Incomes Got Chewed Up by Inflation. Americans Spent Heroically on Goods, But Not on Services. Eviction Moratoriums & Forbearance Implicated
Consumers have made big changed to their spending patterns in response to inflation.
Read more...Category Archives: Economic fundamentals
Progressives Defy House Leadership on Vote on Biden $1.5 Trillion “Highway” Bill, Hold Line on Deal for $3.5 Trillion Package w/ Social Services and Climate Change Spending
The effort to get the House to rubber-stamp a $1.5 trillion Senate-dictated infrastructure bill has gone pear-shaped.
Read more...Keir Starmer’s Speech – Labour’s Best Thing Since Stale Bread
It’s not capitalism that has to change, the Labour leader told us. It’s you.
Read more...Michael Hudson and Thomas Piketty Debate Inequality, Debt, and Reform
Thomas Piketty and Micheal Hudson address “What is debt,” and also address inequality, rentierism, and reform in the West and China.
Read more...Vaccine-Only Mandates as a Manifestation of the Bizarre Civil War-Stoking Impulses of the Professional-Managerial Class in the US
Why the vaccine-focused approach is not likely to develop necessarily to the advantage of the Biden Administration.
Read more...Rapid Shift to Clean Energy Could Save ‘Trillions.’ But Corporate-Backed Groups Are Fighting the Transition in US Budget Bill
Even as evidence mounts that moving faster to clean energy sources would benefit businesses and the planet, the usual suspects fight back.
Read more...The European Energy Crisis Is About To Go Global
Rising energy prices in the US look set to go higher.
Read more...The Lasting Impact of the Covid Crisis on Economic Potential
A look at how Covid has damaged the economy and estimating the effect.
Read more...Record Level of American Men Foregoing College
Why are so many young men giving up on college?
Read more...Can China’s Outsized Real Estate Sector Amplify a Delta-Induced Slowdown?
Whether by accident or design, the implosion of China’s Evergrande will take some air out of its inflated real estate sector. What then?
Read more...Can the Economy Afford NOT To Fight Climate Change?
Yves here. If humans are fortunate enough merely to suffer a Jackpot rather than a full-bore collapse, perhaps future historians will try to make sense of why individuals and governments did pretty much squat to prevent climate change even when they recognized it really was well underway and would produce very bad outcomes. I imagine […]
Read more...Social Security COLA for 2022 To Be Near 5.8%, Could Match 2009, Biggest Since 1982
Seniors are destined to lose ground with cost of living increases, but how badly will they lag with 2022’s seemingly large boost?
Read more...Why the Rich Get Richer and Interest Rates Go Down
A wrongheaded paper from the Jackson Hole conference that depends on the loanble funds fallacy lets central bankers off the hook.
Read more...Wait and See: The Labor Market Implications of Economic Uncertainty
An increase in perceived uncertainty does indeed increase the value of waiting, thus reducing job creation.
Read more...Neoliberalism Is Dying – Now We Must Replace It
From taming Big Tech to competing with China, Western governments are retreatig from neoliberalism. But what comes next?
Read more...