We have some economic news out today. 453,000 filed initial unemployment claims, and the second quarter GDP estimate is 1.7 percent growth. The news people are practically ecstatic over this, proclaiming it’s good news. The […]
Read moreI get the following question, or something like it all the time. This time it came by e-mail. I thought I’d post my response. Here’s the question: When looking at the economy, unemployment, and job […]
Read moreCalifornia has pending legislation, AB 2529, to require an economic impact analysis of proposed new regulation. Its opponents correctly point out that AB 2529 will delay and increase the cost of new regulation. There will […]
Read moreCalifornia’s unemployment rate edged up from 12.3 in July to 12.4 percent in August, the Employment Development Department reported today. This was driven more by changes in jobs, (losses), rather than changes in labor force. […]
Read moreThe Fed’s national wealth report for the second quarter is out today. For a New-Classical Macroeconomist, this is one of the most important data releases. Wealth is one of the most important theoretical drivers of […]
Read moreLast night we had a faculty meeting. One of the issues that came up was parking congestion. The University is growing, and this year there have been some problems finding parking spots. More parking was […]
Read moreHere‘s Bloomberg’s report on today’s data release. One paragraph has caused the Drudge Report to run the headline “GOV’T MAKES IT UP: JOB NUMBERS ‘ESTIMATED’ FOR WEEK…” (Caps by Drudge). Here’s the paragraph: For the […]
Read moreMankiw has a post on the administration’s proposed changes in the tax treatment of investment. As usual, he is right on. The proposed treatment amounts to a zero interest loan, at a time when interest […]
Read moreCalifornia Watch has a piece on the chief justice of the Ninth Circuit Court of Appeals. Seems he wants poor judges. I have a problem with that. Judges come from the lawyer pool, and there […]
Read moreThings don’t look so good for Harrisburg PA. Here’s what CNN has to say: The capital city Pennsylvania is broke and will be skipping this month’s multi-million dollar bond payment.On Sept. 15, Harrisburg, Pa., was […]
Read moreThe August employment report is out this morning. The United States unemployment rate rose slightly from 9.5 to 9.6 percent, driven more by labor force gains than employment losses. The non-farm job losses occurred in […]
Read moreYesterday, the Los Angeles Times had an article on the decline of illegal immigration into the United States. It is unpopular to say this, but this is bad. There is lots of evidence that immigrants, […]
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