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The Politics of Wages
Last week, the Economist published an article ostensibly about the politics of wages. Earned income has become a populist football, apparently, with both political parties jockeying to take the most...
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The Fuss About Wages Is The Fuss
The latest FOMC policy statement was dominated by a single, added word; “some.” As far as actual policy maneuvers I doubt it will make much of a difference, but it certainly adds more flavor to the...
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‘Trickle Out’ Economics Is Really Politics
With global economic perceptions finally creeping toward financial perceptions (not stocks) despite the enormous and mostly ongoing “stimulus” almost everywhere, it is useful to review once more the...
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From Payroll Shift to Broad Sentiment Shift?
Even before the payroll report was issued, there was already an effort underway to downplay any negative potential. Global markets have been upset and in turmoil, but the US consumer and the consumer...
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It Took Three Decades, But Fears of Turning Japanese Are Closer Than Ever
It may be unexpected to economists, but the sudden and uniform economic downside that is either appearing or strengthening almost everywhere in the world is closely tracking the wholesale “dollar.” In...
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Where It All Went Wrong
With the housing recovery, it is perhaps because it has been much more visible and earnest that the disparity is more easily appreciated and understood. Prices have surged in some places as much as the...
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The Strict Limits Of US QE
In addition to the worrisome durable goods report (in the respect that it just continues the same contraction part of the slowdown), consumer confidence slipped suggesting that the rebound in stocks...
View ArticleThe Last Ride Of The Unemployment Rate
It’s easy to set aside the nostalgia, so to speak, since this is likely the last Christmas holiday season to be talked about in the media in the positively glowing terms of the unemployment rate. Ever...
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Itching To, But Not In A Rush
Back in March 2015, the Federal Open Market Committee (FOMC), the policymaking body of the Federal Reserve, had a problem. In reality at that particular time they had a whole range of problems, but one...
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2017 Is Two-Thirds Done And Still No Payroll Pickup
The payroll report for August 2017 thoroughly disappointed. The monthly change for the headline Establishment Survey was just +156k. The BLS also revised lower the headline estimate in each of the...
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