Miscellaneous

Paul Volcker in Memoriam

Update 403 — Paul Volcker in Memoriam  Paul Volcker, Federal Reserve Chairman from 1979 to 1987, advisor to four U.S. presidents, policymaker and public servant par excellence, died on Sunday at 92. He will be remembered best for working to curtail the worst inflation crisis in the nation’s history and for the Volcker Rule, a …

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Penny Lanes

Update 398 • Penny Lanes:  Econ. Positionsand Left/Center/Right Turns in Atlanta Debate Today marks 52 years since the BBC informally banned the song “I Am the Walrus” by the Beatles for its sexually suggestive lyrics.  Paul was not impeached. But there was no such controversy about this week’s Democratic debate in Atlanta, where the debate …

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Progressive Strategy Summit 2019

Update 392: Progressive Strategy Summit 2019 Domestic Econ. Policy Consensus Emerge Last week, the Congressional Progressive Caucus Center and Progressive Caucus Action Fund hosted the Progressive Strategy Summit in Washington.  The event brought together members of Congress, grassroots organizers, and policy and political strategists. Attended by over 500 people, the Summit reflected on progressive achievements …

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Recessionary Indicators, Pt. 2

Update 390 — Recessionary Indicators, Pt. 2What the Best 8-Balls Say about the Economy While much of the political world is preoccupied with constitutional concerns, the economy also continues to confound.  Some indicators point to continued expansion, record low unemployment, and the stock market close to record highs. Others point ominously at the next recession …

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Recessionary Indicators, Pt. 1

Update 389 — Recessionary Indicators, Pt. 1What the Economic Tea Leaves Say Today  Over the next two updates, we will look at macroeconomic indicators of the end of the current post-crisis expansion — leading vs. lagging, from coal mine canaries, to red herrings, to black swans.   The political implications of an economic reversal of fortune …

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Shareholders vs. Stakeholders?

Update 377: Shareholders vs. Stakeholders?Cos. Pay Lip Service, but Not a Cent in Taxes Last week, the CEOs of the nation’s largest corporations signed a statement redefining “the purpose of a corporation.”  Now, corporate management should serve not only the company’s owners, but other stakeholders (employees, customers, the public) as well.   Any owner ever sued by …

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Multiemployer Pension Bill and Its Prospects

Update 374: Worker Retirement Security:Multiemployer Pension Bill and Its Prospects The legislative prospects for any big-ticket economic policy bill that is not “must-pass” (such as a budget) clearing Congress and getting signed by the White House seem remote right now.  But on July 24, the Rehabilitation for Multiemployer Pensions Act, H.R. 397, passed the House in a …

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Student Loan Debt Bill in Sight?

Update 372: Student Loan Debt Bill in Sight?Another Academic Year, Contact the Cashier The $1.6 trillion owed by tens of millions of students and their parents in total education loans outstanding ramifies throughout the economy.  Already it means younger people aren’t getting married, entering the job market, starting businesses, saving for retirement as quickly or as …

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Condition of the Labor Market

Update 367 — Condition of the Labor Market:Minimum Wage, Other Workers Due a Raise Tomorrow morning, the U.S. House will vote on the first increase in the federal minimum wage since 2009.  During that time, inflation has increased by 20 percent, an increase workers haven’t seen a penny of — in terms of wages.   Conventional economic wisdom …

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