Over at the Upshot, but here’s the key figure which tells a heckuva story. Typically, forecasts that continuously err on one side versus more random error suggest there’s a structural change in the economy that’s left out of the model. Plus, you gotta love the Queen Elizabeth anecdote and picture. Not to be rude,… Read more
Over at PostEverything…it’s designed to re-align the interests of savers and financial advisors as the misalignment is costing retirees as much as percentage point a year. The financial lobby is not at all pleased with this development.
–Teresa Tritch, with characteristic efficiency, nails the essentials of the building Greek/German showdown, emphasizing the critical point that this isn’t a simple story of virtuous lenders and profligate borrowers. Both sides swam in de-Nile since Greece entered the eurozone, and now that the implosion has occurred, the Greeks cannot be the only ones to shoulder… Read more
In a similar spirit to Rep. Van Hollen’s plan which I covered here earlier, the President goes after wealth inequality by closing a big, bad capital gains loophole and using the revenues to help those on the wrong side of the inequality divide. Over at PostEverything.
Orange may be the new black, but in my world raising the federal funds rate is the new deficit reduction. Let me explain. I keep bumping into arguments about why, despite pressures from wages or prices, either in real life or in expectations, the Fed should pre-emptively raise the interest rate it controls in order… Read more