The post BRICS Summit in Kazan: Setting the Stage for a New World Order first appeared on Michael Hudson.