One of the enduring mysteries of the past two years is why measured economic sentiment remains so sour despite objectively good economic outcomes.
Category Archives: Uncategorized
If Child Labor Is OK, Why Not Poorhouses?
From WIZM:
Children ages 14 and 15 would no longer need a work permit or parental permission to get a job under a bill Republican Wisconsin lawmakers released last last week.
The proposal comes amid a wider push by mainly Republican state lawmakers to roll back child labor laws, despite the efforts of federal investigators to crack down on a surge in child labor violations nationally.
Defending the Ruble
Interest rate up. Presumably more intervention, and reconstituted capital controls — although it’s hard to tell. So, when you see the picture of the ruble rebound…
Russia’s Current Account Surplus Disappears
BOFIT also notes the ruble’s weakening. Here’s a picture of the CA through June.
Wisconsin’s Finest [expletive deleted below]
As a transplant to this state, I am always amazed at what I learn about the people who represent the residents of this state. From “‘Get The F— Out’: Wisconsin Congressman Curses Out High School Pages In Capitol…” (Forbes)
Whose Side Are You Rooting For?
A reader writes:
It’s a stealth counteroffensive! Nothing in the US media…a sea change from the heretofore triumphalist “Ukraine is Winning” narrative.
But there is plenty in the Russian media: “Ukraine suffers heavy losses in failed offensive – Moscow”
https://www.rt.com/news/561971-ukraine-offensive-casualties-report/Gotta keep sifting and winnowing to find the truth…
The Sensitivity of Economic Sentiment to Partisan Affiliation
One of the puzzles of current times is why overall assessments of the economy have not risen in accord with actual developments (say, as summarized by the Misery Index), and relatedly why those gains have not redounded to the incumbent president’s approval ratings (discussion here). I don’t have answers, but I have some observations.
A Wisconsin Senator in the Conspiracy
Specifically, Senator Ron Johnson’s role:
Defense Spending over Time
Real defense spending is higher than at the Reagan buildup, but is (much) lower as a ratio of real GDP.
Structures Investment Booms (esp. in Manufacturing)
From the advance release: