Markets, Business, and the Economy

I bet I know how some jobs could be created….

Posted by on March 8, 2014 at 9:02 pm

More than half the nation’s public schools need to be repaired, renovated or modernized, a survey released Thursday found. Getting these schools in good condition would cost about $197 billion…. Since to the best of my knowledge there’s no Renovation Fairy who can complete a project by waving a magic hammer, that work would have […]

More thoughts on Minimum Wage

Posted by on March 6, 2014 at 4:45 pm

Many arguments against raising the minimum wage — and indeed, against helping those in low wage jobs — does boil down to victim blaming. That is, “it is the fault of the person making low wages that they make low wages and it is on them to do something about it.” Never mind the fact […]

A little reasoning

Posted by on February 20, 2014 at 4:35 pm

This post may seem a little dry, but bear with me. Let’s start with a basic premise: There are millions of square feet of retail, office, and light industrial space in this nation, and it all requires cleaning on a regular basis. I think everybody sane should be able to agree on this point. For […]

But the CEO might not be able to afford a second Bentley!

Posted by on December 8, 2013 at 1:57 pm

You’re going to have a hard time convincing me that raising wages a few dollars an hour is going to result in massive inflation in an environment where every fast food joint I can think of is highly profitable and introducing new low-price options on a regular basis. On the other hand, I can see […]

Financial Illiteracy

Posted by on August 16, 2013 at 7:13 am
Dollars and Sense: How Wise Are We With Money?

Many thanks to Cara Delany for this terrific infographic. Way back when I went to high school, I was required to take a trimester long class called Personal Finance. Among the topics were how to write a check and balance a checkbook, how to put together a family budget (this lesson might as well have […]

The economy sucks so bad they have to add Seinfeld to the calculations.

Posted by on August 1, 2013 at 5:47 pm

No joke! For the first time in four years, the Commerce Department will revise its estimates of U.S. gross domestic product — the value of U.S.-made goods and services — back to 1929. The biggest of the changes affect money spent on research and development and on artistic endeavors such as writing books or filming […]

Another Month, Another Mediocre Jobs Report

Posted by on July 5, 2013 at 5:00 pm

Sadly, I’ve written on this topic many times over the last 10 years. This time it’s the June employment report. I’ll let Bill McBride summarize it for you: The good news: This was the best first half for private employment gains since 1999.  Also hourly and weekly wages increased 0.4% in June, and hourly wages are […]

Prep Your Guest Room

Posted by on April 6, 2013 at 3:43 pm

Because if Mr. Obama gets his way, your parents will eventually have no choice but to move in with you. CNN/Money describes Chained CPI as “The Geeky Debt Fix That Might Work.” It will do no such thing. The assumption is that “CPI overmeasures inflation” when in fact, inflation has been systematically undermeasured for many […]

Medical Problem: the Law of Supply and Demand is Still in Effect

Posted by on April 2, 2013 at 5:19 pm

As we all know, all too soon we Americans will be required to purchase health insurance from the highly profitable corporations that got us into the health insurance “reform” debacle. Even people who should know better think we just have to have mandatory insurance to abolish pre-existing conditions because after all “people would buy insurance on […]

Do you think these two things might be related?

Posted by on February 26, 2013 at 5:00 pm

Fact one: Home prices are up nationwide. By how much depends on which index you like to use. Fact two: The number of available existing homes listed is down. Not down a little bit, but down about 17% in 146 metro areas (I think that qualifies as “nationwide”) and down over 25% in a couple dozen […]