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Weekly Initial Unemployment Claims decrease to 225,000

The DOL reported:n the week ending December 9, the advance figure for seasonally adjusted initial claims was 225,000, a decrease of 11,000 from the previous week's unrevised level of 236,000. The 4-week moving average was 234,750, aShow More Summary

Thursday: Retail Sales, Unemployment Claims

From Matthew Graham at Mortgage News Daily: Mortgage Rates Quickly Lower After Inflation Data and FedMortgage rates fell fairly quickly this afternoon following the Federal Reserves updated economic projections. [30YR FIXED - 4.0%].... Show More Summary

Tech Giants Trying to Use WTO to Colonize Emerging Economies

Tech titans like Google and Apple seek to create a "global" regime to prevent developing economies from protecting their companies or data.

The Crisis Ahead: The U.S. Is No Country for Older Men and Women

Yves here. I imagine many readers are acutely aware of the problems outlined in this article, if not beset by them already. By any rational standard, I should move now to a much cheaper country that will have me. I know individuals who live most of the year in third-world and near-third world countries, but […]

Student Loan Defaults Approach 5 Million….Using a Very Permissive Definition of “Default”

The latest sighting on the student loan front is not pretty, and would be even uglier if the right metrics were used.

Now’s the Perfect Time to Buy Gold Stocks for 2018 – Here’s Our Pick

Some pundits will tell you that gold is dead, but the market has a different point of view. Let's cut right to the chase - gold is going higher in 2018, according to Money Morning Resource Specialist Peter Krauth. The post Now’s the Perfect Time to Buy Gold Stocks for 2018 – Here’s Our Pick was originally published at The Wall Street Examiner. Follow the money!

Bad Case of Unaffordable Housing: Shelter CPI Rises >2x Core Inflation (“Inflation” Cools Ahead of FOMC Meeting)

According to the SF Fed’s calibration of the Taylor Rule, the Fed Funds Target rate should be 6.13% The post Bad Case of Unaffordable Housing: Shelter CPI Rises >2x Core Inflation (“Inflation” Cools Ahead of FOMC Meeting) was originally published at The Wall Street Examiner. Follow the money!

Picture of the Day: "The charitable giving value of people's best friend"

Jacob Hochard (Department of Economics, ICSP), Greg Howard (Department of Economics), Kayla Clark (School of Art and Design), John Whitehead (Visiting Troxler Professor Department of Economics) and Yuanhao Li (Norwegian School of Economics) partnered with the Salvation Army during the holiday season to conduct a local field experiment. The Troxler-funded...

Sierra Club quote of the day

From POLITICO's Morning Energy: Meanwhile, Democrats and liberal groups asked for the tax bill to be put on hold until Alabama Democrat Doug Jones is sworn in. "There should be no votes on the despicable GOP tax scheme or other dangerous efforts to put the profits of corporate polluters and...

Natural disasters and net-migration? @mattkahn1966

I feel the earth move under my feet, I feel the sky tumbling, a'tumbling down... (Quakes and Fires...): For the half-century after World War II, California represented the epitome of middle-class America on the move. As people poured into the state in search of good weather and the...

Inequalities that matter, & don't

Jamie Whyte asks: A rich man finds it easier to buy a car than a poor man does; a witty man finds it easier to seduce a woman than a dull man does. If the former is an unfair inequality...

Wait, How Did Trump "Make Clear His Desire to Keep Low- and Middle-Skilled Jobs in this Country?"

This line inexplicably appeared in the middle of a NYT article about a contract between the Communications Workers of America and AT&T which provides job protection and pay increases for 20,000 workers. It also apparently includes aShow More Summary

Brad DeLong and Charlie Deist on Austrian Economics

Charlie Deist: [Brad DeLong on Austrian Economics]( Charlie Deist: Good morning everyone, and welcome to the Bob Zadek Show. I’m Charlie Deist, Bob’s producer, once again filling in for Bob, who will be back next week to discuss the topic of morality and capitalism. Show More Summary

Tyler Cowen and the Four Blind Men

(December 13, 2017 04:24 PM, by Scott Sumner) Tyler Cowen has an excellent new video out that looks at four schools of thought in business cycle theory, with application to the Great Recession. I agree with most of the specifics in the video, but differ in how to... (6 COMMENTS)

The Truth Hurts: Public Choice and Liberty

(December 13, 2017 03:11 PM, by Bryan Caplan) Reagan was worried that Americans were losing their love of liberty. Here's my depressing talk arguing that Americans love liberty as a vague platitude, but are deeply statist on almost all particulars.I am only a messenger.... (2 COMMENTS)

Why Turnout Shifts in Alabama Bode Well for Democrats

Black voters surged, and Trump’s less educated version of the Republican coalition has eroded the G.O.P.’s traditional turnout edge.

FOMC Projections and Press Conference Link

Statement here.Yellen press conference video here.On the projections, projections for GDP in 2017 are near the top of the September range. GDP projections of Federal Reserve Governors and Reserve Bank presidents Change inReal GDP 1 2017...Show More Summary

2:00PM Water Cooler 12/13/2017

Today's Water Cooler: WTO, net neutrality, Jones, Franken, Amazon, The Fed, neoliberal epidemics.

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