All Things in Moderation

Morning Report – jobs report aftermath 7/8/13

22 Responses

1. 

   yellojkt, on July 8, 2013 at 8:19 am said:

   Krugman is saying that 200k jobs is pretty anemic and that we should be doing 300k to have a robust recovery. He calls the current economy a low-grade depression.

   LikeLike

   Reply
2. 

   markinaustin, on July 8, 2013 at 8:46 am said:

   YJ, Krugman’s Rx for slow growth is federal spending, immediately, now. He has talked about long term structural change, but his focus seems to always be on what can be done now. Thus he sees the – utterly massive beyond imagination of a mortal with ten fingers – money printing of the Fed as not enough. He sees a fiscal deficit of 100s of billions per year as not enough. We won’t know what is enough until we reach full employment in his view.

   If he truly sought long term structural growth and believed in human capital he would be focusing on stuff like immigration and public education, the first of which is a federal issue and the second of which is a state issue. Yes, we can do more “infrastructure” but if we think of it as within the normal scope of repair and replace and renew for long term viability rather than as an opportunity to do rush projects to showcase how 4000 workers were temporarily employed on a tunnel project the long term results would be better.

   See the quotation of the day from Sam Houston. The failure of 30% of persons to graduate HS since 1973 is the biggest brake on growth and health in the economy and gives us a seeming perpetual group whose employment is precarious.

   I would like to see infrastructure repairs concentrated on the deferred maintenance items that the American Society of Civil Engineers keeps pointing to. But that is because I want the bridge to be safe and now is a “cheap” time to do the repairs. That it would have some marginal impact on unemployment is a good thing, but it is not THE thing.

   Then Krugman writes as if we are in a vacuum and we can somehow create jobs in large numbers that are impervious to global demand falling for American products and services.

   I just find Krugman’s repeated insistence on “stimulus” in an already “stimulated” economy tiring, if not tiresome.

   LikeLike

   Reply
3. 

   Troll McWingnut or George, whichever, on July 8, 2013 at 8:47 am said:

   His book, End This Depression Now must be coming out in paperback.

   I mentioned Friday that part-time jobs are the only ones being created. If only we could figure out if there is some sort of perverse incentive that punishes employers if they hire full time employees versus part timers?

   Stumper.

   LikeLike

   Reply
4. 

   novahockey, on July 8, 2013 at 8:49 am said:

   http://www.usatoday.com/story/opinion/2013/07/07/third-amendment-henderson-nevada-police-column/2496689/

   on the 3rd amendment case out of NV

   LikeLike

   Reply
   • 

     markinaustin, on July 8, 2013 at 8:54 am said:

     I think it is a straight up 4th A case. An unlawful seizure. But I don’t mind testing the 3d A waters as well.

     LikeLike

     Reply
5. 

   novahockey, on July 8, 2013 at 9:07 am said:

   what are your thoughts on stripping immunity?

   LikeLike

   Reply
6. 

   Troll McWingnut or George, whichever, on July 8, 2013 at 9:15 am said:

   I tell ya,being a Democrat always pays off!

   http://m.nypost.com/p/news/business/corzine_off_the_crook_t3VpDFmfEsx9Qd7VdtCLvM?utm_medium=rss&utm_content=Business

   LikeLike

   Reply
7. 

   jnc4p, on July 8, 2013 at 9:35 am said:

   Nova, I assume you saw the Volkh piece on it.

   http://www.volokh.com/2013/07/04/a-real-live-third-amendment-case/

   One thing that distinguishes it from the usual Fourth Amendment cases is that occupants of the home that they occupied weren’t suspected of any criminal activity themselves. It was simply a convenient place for the police to observe another location.

   LikeLike

   Reply
8. 

   novahockey, on July 8, 2013 at 9:53 am said:

   I did — but there are 2 updates that I had yet to see. thx.

   LikeLike

   Reply
9. 

   jnc4p, on July 8, 2013 at 10:02 am said:

   This should prove interesting:

   “Hedge fund Perry Capital sues government over Fannie Mae and Freddie Mac
   By Danielle Douglas, Updated: Monday, July 8, 11:46 AM E-mail the writer

   Hedge fund Perry Capital filed a lawsuit in federal court late Sunday that accuses the government of illegally seizing the profits of mortgage finance giants Fannie Mae and Freddie Mac.

   The lawsuit, filed in U.S. District Court in Washington, alleges the Treasury Department and the Federal Housing Finance Agency, which oversees the government-owned mortgage companies, violated a 2008 law that placed Fannie and Freddie into conservatorship to prevent them from bankruptcy.”

   http://www.washingtonpost.com/business/economy/hedge-fund-sues-government-over-fannie-and-freddie/2013/07/08/828babfc-e773-11e2-8f22-de4bd2a2bd39_story.html?hpid=z3

   LikeLike

   Reply
10. 

    jnc4p, on July 8, 2013 at 11:30 am said:

    For those who haven’t seen this already, it’s a great interview.

    Daniel Ellsberg: ‘I’m sure that President Obama would have sought a life sentence in my case’

    By Timothy B. Lee, Published: June 5, 2013 at 11:24 am

    http://www.washingtonpost.com/blogs/wonkblog/wp/2013/06/05/daniel-ellsberg-im-sure-that-president-obama-would-have-sought-a-life-sentence-in-my-case/

    LikeLike

    Reply
11. 

    Brent Nyitray, on July 8, 2013 at 11:38 am said:

    Dr. Cowbell must be mighty disappointed that the economy is getting better all by itself, without the massive public stimulus program he has called for.

    I think he underestimates the effect that housing is going to have on the recovery. The economy has been fighting with one arm tied behind its back. Construction employs a lot of people and we have underbuilt for 10 years.

    We’ll be fine. If obama wants to stimulate infrastructure spending, he should re-consider his plan to limit the tax-deductibility of muni bond interest. Munis ARE how we finance infrastructure investment in this country, with decisions made by state and local governments. I don’t know if his proposal comes from his statist mentality that only the Federal government can make smart decisions or his class warrior mentality that wants to stick it to the rich. Either way, it is counterproductive to what he claims he wants to accomplish

    LikeLike

    Reply
12. 

    jnc4p, on July 8, 2013 at 12:22 pm said:

    But Brent, if you recognize those sorts of trade offs, how do you square that with the narrative that all of our problems are caused by “false choices”?

    LikeLike

    Reply
13. 

    jnc4p, on July 8, 2013 at 12:23 pm said:

    Worth noting if it hasn’t been already:

    “UnitedHealthcare Is The Second To Leave California’s Individual Insurance Market Ahead Of Obamacare

    07/02/13 08:33 PM ET EDT AP”

    http://www.huffingtonpost.com/2013/07/02/unitedhealthcare-california_n_3537396.html

    LikeLike

    Reply
14. 

    Troll McWingnut or George, whichever, on July 8, 2013 at 1:15 pm said:

    There is just no honor left anymore.

    http://m.jsonline.com/more/news/blogs/214542541.html

    LikeLike

    Reply
15. 

    markinaustin, on July 9, 2013 at 7:19 pm said:

    The notion that Sanford or Weiner or Spitzer is so much better than the field of possible candidates for the public jobs each seeks that we should overlook their personal problems is nonsense. I concede that each of them might be a better choice than a single hypothetical opponent. But if party line voting (R in SC, D in NY) makes these guys unbeatable that kinda sux.

    LikeLike

    Reply
    • 

      Geanie, on July 10, 2013 at 5:41 am said:

      It doesn’t “kinda sux”… IT SUXS ! So sad the bar just keeps getting lower and lower and lower.

      LikeLike

      Reply
16. 

    jnc4p, on July 10, 2013 at 10:49 am said:

    Good op-ed by Phil Gramm on tax reform.

    http://online.wsj.com/article/SB10001424127887324563004578523513032747882.html?mod=WSJ_Opinion_LEADTop

    LikeLike

    Reply
17. 

    yellojkt, on July 10, 2013 at 11:04 am said:

    Really, jnc?

    Third, Republicans should require all similarly structured firms be treated the same. If sweat equity is taxed as a capital gain for a mechanic who opens a garage with a financial partner, it should be treated the same for a hedge fund or private-equity manager who shares in the gains of his investors.

    That is the most disingenuous defense of carried interest I have ever read.

    LikeLike

    Reply
18. 

    Michigoose, on July 10, 2013 at 11:11 am said:

    I don’t know that I’d take Phil Gramm’s advice on fiscal policy at any price.

    LikeLike

    Reply
19. 

    jnc4p, on July 10, 2013 at 2:08 pm said:

    This one is better:

    http://www.cnbc.com/id/46120273

    LikeLike

    Reply
20. 

    jnc4p, on July 10, 2013 at 4:54 pm said:

    Good piece on the employer mandate calculations.

    LikeLike

    Reply