Political Economy category archive
Responsible Fiscals 0
Warning: Language.
The Price of Civilization 0
In the Minneapolis Star-Tribune, Eliot Seide reflects on preparing his tax returns. A snippet:
My tax day anxiety was swept away by thoughts of things I’m truly grateful for.
I started my day with a warm shower. That reminded me how thankful I am for clean water and indoor plumbing. For much of the world, that’s a luxury. But not here, where we pay taxes.
I enjoy driving on smooth highways. The lines and lights keep me and other drivers safe. I sometimes like to leave the car in the garage and ride the train to a ballgame. I love the sense of community that comes with riding public transit.
Public services and the common good aren’t free, my friends, though some would like to con you into thinking that they are.
Theft of Labor 0
Thom discusses Donald Trump’s recent executive order nullifying President Obama’s workplace safety initiative and how it facilitates theft of labor.
The Snaring Economy 0
Josh Marshall points out that there is nothing new about the “gig” economy. It has happened before, and it wasn’t pretty then, either.
Billions for Bullets 0
At the Boston Review, takes a look at arguments for increasing defense spending not just wanting, but spectacularly specious. He makes some points that are commonly absent from the discussion and deserve consideration. Here’s a snippet:
A larger flaw in McCain’s argument, however, is that, by historical standards, not much is actually burning. And, more importantly, the United States does not need to go looking for fires to extinguish. The world remains far more peaceful by various measures than at almost any other point, and the United States still enjoys a privileged position: militarily powerful and distant from trouble. U.S. enemies are historically few and weak; U.S. defense spending is more than double what Russia, China, Iran, and North Korea collectively spend on their militaries; and U.S. forces remain vastly superior. North Korea and Iran are troublesome, but incapable of posing much direct threat to their neighbors, let alone the United States, especially considering nuclear deterrence. Russia threatens its neighbors, but with an oil-dependent economy now about the size of Italy’s, it poses little danger to more economically stable nations further west.
Be Careful What You Wish for 0
Thom tangles with a glibertarian.
Nothing To Do, Nowhere To Go 0
Still well under 300k.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, declined to 245,500, the lowest since 1973, from 247,500 in the prior week.
The number of people continuing to receive jobless benefits increased by 41,000 to 2.1 million in the week ended Jan. 14. The unemployment rate among people eligible for benefits held at 1.5 percent. These data are reported with a one-week lag.
Nothing To Do, Nowhere To Go 0
Enjoy it while it lasts.
Key Points
- Jobless claims declined by 15,000 to 234,000 (forecast was 252,000) in the week ended Jan. 14
- Previous week’s claims revised to 249,000 from 247,000
- Continuing claims dropped by 47,000 to 2.05 million in the week ended Jan. 7
- Unemployment rate among people eligible for benefits, also reported with a one-week lag, was unchanged at 1.5 percent
Nothing To Do, Nowhere To Go 0
Still under 300K.
(snip)
The four-week moving average decreased to 256,500 last week, from 258,250. . . . .
The number of people continuing to receive jobless benefits dropped by 29,000 to 2.09 million in the week ended Dec. 31.
Nothing To Do, Nowhere To Go 0
Still well under 300k.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, decreased to 256,750 from 262,500 in the prior week.
Nothing To Do, Nowhere To Go 0
Still nicely under 300k.
(snip)
The four-week average of claims, a less-volatile measure than the weekly figure, fell to 263,000 from 263,750 the prior week.
The number of people continuing to receive jobless benefits climbed by 63,000 to 2.1 million in the week ended Dec. 17, the highest since Sept. 10.
Nothing To Do, Nowhere To Go 0
Still under 300k, but up a bit.
(snip)
The four-week moving average increased to 263,750 last week, from 257,750.
The number of people continuing to receive jobless benefits rose by 15,000 to 2.04 million in the week ended Dec. 10. The unemployment rate among people eligible for benefits held at 1.5 percent. These data are reported with a one-week lag.
Nothing To Do, Nowhere To Go 0
Still under 300k.
Claims have stayed below the 300,000 level for 93 consecutive weeks, the longest stretch since 1970 and typically consistent with an improving job market.
(snip)
The number of people continuing to receive jobless benefits rose by 11,000 to 2.02 million in the week ended Dec. 3. The unemployment rate among people eligible for benefits held at 1.5 percent. These data are reported with a one-week lag.
Enjoy it while it lasts, folks.
Jobs Con Job 1
Alan Caron points out an uncomfortable truth. A snippet:
But the notion that campaign promises can revive the 20th century economy belongs on the pages of the National Enquirer at the supermarket checkout stand. It’s nonsense.
For every one manufacturing job we’ve lost to trade deals and government actions, we’ve lost seven to eight to machines, computers and robots. Governments don’t control technological progress, new inventions, time-saving devices and brilliant breakthroughs. Heck, government is usually the last place to employ those things. And technological progress is what’s costing us jobs. The sooner we understand that, the better off we’ll be.
What’s missing from the “jobs” equation is this: The wealth created by this “progress” is not being shared; it’s being hogged.
And, as George Orwell told us, some pigs are more equal than others.