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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…” […]

Can EU Actors Keep Using Common Law After Brexit?

The widespread use of English law in financial contracts poses yet another set of tricky post-Brexit issues.

Mass Incarceration’s Dangerous New Equilibrium

On the shameful origins of and incentives behind mass incarceration.

Donald Trump and Theresa May Give U-Turns A Bad Name

A few weeks ago Donald Trump set a record that I assumed was unassailable; Theresa May has since sailed past it with ease. The leaders of the US and the UK have become so proficient at changing direction that “U-turn” no longer seems adequate. Donald and Theresa are spinning policy doughnuts. Mr Trump has a […]

Pure Class Warfare, With Extra Contempt

Republicans bet that tribal voters will support politicians who ruin their lives.

Matt Bruenig: How Many People Will Obamacare and AHCA Kill?

Subjecting Obamacare to the same measuring stick that the Center for American Progress applied to the ACHA.

Some People “Would Rather Have 1st Class Seats on the Titanic Than Change the Course of the Ship”

Why it is necessary to depose Democratic party leaders like Pelosi and Schumer to have any chance of winning class and climate change wars.

2:00PM Water Cooler 6/22/2017

Today's Water Cooler: NAFTA 2.0 bipartisan, Senate AHCA draft, Ossoff #FAIL, Russian hacking, leading indicators, Amazon v Walmart, bitcoin

CFPB Lambastes Student Loan Servicers for Thwarting Public Servant Debt Relief

CFPB report details errors and practices of student loan servicers that will bar borrowers from qualifying for debt forgiveness.

U.S. Demographics: The Millennials Take Over

From the Census Bureau The Nation’s Older Population Is Still Growing, Census Bureau ReportsNew detailed estimates show the nation’s median age — the age where half of the population is younger and the other half older — rose from 35.3...Show More Summary

The lack of demand for equality

Why do people tolerate inequality? A new paper by Karl Ove Moene and colleagues provides a new explanation: it’s because a small role for merit in income inequality causes a big drop in demand for redistribution. They showed this in...

Kansas City Fed: Regional Manufacturing Activity "Expanded Further" in June

From the Kansas City Fed: Tenth District Manufacturing Activity Expanded FurtherThe Federal Reserve Bank of Kansas City released the June Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal...Show More Summary

Black Knight: Mortgage Delinquencies Decreased in May, Foreclosures at 10-Year Lows

From Black Knight: Prepayments (historically a good indicator of refinance activity) jumped 23 percent month-over-month, reaching their highest point so far in 2017• Prepayments (historically a good indicator of refinance activity) jumped...Show More Summary

Weekly Initial Unemployment Claims increase to 241,000

The DOL reported:In the week ending June 17, the advance figure for seasonally adjusted initial claims was 241,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 237,000 to 238,000. Show More Summary

Fed's Labor Market Forecasts Don't Make Sense

Tim Duy: Fed's Labor Market Forecasts Don't Make Sense, by Tim Duy: The Federal Reserve’s unemployment forecast doesn’t add up. It is neither consistent with the median of policy makers’ growth forecasts nor consistent with Chair Janet Yellen’s description of...

America Is a Tough Place for Older People. The GOP Health Care Plan Will Make It Much Worse.

One of the expressed intentions of Republicans’ efforts to repeal and replace Obamacare is to undo some of the age-related distribution inherent in the system. Today, healthy young people pay more so that older, less-healthy people don’t...Show More Summary

The Klondike Kickback: How the Senate Health Care Bill Screws Blue States on Medicaid While Sparing Alaska

Buried deep in the Senate health care bill is a provision that is designed to penalize Northeastern states that have traditionally run generous Medicaid programs while carving out special exemptions for sparsely populated Western states like Alaska, which are conveniently represented by Republicans. Call it the Klondike kickback. Show More Summary

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