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Slightly Left of Center Economics Blog
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Is Piketty Wrong About British And Swedish Wealth?
The U.K. has higher top 1% and top 10% shares but, evidently, a lower Gini coefficient.
Obvious And Outrageous Defects Of Our Economic System… Keynes
The more the Fed postpones raising of the Fed rate, the chances increase that it won’t rise at all before the next recession. Worry will mount about global growth.
Is Tim Duy Seeing Fed Rate Behind Curve?
The Fed should have started raising the Fed rate very gradually about 2 years ago, on the order of 25 basis points every 4 to 6 months.
Are Poor People Consuming More Than They Used To? Six Graphs
Poor people have gained a little bit of ground in absolute terms. But they’ve lagged way behind the rest of the country.
New Government Accounting Standards To Require Subsidy Disclosure
In a move with potentially enormous implications, the Government Accounting Standards Board will soon issue new draft rules for Generally Accepted Accounting Principles (GAAP) for governments.
Persistently Low Fed Rate … Financial Instability Is Not The Problem, Decreased Net Social Benefits Is
Pointing to financial instability is pointing in the wrong direction. It is better to point toward net social benefits. A persistently low Fed rate will lead to decreased net social benefits.
Stocks React To FOMC Minutes… Happy That Profits Protected, But Unaware That Net Social Benefits Will Decrease
Why would the stock market shoot up on bad news? The probability of the Fed maintaining the effective Fed nominal interest rate at the zero lower bound increases.
Integral And Indispensable To Regular Duties - Your Government Says This Defines If You Get Paid
From a Salon interview with Catherine Ruckelshaus, general counsel and program director for the National Employment Law Project comes this case being argued today in the Supreme’s Court: Integrity Staffing Solutions, Inc. v. Busk
Dow Moving Sideways… Stronger Headwinds Into 2015
Dow will orbit around the 16,800 level and not go much higher from there.
The Unemployment Rate As A Leading Indicator For Wage Growth
One of the most pronounced issues in the US economy generally is the stagnation of wages since the turn of the Millennium, and specifically the lack of wage growth since the current economic expansion began over 5 years ago.
Carmen Segarra, Secret Tapes, And Goldman Sachs
Segarra was an experienced attorney who had spent her entire career working in banking in the corporate counsel’s office of large financial firms, most recently as a senior counsel at Citi.
Boeing Moving 2000 Jobs From Washington State
I learned that Boeing is going to move 2000 skilled jobs away from Washington state, despite just receiving $8.7 billion (with a B) in subsidies for the years 2025-2040.
Gail Collins’ Don’t-Miss Column On Social Security—And On Joni Ernst
There was this at the Senate debate in Iowa on Sunday: “I will fight hard to protect Social Security and Medicare for seniors like my mom and dad because our Greatest Generation has worked so hard for the American dream for our families,” said Republican Joni Ernst.
Apple Set To Lose Billions In EU State Aid Case
The European Commission has decided to open a formal investigation into whether Apple received illegal subsidies from Ireland going as far back as 1991. The FT quotes “people involved in the case” as saying that this can cost Apple billions of euros.
Again: Saving Does Not Increase Savings
“Saving” and “Savings” seem like simple concepts, but they’re not.
The Pernicious Myth Of “Patient Savers And Lenders”
Banks are obviously different from households. But I think explaining two key differences goes far towards explaining why “endogenous money” theory — often pooh poohed as either confused or obvious — is important to economic thinking.
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