Bloomberg’s Plan for Addressing Economic Inequality: not a wealth tax A bit ago (Jan 8, 2020), the New York Times described Michael Bloomberg’s plan1 for addressing the income and wealth inequality in the United States that has been a constant topic of discussion by Democratic candidates. Briefly, as with the robber barons of Teddy Roosevelt’s age, […] [Read More...]
The Best of the Funny Economist: Marshall Gramm and Randy Parker have a new friend.
SOURCE: Funny Economist – Randall Parker’s Completely Serious Macroeconomics Blog – Read entire story here.
How to disguise a really big lie? Put it on a bus.
The Tories, and particularlytheir leader, lie all the time. It is quite shameless. But there is a corollary to this. If your whole campaign is based on one big huge lie, make it your main slogan. Because, even today, many voters still think you wouldn’t dare lie about something so important. Unfortunately recent history suggests otherwise. We all remember the £350 million for the NHS lie in the 2016 referendum. It was famously on a bus. Except it seems that a good part of the voting population has forgotten the reason that slogan is notorious. It was a huge lie, the opposite of the truth. The have forgotten because the Tories have a new bus with a new slogan that a lot of voters appear to believe. In … [Read More...]
Squawk: Dollar Bulls must be patient Selling pressure will be overcomeby…
Dollar Bulls must be patient Selling pressure will be overcomeby Stephen Pope Selling of the U.S. Dollar Index on Friday may persist through Monday As the week pushes on this will yield to new… [Read More...]
Is Progressive Idealism Self-Defeating?
Like many liberals, I am encouraged by the new energy of progressives and the growing political support for progressive causes. But I also share the common worry that the idealism of progressives is in danger of becoming self-defeating (see, e.g., Judis and Edsall for two recent discussions). That’s a problem, because the stakes are high […] [Read More...]
Weekly Indicators for January 13 – 17 at Seeking Alpha
by New Deal democrat Weekly Indicators for January 13 – 17 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. The short term forecast has been volatile recently – and was again this week. As usual, clicking over and reading rewards me a little bit for the effort I put in [Read More...]
Journalists’ own pact with the devil
While Dominic Cummings is no genius, he does have a good understanding of how the UK media works, and therefore how to manipulate it. There are many ways to do this, but one of the most obvious is to use privileged access in return for uncritical coverage. This is how it works. One of the prizes journalists most aspire to is being first with the news. To get an ‘exclusive’ story. In the political world the biggest generator of news stories is the government. This gives the government the potential to act as the devil to which journalists can sell their souls to. The value of access increases when the government reduces the amount of information it supplies for free in other places like parliament. The price … [Read More...]
A day at Del Mar.
Check out @ToddTVG’s latest “Play With The Pros” segment from Del Mar! pic.twitter.com/8QQp68Bf55— TVG (@TVG) August 26, 2016 [Read More...]
Squawk: Macroeconomic Update by Gavin Pannu PM May struck a defiant…
Macroeconomic Update by Gavin Pannu PM May struck a defiant tone over weekend. 42 Tory MPs provide letter of no confidence PM May is set to head to Brussels to secure the deal Earning season comes to… [Read More...]
Events at Davos, a Child Meets a Scholar (in that Order)
Seriously, I would not fit there; but, I am smart enough to keep my mouth shut, listen, and learn. Apparently Trump is not. Commenting on Elon Musk: “I was worried about him, because he’s one of our great geniuses, and we have to protect our genius,” Trump said of Musk. “You know, we have to […] [Read More...]
The Democratic Debate in Des Moines: progressive candidates on means testing versus universality
The Democratic Debate in Des Moines: progressive candidates on means testing versus universality Dana Chasin at 2020 Vision does a good job of encapsulating key issuesthat surface in the Democratic debates. Let’s get this out first: most listeners will admit that the debates seem both too long and too short, as mentioned on Stephen Henderson’s […] [Read More...]
Why you should vote tactically, and how to do it.
In this election we have a choice. We can choose a party led by an inveterate liar, which is happy to appeal to the racist or xenophobic vote, happy to take us out of the EU with no deal with all the consequences for public services that entails, happy to see ever longer waiting times for GPs and A&E, happy to see more homeless people on the streets and more food banks.*** Instead we can choose a hung parliament with a Labour minority government that may not even be led by Corbyn, with their power curtailed by the smaller parties, including the Liberal Democrats, that can actually do something about the problems we face. But we can only make that choice by voting tactically. But … [Read More...]
Rhodes College horse racing lessons and handicapping.
Lesson 1 – Lessons from horse race gambling.Lesson 2 – Handicapping [Read More...]
Macro Monday week 32: US & China inflation RBA & RBNZ
In this webcast Saxo’s global macro strategist Kay Van-Petersen examines the big issues for the week and looks ahead for potential market moves. [Read More...]
Catching up: November JOLTS report
Catching up: November JOLTS report Let me catch up on some data I didn’t examine last week: the November JOLTS report. It decomposes the jobs numbers into a number of metrics, but is less than 20 years old, so only covers one full business cycle, so is of limited forecasting use. To reiterate, here is […] [Read More...]
Open thread Jan 21, 2020
The week ahead in macro — #SaxoStrats
Saxo’s global macro strategist Kay Van-Petersen examines the big issues for the markets in a busy week ahead in this brief rundown. [Read More...]
Rep Jayapal and Sen Sanders Have Introduced Medicare For All Bills: Part 2
Part 2 discusses why we must have the government issue payments to hospitals, clinics, etc. and also set the budgets for hospitals and this is how they are paid rather than billing multiple insurers and also patients. There is also only one payer. The later part is what I have been pounding on repeatedly. Forget […] [Read More...]
Evidence and the persistence of mistaken ideas: the case of house prices
Another paper, this time from the Bank of England written by former MPC member David Miles and Victoria Monro, shows that the rise in house prices we have experienced since 1985 is mainly the result of lower real interest rates. The other, less important, driver is household income. Those two effects together can account for all the increase in house prices relative to inflation. The increase in house prices is not the result of a shortage of new houses. Those who remember two earlierpostsof mine will know of my own conjecture along similar lines. More recently Ian Mulheirn has championed this theory: herehe is commenting on an apparently contrary view from Paul Cheshire. The importance of real interest rates to house prices has been understood for a long … [Read More...]
Squawk: With Oil Keep Looking at Trade Data and Newsby Stephen…
With Oil Keep Looking at Trade Data and Newsby Stephen Pope WTI boosted by two clear driving forces trade and supply Any recovery in trade relations between the U.S. and China not until end of… [Read More...]
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