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Progressive/Libertarian: The Alliance That Isn't

(June 22, 2017 02:01 PM, by Bryan Caplan) My one big disagreement with Ed Glaeser's great piece on housing deregulation is when he says:Reforming local land use controls is one of those rare areas in which the libertarian and the progressive agree. The current system restricts the freedom... (27 COMMENTS)

A case against austerity

Some Tories say voters are tired and weary of austerity. The voters are right. Let’s start with the sums. There’s a simple equation to tell us what primary budget balance we need to stabilize the debt-GDP ratio (the primary balance....

Oil Rigs: "Not dead yet!"

A few comments from Steven Kopits of Princeton Energy Advisors LLC on June 23, 2017:• Total US oil rigs were up 11 to 756• Horizontal oil rigs were up a whopping 12 to 648• Goodness knows the underlying dynamics, but apparently the rig operators have not received the oil price crash memo. Show More Summary

A few Comments on May New Home Sales

New home sales for May were reported at 610,000 on a seasonally adjusted annual rate basis (SAAR). This was above the consensus forecast, and the three previous months combined were revised up. Overall this was a solid report.Sales were up 8.9% year-over-year in May.Earlier: New Home Sales increase to 610,000 Annual Rate in May. Show More Summary

New Home Sales increase to 610,000 Annual Rate in May

The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 610 thousand. The previous three months combined were revised up."Sales of new single-family houses in May 2017 were at a seasonally adjusted annual rate of 610,000, according to estimates released jointly today by the U.S. Show More Summary

Friday: New Home Sales

From Matthew Graham at Mortgage News Daily: Mortgage Rates Sideways to Slightly LowerMortgage rates have been so little-changed in recent days that yesterday's coverage wouldn't need to be changed in order to apply perfectly today....The...Show More Summary

Pure Class Warfare, With Extra Contempt

Paul Krugman: Pure Class Warfare, With Extra Contempt: The Senate version of Trumpcare – the Better Care Reconciliation Act – is out. The substance is terrible: tens of millions of people will experience financial distress if this passes, and tens...

Cyber attacks: An economic policy challenge

Cybersecurity is becoming a vital concern for the functioning of a modern economy. This column argues that the threat of cyber attacks should be tackled economy-wide, with economic policies aimed at overcoming the externalities and information asymmetries that lead to suboptimal protection choices on the part of private agents. Show More Summary

In Long Run, There’s No Such Thing as an Einstein Investor

Robert Shiller: In Long Run, There’s No Such Thing as an Einstein Investor, NY Times: There are no easy answers in investing. It is tempting to replicate a successful strategy — one created by an outstanding investor, like Warren Buffett,...

NBA GMs and Fed Governors

Here is Nate Silver, discussing the growing accuracy of NBA mock drafts: Mock drafts — and rumors/reporting about who would go where — were shockingly accurate this year. There aren’t a lot of dumb teams in the NBA anymore, and it’s getting harder to find picks that come out of nowhere. I suppose one could […]

The Secret Republican Plan to Unravel Medicaid

Bad enough that the Republican Senate bill would repeal much of the Affordable Care Act. Even worse,...

Testimony before the U.S. Department of Commerce on aluminum imports

EPI’s Robert Scott delivered the following testimony to the Department of Commerce hearing on Section 232  Investigation of Aluminum Imports on June, 22, 2017. 

Shifting Dollars From Poor to Rich Is a Key Part of the Senate Health Bill

The bill is aligned with long-held Republican values, jettisoning Obamacare taxes. But it would also reduce funding for the care of low-income Americans.

No Backing Sentiment

When the price of oil first collapsed at the end of 2014, it was characterized widely as a “supply glut.” It wasn’t something to be concerned about because it was believed attributable to success, and American success no less. LowerShow More Summary

New Home Sales Rise 2.87% in May (To 1995 Levels), Median Home Prices Decline 3%

After a bad showing in April, new home sales rebounded in May and rose 2.87% to 619K units SAAR. The post New Home Sales Rise 2.87% in May (To 1995 Levels), Median Home Prices Decline 3% was originally published at The Wall Street Examiner. Follow the money!

View from the Lake: Stress Tests & Tight Lines

The IRA is writing today from Camp Kotok, which is held each year at Leen’s Lodge in Grand Lake Stream, Maine.  We are in Washington County, which is on the border of New Brunswick, Canada, and about 200 miles north of Bangor up Rt 9. ...Show More Summary

President Trump Is Repeating the Same Social Security Mistake That Obama Made

The annual Social Security Administration's report is long overdue. And there's no word on when it will be released, leaving the public and the pundits guessing about projections and analyses. The post President Trump Is Repeating the Same Social Security Mistake That Obama Made was originally published at The Wall Street Examiner. Follow the money!

Markets Flat as President Trump Reveals Comey Tapes Don’t Exist

In Dow Jones news today, stock prices were flat as oil prices remain extremely volatile. The post Markets Flat as President Trump Reveals Comey Tapes Don’t Exist was originally published at The Wall Street Examiner. Follow the money...

Report from the NFF

It is now that time of year when I am enjoying the Nantucket Film Festival. My wife and I today saw The Big Sick. Despite the not very enticing title, we loved it. The film is based on the real-life romance of the two screen writers, emphasizing the difficulty of bridging cross-cultural expectations. Show More Summary

2:00PM Water Cooler 6/23/2017

By Lambert Strether of Corrente Readers, because it took me fifteen minutes of router-wrangling to get going this morning, I didn’t get to all the political news, if news is the word I want, that I wanted to cover. I’ll have some UPDATEs shortly. –lambert UPDATE The UPDATE’s are done; now for “Obama’s Secret Struggle…” […]

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