the era of fiscal restraint is over
Venezuelazation of the US economy. Growth driven by government spending rather than capital markets.
Category: economics
NYTimes: World Markets’ Plunge Signals Investors’ Doubts About Trump
NYTimes: World Markets’ Plunge Signals Investors’ Doubts About Trump
World Markets’ Plunge Signals Investors’ Doubts About Trump
A New Movement in Liberal Economics That Could Shape Hillary Clinton’s Agenda – The New York Times
A New Movement in Liberal Economics That Could Shape Hillary Clinton’s Agenda – The New York Times
Redistribution from the rich to the poor isn’t on the table in Washington. But some liberal thinkers are drawn to another way to ease income inequality.
Worth reading.
U.S. economy added 161,000 jobs in October as unemployment rate dipped to 4.9 percent
U.S. economy added 161,000 jobs in October as unemployment rate dipped to 4.9 percent
The disconnect between the economic data and the media reporting is stunning. Why do people feel the economy is doing poorly when the numbers say it’s improving?
Americans’ wages just hit an all-time high
Americans’ wages just hit an all-time high
Obamacare did not tank the economy. Obama is not destroying the economy. ChYgnA isn’t killing us. No one is laughing at us. Trump’s statements about how bad it is are not reflected in the actual numbers. It might be how people feel but it doesn’t reflect reality.
Actually, Hillary Clinton is a fiscal conservative — look it up
Actually, Hillary Clinton is a fiscal conservative — look it up
According to a new report from the nonpartisan Committee for a Responsible Federal Budget, the most fiscally conservative presidential contender left standing is . . . Hillary Clinton.
Kansas Republicans Finally Admit That Their Tax Cuts For The Wealthy Have Failed
We hoped they would just be a magic lantern and everybody would react to it. But, eh, it’s hard to get a company to uproot their business when they’re established and move to another place just because of this difference in tax policy. (via Kansas Republicans Finally Admit That Their Tax Cuts For The Wealthy… Continue reading Kansas Republicans Finally Admit That Their Tax Cuts For The Wealthy Have Failed
Six Problems with the GOP Debate on Financial Reform – Roosevelt Institute
Six Problems with the GOP Debate on Financial Reform – Roosevelt Institute
Nobody Wants to Be a SIFI
Actually, institutions declared systemically important fight against it, hard. GE sold off GE Capital, and in the process its chairman said “GE will work closely with [regulators] to take the actions necessary to de-designate GE Capital as a Systemically Important Financial Institution.” They wanted out.
MetLife is suing the government because it was designated SIFI status. Carl Icahn is pushing AIG to break itself up to avoid its SIFI status. JP Morgan sold off 6 percent of its assets to prevent having the highest SIFI capital surcharge applied to them. The Too Big To Fail subsidy that is supposed to explain why people would want SIFI status has shrunk dramatically toward zero since the crisis. There is no bragging. There is solid resistance, as there should be.
The candidates funded by the hedge fund industry and the big banks wold be complaining about Financial reforms and The Volcker rule if it wasn’t a burden to their funders. Banks do not want to be tagged as a SIFI. The costs imposed on them are too great. They would much rather externalize their risks to others and ultimately the tax payers. Internalizing their risks it bad for bonus season.
Predatory Islamic State Wrings Money From Those It Rules
Predatory Islamic State Wrings Money From Those It Rules
Across wide expanses of Syria and Iraq, the Islamic State, with the goal of building a credible government, has set up a predatory and violent bureaucracy that wrings every last American dollar, Iraqi dinar and Syrian pound it can from those who live under its control or pass through its territory.
Interviews with more than a dozen people living inside or recently escaped from the Islamic State-controlled territory, and Western and Middle Eastern officials who track the militants’ finances, describe the group as exacting tolls and traffic tickets; rent for government buildings; utility bills for water and electricity; taxes on income, crops and cattle; and fines for smoking or wearing the wrong clothes.
Extraction economy.
The Minimum Wage: How Much Is Too Much?
Research suggests that a minimum wage set as high as $12 an hour will do more good than harm for low-wage workers, but a $15-an-hour national minimum wage would put us in uncharted waters, and risk undesirable and unintended consequences. (via The Minimum Wage: How Much Is Too Much? – The New York Times) Krueger… Continue reading The Minimum Wage: How Much Is Too Much?