Archive | Economy

If This Is a Good Jobs Report, Just Shoot Me

Reposted from The Huffington Post ******** If This Is a Good Jobs Report, Just Shoot Me Curtis Ellis | July 8, 2013 | Huffington Post The June jobs report shows we lost 6,000 jobs in manufacturing, but added 9,000 in garden supply stores and 19,000 at amusement parks and casinos. Is this…

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The Surprisingly Swift Decline of U.S. Manufacturing Employment

This December 2012 paper – entitled The Surprisingly Swift Decline of U.S. Manufacturing Employment -  from the National Bureau of Economic Research shows how the China trade deficit has caused our manufacturing employment decline.  The authors are Justin Pierce from the Fed and Peter Schott from the Yale School of Management….

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Austerity Won’t Work if the Roof Is Leaking

Reposted from The New York Times ******* Austerity Won’t Work if the Roof Is Leaking Robert H. Frank | July 6, 2013 | NY Times I RECENTLY spent a week in Berlin, where the entire city seemed under construction. In every direction, cranes and other heavy equipment dominated the landscape….

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Morici: 7.3.13: Modest Jobs Creation amid Sluggish Growth

Modest Jobs Creation amid Sluggish Growth Friday, forecasters expect the Labor Department will report the economy added 161,000 jobs in June. This is in line with the pace of recent months but hardly enough to lower unemployment down to acceptable levels. In the first quarter, GDP was up only 1.8…

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Balanced trade = explosive U.S. growth

The last paragraph of Peter Morici’s article below should be the first.  It is the direct rebuttal to the pro-trade deficit crowd in our government, at the U.S. Chamber of Commerce, and the Club for Growth. Cutting the trade deficit in half would raise long-term U.S. economic growth by one…

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Too much of a good thing – financial industry

Many CPA members dislike the excessive growth of the financial industry in relation to production of food and goods.  Bruce Bartlett, formerly of the Reagan administration, now gives some meat to those bones. The issue is “financialization”, the growth of finance as a share of GDP. First, financial services (insurance,…

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Manufacturing sheds 8,000 jobs in May 2013; 21,000 factory jobs lost in past three months.

Reposted from the Alliance for American Manufacturing Blog ***** Manufacturing sheds 8,000 jobs in May 2013; 21,000 factory jobs lost in past three months. AAM blog  |  June 7, 2013 Manufacturing sheds 8,000 jobs in May 2013; 21,000 factory jobs lost in past three months. #AAMeter Plummets; President Obama’s Second Term…

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Obama and Xi at the Summit

Reposted from the blog of Peter Morici ***** Obama and Xi at the Summit June 6, 2013  |  Peter Morici As Presidents Obama and Xi Jinping meet this weekend, China’s aggressive actions and halting cooperation on a growing list of issues undermine the U.S. economy and national security. Diplomacy has…

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Obama Administration Doesn’t Get “Global Rebalancing”

In furtherance of my campaign to get government to recognize net trade and prioritized balanced trade or net exports… The 2013 Economic Report of the President is the recent such report which is written by the Chair of Council of Economic Advisers.  It presents the Administration’s domestic and international economic…

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Fed Reserve Governor Shocked by Experiencing Jobs in the Wild

The wacko free trader economists stare at their economic models gleaned from some past textbook and assume it is an accurate picture of the world.  They think we can be a society that relies upon services and advanced tech.*  And we can jettison a good part of the domestic supply…

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