The Radford Free Press – Page 373 – All life is problem solving.

Jobs? What Jobs?

July 22, 2010

Today’s report of a jump in claims for unemployment assistance – by 37,000 to a total of 464,000 – is both disappointing and salutary. Yet expected. The declines of the past two weeks had been given an artificial boost by the auto industry’s policy this year of not shutting down for a summer break. This […]

Economics / austerity policies, deficits, fiscal policy, Hoover, Keynes, stimulus /

The Austerity Debate Continues

July 20, 2010

This morning’s Financial Times is a must read. It contains an excellent point/counter-point about the austerity argument now raging. The pro-growth argument is spelled out by Brad DeLong, while the austerity point of view is argued by Niall Ferguson. In this discussion DeLong is wearing the white hat. Ferguson’s use of numbers is flat out […]

Economics / deflation, stimulus, wages /

Wages: Deflation Early Warning?

July 20, 2010

Just a quick note. I received the Bureau of Labor Statistics press release on wages this morning and one thing jumped out at me: during the second quarter average [median] wages rose to $740 a week. That’s up 0.8% on last year. But inflation rose 1.8% over the same time. This means that real wages […]

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