Political Economy category archive
Nothing To Do, Nowhere To Go 0
Back over 300k.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, gained to 294,500 from a revised 283,000 the week before.
In the one constant in a changing world, Bloomberg’s experts again missed the mark.
And the Winner Is . . . 0
The idea that casino gambling could replace honest taxation to support state and local governments has always been a mug’s game. The state mark might win in the short-term, but, in the long-run, the mark always looses.
The casino industry has grown exponentially over the last decade as revenue-hungry states have moved to claim business that once went across state lines to Atlantic City, New Jersey, or the tribal-owned megaresorts in Connecticut. After Nevada, Pennsylvania has emerged as the country’s No. 2 gambling marketing, overtaking Atlantic City, where four of 12 casinos closed last year.
As long as politicians are too chicken to fund public needs through honest taxation, they will remain marks for the privatization scam of the day.
The Snaring Economy 0
Robert Reich asks,
Meanwhile, human beings do the work that’s unpredictable — odd jobs, on-call projects, fetching and fixing, driving and delivering, tiny tasks needed at any and all hours — and patch together barely enough to live on.
Follow the link for his answer.
Nothing To Do, Nowhere To Go 0
A little higher, but still under 300k.
(snip)
The four-week moving average, a less volatile measure than the weekly figures, declined to 292,750 last week, the lowest in more than a month, from 299,250.
The number of people continuing to receive jobless benefits climbed by 6,000 to 2.4 million in the week ended Jan. 24. The unemployment rate among people eligible for benefits held at 1.8 percent. These data are reported with a one-week lag.
Nothing To Do, Nowhere To Go 0
Encouraging.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, dropped to 298,500 from 306,750 in the prior week.
The number of people continuing to receive jobless benefits declined by 71,000 to 2.39 million in the week ended Jan. 17. The unemployment rate among people eligible for benefits held at 1.8 percent during that period, today’s report showed. These data are reported with a one-week lag.
In related news, Bloomberg’s experts were wronger than usual. Bloomberg really needs to trade them in for new experts.
Nothing To Do, Nowhere To Go 0
Down a bit.
(snip)
The four-week moving average, a less volatile measure than the weekly figures, climbed to 306,500 last week, the highest since mid July, from 300,000.
The number of people continuing to receive jobless benefits increased by 15,000 to 2.44 million in the week ended Jan. 10. The unemployment rate among people eligible for benefits held at 1.8 percent. These data are reported with a one-week lag.
The number of filings was higher than Bloomberg’s “experts” predicted. Bloomberg implies that this is somehow a commentary on the unemployment figures, when it is actually a commentary on their “experts.”
Marvels of Modern Engineering 0
At The Guardian, Suzanne Moore points out that an economy is not natural, like a tree. It’s man-made. Here’s a bit.
The rich, via lobbyists and Byzantine tax arrangements, actively work to stop redistribution. Inequality is not inevitable, it’s engineered. Many mainstream economists do not question the degree of this engineering, even when it is highly dubious. This level of acceptance among economists of inequality as merely an unfortunate byproduct of growth, alongside their failure to predict the crash, has worryingly not affected their cult status among blinkered admirers.
Nothing To Do, Nowhere To Go 0
The experts x-spurts unknown drips under pressure are not sure to what extent this reflects the normal post-Christmas retail layoffs.
(snip)
The number of people continuing to receive jobless benefits dropped by 51,000 to 2.42 million in the week ended Jan. 3. The unemployment rate among people eligible for benefits declined to 1.8 percent from 1.9 percent. These data are reported with a one-week lag.
One for All and All for Me 0
This is not a surprise.
A study in Japan shows that Homo economicus makes up only a minority of the population, but a minority with a wide range of unusual personality traits, including a touch of psychopathy.
More at the link.
Nothing To Do, Nowhere To Go 0
Somewhat better.
(snip)
The four-week average of jobless claims, a less-volatile measure than the weekly figure, declined to 298,750 from 299,500 the week before.
The number of people continuing to receive jobless benefits dropped by 147,000 to 2.37 million in the week ended Dec. 6, unwinding the previous week’s surge. Insured unemployment had jumped to 2.52 million in the period ended Nov. 29, which was the highest since August.
Responsible Fiscals 0
Indeed.
The party owes $75,000 on a line of credit at Alliance Bank for loans taken out in late October and November, according to federal finance reports filed this month. It owes another $85,000 in other bank loans.
All told, the party had $990,000 in debt in its federal account after the election. As of mid-October, it also had $450,000 in debt in its state account.
I trust I am not the only person to see the irony in this.
Nothing To Do, Nowhere To Go 0
Back under 300k.
(snip)
The four-week average of jobless claims, a less-volatile measure than the weekly figure, was little changed at 299,250 after 299,000 the week before.
The number of people continuing to receive jobless benefits jumped by 142,000 to 2.51 million in the week ended Nov. 29, the highest since mid-August.
Nothing To Do, Nowhere To Go 0
A little better.
(snip)
Employment probably increased by 230,000 in November after a 214,000 gain the previous month, according to the Bloomberg survey median ahead of the Labor Department’s Dec. 5 report. The unemployment rate is projected to hold at 5.8 percent, the lowest since July 2008.
The four-week average of claims, a less-volatile measure than the weekly figure, rose to 299,000 from 294,250 the week before.
In the most stunning development, Bloomberg’s experts were, for all practical purposes, right on the money.
Nothing To Do, Nowhere To Go 0
Back over 300k.
(snip)
The number of people continuing to receive jobless benefits dropped by 17,000 to 2.32 million in the week ended Nov. 15, the fewest since December 2000.
In that same period, the unemployment rate among people eligible for benefits fell to 1.7 percent, the lowest since November 2000, from 1.8 percent the prior week, the report showed.
In other news, Bloomberg’s experts blew it again.
Nothing To Do, Nowhere To Go 0
Still under 300k.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, climbed to 287,500 from 285,750 the week before.
The number of people continuing to receive jobless benefits dropped by 73,000 to 2.33 million in the week ended Nov. 8, the fewest since December 2000.