Political Economy category archive
Nothing To Do, Nowhere To Go 0
A little better.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, decreased to 276,750 from 278,500 in the prior week. Filings have been below 300,000 for 65 consecutive weeks — the longest stretch since 1973 and a level economists say is typically consistent with a healthy labor market.
The number of people continuing to receive jobless benefits increased by 12,000 to 2.17 million in the week ended May 21.
Bad for Business, Too 2
At MarketWatch, M. I. T. Professor Simon Johnson considers the three main components of Donald Trump’s popular appeal and finds them all disturbing and–here’s why this article was carried on MarketWatch–economically destructive. Here’s a bit of what he says about one: the anti-immigrant position:
This is a recipe for a police state — checking identities, raiding people’s houses, and encouraging neighbors to inform on one another. It is also fundamentally anti-American, in the sense of undermining everything that the country has achieved. The U.S. is a nation of immigrants — the best in the world at integrating new arrivals. After one generation in the country, no one cares where your family came from.
Trump — and those who bring him to power — would throw all of this out of the window. The associated social disruption would by itself cause not just an economic slowdown, but a sustained decline in GDP and incomes.
Trump is repugnant on many levels, including an economic one.
The Privatization Scam 0
It’s a con, perpetrated those who believe that there is no such thing as the public good.
Nothing To Do, Nowhere To Go 0
Better, and still nicely under 300k.
Economists’ estimates in the Bloomberg survey for weekly jobless claims ranged from 270,000 to 297,000. The previous week’s figure was unrevised at 278,000.
Wyoming estimated data last week and otherwise there was nothing unusual in the figures, according to the Labor Department.
The four-week moving average of claims, a less volatile measure than the weekly figures, increased to 278,500 from 275,750.
“Exhausted Democracy” 2
Holger Stark, Der Spiegel’s Washington Bureau chief, attempts to understand Trumpery. A snippet (emphasis added):
This aggressive nationalism is paired with an absurd authoritarianism. Indeed, there is something operatic about Trump promising his voters that after he wins the election, his first official act will be to call the CEO of Ford and force him to move his auto plants from Mexico back to the United States within 48 hours — not to mention his vow to force Apple to stop making iPhones in China. But Trump’s words have made an impact.
Follow the link; you may consider this a required reading assignment.
Nothing To Do, Nowhere To Go 0
Somewhat better.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, rose to a seasonally adjusted 275,750 from 268,250 in the prior week.
The number of people continuing to receive jobless benefits decreased by 13,000 to 2.15 million in the week ended May 7.
Nothing To Do, Nowhere To Go 0
Not great, but still under 300k.
(snip)
The four-week moving average of claims, a less volatile measure than the weekly figures, increased to 268,250 from 258,000.
The number of people continuing to receive jobless benefits rose by 37,000 in the week ended April 30, the biggest increase since the end of November, to 2.16 million.
Gerry Mander, and His Entire Staff 0
Afterthought:
Of course, the cartoonist seems to ignore that Elbridge Gerry was a “founding father.” There’s nothing new about gerrymandering. What’s new is the efficiency: the confluence of computers and cravenness combine, concentrating its consequences.
Via Job’s Anger.
Nothing To Do, Nowhere To Go 0
Still nicely under 300k.
(snip)
The four-week average of jobless claims, a less-volatile measure than the weekly figure, rose to 258,000 from 256,000 in the prior week. Filings have been below 300,000 for 61 weeks — the longest stretch since 1973 and a level economists say is consistent with a healthy labor market.
The number of people continuing to receive jobless benefits fell by 8,000 to 2.12 million in the week ended April 23, the lowest level since November 2000.
“The Dismal Science” 0
Harry Shearer interviews economist James Galbraith. Follow the link to listen; you’ll be smarter for it (the interview starts at about the 14 minute mark).
Nothing To Do, Nowhere To Go 0
Still not bad.
(snip)
The four-week moving average of claims, a less volatile measure than the weekly figures, decreased to 256,000, the lowest since December 1973, from 260,750.
The number of people continuing to receive jobless benefits fell by 5,000 to 2.13 million in the week ended April 16, the fewest since November 2000. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
The Rights Balance 0
In NRA Paradise, the “rights” of ammosexuals to play with their ammosexual appendages trump all other rights, but there are worms–nay, wormwood–in the NRA apple. Bruce Greenspun writes eloquently at the Las Vegas Sun. A snippet.
But none of those, I submit, is as precious as the right of a young child to be able to grow up free from the constant fear of being shot to death on the schoolyard, in the classroom, in a movie theater, in a church parking lot or anywhere else that has long been a violence-free zone in America. Until recently.
I am certain I am not the only grandfather or father who fears the phone call that says the school where a grandchild or child attends is on lockdown because some crazy person with an assault rifle or machine gun or whatever else he could get his hands on is shooting up the place.
Just read it.
Nothing To Do, Nowhere To Go 0
Still not bad.
(snip)
The four-week moving average of claims, a less volatile measure than the weekly figures, decreased to 260,500 from 265,000.
The number of people continuing to receive jobless benefits fell by 39,000 to 2.14 million in the week ended April 9, the fewest since November 2000. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
The story says this is the best report since 1973, the year I entered the workforce.
Deduct This! 0
Warning: Taste (Very Little)
Moved below the fold because it autoplays on some systems.
(Parenthetical Remark: Autoplaying is evil. It is more evil than HTML email.
I am looking for a pattern, but have not found it. I can’t blame it on Windows, as it occurs on Linux also. These pestilences autoplay on some Linux distros and not on others, in some browsers and not in others, and I have not isolated a pattern.
Eventually, though, I shall track down the trouble and I shall shoot it. Troubleshooting is what I do.
By the by, if you catch something autoplaying, email me from the link over there on the sidebar
————>
and I shall push it below the fold.)
Solidarity Reimagined 0
One day those who have been seduced by the snaring economy will realize that they have been duped.
While they work for pittances, Silicon Valley reaps the premium and sucks them dry. It’s bubblelicious.
I carried a union card for 24 years.
Shortly after I started at my first employer, my job became a union job and my pay went up because I was no longer without protection. (I won’t go into the technical details of why this happened–it had to do with “deferred agreements” and stuff like that there).
When I got promoted into a non-union job, I continued to pay my union dues and maintained my seniority as a fall-back. When the time came that I needed a fall-back (my whole office and all the persons in it in Wilmington, Delaware, got offed), it turned out that I didn’t need to exercise my seniority rights, as I fell back into another industry. Nevertheless, those rights were there and I could have used them to put bread on the table had the other opportunity not come along all on its ownsome.
I never had to avail myself directly of the union’s services, because the union had already fought to protect me; I benefited from the sacrifices of persons who were willing to die for workers’ rights. I appreciated those protections, and, the more I learned about labor law, the more I appreciated them. I appreciate them still.
The union made my life better.
“Right to work” laws are in truth “right not to get paid fairly” laws and are one of the most successful cons in American political and labor history.
Image via Juanita Jean.
Afterthought:
In the phrase, “everyone is an entrepreneur,” methinks “entrepreneur” is “exploited” misplet.
Nothing To Do, Nowhere To Go 0
Still under 300k.
(snip)
The four-week moving average, a less volatile measure than the weekly claims numbers, decreased to 265,000 last week from 266,500.
The number of people continuing to receive jobless benefits fell by 18,000 to 2.17 million in the week ended April 2, the lowest since the period ended Oct. 17. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a one-week lag.
The four-week average of continuing claims dropped to 2.18 million, the lowest since November 2000.
Nothing To Do, Nowhere To Go 0
Not much change, but still under 300k.
(snip)
Economists’ estimates in the Bloomberg survey ranged from 261,000 to 290,000. Applications in the prior week were unrevised at 276,000.
The four-week average, a less volatile measure than the weekly claims numbers, increased to 266,750 last week from 263,250.
Society Is Social 1
In the Minneapolis Star-Tribune, Bruce Peterson, taking issue with a previous column (linked in his article), explains that a civilized society is, indeed, social.
No summary or excerpt can do his article justice. Just read it.