On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.
Sometimes though, one cannot say it better but miss those who did.
Must Read #1
VoxEU has a post we've hit upon many times, but this is based on new, in depth research. In Trade and labour income risk in the US: Evidence from longitudinal data, they discover a permanent income risk reduction directly correlated to the import penetration in that occupational sector.
On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.
Sometimes though, one cannot say it better but miss those who did.
Must Read #1
In reference to this WaPo Bio on Neel Kashkari, the London Times pulls out some nice little tidbits. The $700 Billion number to ask Congress for, later known as TARP, was literally made out of thin air. They had no idea in reality how much money they needed.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Taking a break from the never ending frustration of corruption in U.S. politics and obtaining real financial reform, let's move to a currently low demand commodity, oil. This CBC documentary, from 2007, explores China's new high oil demand. China's economy and especially it's industrial output surged 19.2% yr/yr, so one can be rest assured oil soaring prices and global demand eventually will return.
Today the House passed H.R. 4173: Wall Street Reform and Consumer Protection Act of 2009. The vote was 223 to 202 with 27 Democrats joining all of the Republicans in a no vote.
The actual bill is in the Congressional Record, with the latest Congressional actions (not real time).
Here is a list of amendments. The current House Roll Call vote is here.
The House allowed 36 amendments for debate, which severely limits the real number of amendments up for consideration. It appeared to be a strategic move to block the flurry of Republican amendments.
On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.
Sometimes though, one cannot say it better but miss those who did.
Must Read #1
A new research piece, by Asha G. Bangalore, Northern TrustGlobal Economic Research, states that just to maintain the current unemployment rate, the United States must create between 86,600 and 140,000 jobs per month. It's due to the average and then a slightly below average labor force growth rate of the last 20 years. So next time you see someone cheering that the U.S. only lost 11,000 jobs this month, consider these numbers. Also next time you see someone saying the United States should ignore immigration factors in the current labor market situation....think of these numbers.
The Panel concluded that TARP was an important part of a broader government strategy that stabilized the U.S. financial system. It is apparent after 14 months, however, that significant underlying weaknesses in the financial system remain.
[TARP]created an implicit guarantee for major financial institutions that distorts pricing for capital and encourages excessive risk-taking. Unwinding this guarantee poses a difficult long-term challenge.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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