The Labor Department reported the U.S. economy created 126,000 jobs in March. This was a sharp slowdown from the 290,000 average over the prior three months. This relatively weak jobs report led many economic analysts to comment that the economy may not be as strong as they had believed. This reassessment is welcome, but it really raises the question of …
Inequality or Living Standards: Which Matters More? – Max Roser, Brian Nolan, Stefan Thewissen
For many years inequality in income and wealth received little attention in public debate and was only a minority interest in the economics profession. GDP per capita was widely considered to be a satisfactory indicator of economic prosperity. Yet, inequality has now become the focus of remarkably wide-ranging attention, from Davos and the State of the Union address to academic …
One Lethal Loophole in the TPP
After spending five long years negotiating the Trans-Pacific Partnership trade agreement, the Obama administration is now pushing for the fast-track authority from Congress that would make it easier to get the final deal approved. One serious problem is that the TPP is not likely to include rules on currency, which is leading lawmakers from both parties to consider opposing the …
If Anyone Doubts That We Are in a Stock Market Bubble, Show Them This Article
The higher financial markets rise, the harder they fall. By any objective measurement, the stock market is currently well into bubble territory. Anyone should be able to see this – all you have to do is look at the charts. Sadly, most of us never seem to learn from history. Most of us want to believe that somehow “things are …
Chemical Exposure Linked to Billions in Health Care Costs
Exposure to hormone-disrupting chemicals is likely leading to an increased risk of serious health problems costing at least $175 billion (U.S.) per year in Europe alone, according to a study published Thursday. Chemicals that can mimic or block estrogen or other hormones are commonly found in thousands of products around the world, including plastics, pesticides, furniture, and cosmetics. The new research estimated …
The Economy Has Not Recovered And Is Again On Its Way Down
The first quarter GDP will be negative unless the figure is again manipulated and faked. I am looking at two charts. One is the Federal Reserve Bank of Atlanta’s forecast. During the past 30 days, the Atlanta Fed’s forecast has dropped from 2.3% first quarter growth to 0.3 percent.https://www.frbatlanta.org/cqer/researchcq/gdpnow.cfm The other chart is the Blue Chip consensus. This is Wall …
Poor Countries To Need $400bn A Year To Fight Climate Crisis
Poor countries should receive between US$400 billion and US$2 trillion per year from rich countries by 2050 to help them cut greenhouse gas (GHG) emissions and fight climate crisis, finds a new paper published on March 16, 2015 by the Grantham Research Institute on Climate Change and the Environment and the ESRC Centre for Climate Change Economics and Policy at …
Trade Deficit Drops To Enormous, Humongous Level In January
The U.S. Census Bureau reported Friday that the January goods and services trade deficit was $41.8 billion in January, down $3.8 billion from $45.6 billion in December (which was revised down a billion). This is a drop of 8.3% from the prior month, which was a two-year high. Both imports and exports fell. Imports of goods and services fell 3.9% to $231.2 …