Today's jobs report was much weaker than expected. Payroll jobs fell 92k in Feb, and revisions to Dec data show a loss of 17k jobs. Average job growth over the last 3 months now under 6k.
Household survey population controls indicate a significant drop in the labor force.
#NumbersDay #EconSky
Shout out to women in heterodox economics #WomensHistoryMonth
Excellent video by Professor Ryan Woodgate debunking monetarism:
Inflation is NOT "too much money chasing too few goods"
youtu.be/x2l2rmsYmrw?...
Join us if you are in Mexico City this week at UNAM - Universidad Nacional Autónoma de México
After learning a bit about differential equations, I was able to figure out how to build a Lotka–Volterra model, also known as a predator-prey system, demonstrating the non-linear dynamics between the population of hares and coyotes.
Maybe We Shouldn't Blame the BLS Participation in economic surveys has collapsed since the pandemic / Response Rate to BLS Current Population Survey
I don’t think Trump firing the head of the Bureau of Labor Statistics will help this.
Get ready for frequent power outages thanks to Trump killing the renewable energy tax credit, which will decimate our energy capacity while artificial intelligence, data centers, and crypto mines are projected to take up too much of the energy supply.
I don’t think anyone is prepared for what they just did w/ ICE.
This is not a simple budget increase. It is an explosion - making ICE bigger than the FBI, US Bureau of Prisons, DEA,& others combined.
It is setting up to make what’s happening now look like child’s play. And people are disappearing.
I generally correct people when they call me an economist but I also sign stuff like this when people insist I "count". So what do people think, have I done enough econ writing to accept the label economist even though I have no such credential?
www.thenation.com/article/econ...
Trump's "One Big Beautiful Bill" will slash resources for households in the bottom 50 percent while the top 10 percent receive permanent tax cuts. This is class warfare!
"Trump Accounts" would do nothing to close the wealth gap in America.
Congress should reject them & instead pass Baby Bonds—a serious, inclusive, & economically sound proposal for advancing economic justice.
@darrickhamilton.bsky.social & I explain why: www.washingtonpost.com/opinions/202...
The debt & deficit matter - but not for the reasons you probably think they do.
Sirota's fascinating discussion with economist @stephaniekelton.bsky.social about the Trump tax cut bill, the credit downgrade, inflation, and what you should actually keep your eye on.
Trump's immigration approval has fallen 6 points on net this week
www.gelliottmorris.com/p/data
I've updated this chart with the 2024 SHED survey data and it confirms what I thought when I wrote my analysis in November- more people were worse off than better off from the previous year and this is the single best guide to the election.
www.crisesnotes.com/one-election...
The Trump Account is not a proper solution to the childcare crisis. Instead of investing in universal childcare, the GOP is pushing a tax-deferred trust account, benefiting the wealthy while working families struggle with the high cost of living to afford to make such deposits.
Can @bsky.app create group chats already???
House Energy & Commerce Committee Republicans gave a massive gift to Big Tech, leaving American citizens vulnerable to exploitation and abuse from AI technology such as deepfakes and algorithmic price-fixing software.
www.levernews.com/republicans-...
Happy International Workers' Day! In our global opposition to right-wing authoritarianism, we concurrently challenge the exploitative nature of capitalist labor practices. Let us remain unified and resolute in our pursuit of working-class liberation. Workers of the world, unite!
Logistics are going to be so fucked whenever tariffs are removed or lowered
I'm currently multi-tasking, I have four tabs open in Google Chrome; one half is basically yuri manga and fanfiction, and the other half is heterodox economics blogs.
Homelessness is another area where much of the media filters what kind of reality gets through to their audience. During his time at CBS News, Bernard Goldberg noticed the difference between what he saw on the street and what was being broadcast on television: In the 1980s, I started noticing that the homeless people we showed on the news didn’t look very much like the homeless people I was tripping over on the sidewalk. The ones on the sidewalk, by and large, were winos or drug addicts or schizophrenics. They mumbled crazy things or gave you the evil eye when they put paper coffee cups in your face and “asked” for money. . . . But the ones we liked to show on television were different. They looked as if they came from your neighborhood and mine. They looked like us. And the message from TV news was that they didn’t just look like us—they were like us! On NBC, Tom Brokaw said that the homeless are “people you know.” If the homeless tend to be sanitized in television news, businessmen tend to be demonized in movies and television dramas, as another study found:
Thomas Sowell on homelessness in Intellectuals and Society. This man is a fucking idiot.
Outside of a few select goods that may see price hikes, wouldn't the more prominent firms absorb the costs of tariffs within their margins? It was evident during the first trade war when most retailers had absorbed much of the higher import prices by earning lower profit margins.
US consumers are showing increasing signs of financial stress as they brace for higher prices from the Trump’s administration’s tariffs on imports, raising concerns about a crucial driver of the US economy www.ft.com/content/539c...
Rethinking the state isn’t about mimicking the logic of start-up culture–rapid iteration, disruption and scaling to increase profits. Rather than learning how to win at all costs, governments need to learn how to collaborate, share, and diffuse better practices
Latest w @rainerkattel.bsky.social ⬇️
Today is the Trump Tariff crisis's Lehman Brothers failure moment. If you want me on TV or your major media outlet, signal me at NathanTankus.01 or email at crisesnotes@gmail[dot]com
Good morning Bluesky !
Infographic titled "Raise the Wage Act: Raising the federal minimum wage to $17/hr by 2030" 15% of the U.S. workforce would get a raise That's 22,247,000 workers! $17/hr would mean the average worker would make $3,200 more
@sanders.senate.gov & @bobbyscott.house.gov just reintroduced the Raise the Wage Act to ⬆️ the federal min wage to $17/hr by 2030
This increase would impact 15% of the US workforce—over 22 million people—and the average affected worker would make an additional $3,200/yr
www.epi.org/publication/...
Wealthy Americans own most stocks => policy-induced fall in expected profits of public firms => lower equity prices directly impacts their wealth most.
Less wealthy loss mostly thru defined-contribution pensions.
Total wealth ⬇️ estimated:
5.5% for wealthiest 1%
4.5% for next 9%
3% for bottom 90%
Trump's auto tariffs are pushing up used car prices.
