Friends and followers — As some of you know, on March 23 I had a brain hemorrhage, technically known as a subarachnoid hemorrhage. This is a very serious condition, often fatal or disabling. But I appear to have been very lucky. After spending nine days in the ICU at Fairfax Hospital, I was discharged and… Read more
I won’t be posting for a couple of weeks due to a medical emergency. However, the prognosis is good and I look forward to returning to my blog soon.
Like everyone else who knew him, I’m in shock and despair over news of the death of the economist Alan Krueger. Alan was the best kind of colleague: always inquisitive, incredibly rigorous about what constituted facts and evidence in economics, and willing and able to talk about his work in ways that made sense to… Read more
Got a late start this AM, so just highlights for now, with more analysis to come. Outliers happen! Payrolls rose a mere 20K last month, a huge downside outlier given the recent trends as shown below in our monthly smoother. The average over the past 3-months of 186K is a much more reliable take on… Read more
The 2017 Trump tax cut committed at least two fiscal sins. By delivering most of its cuts to those at the top of the wealth scale, it worsened our already high-levels of pretax inequalities. And in so doing, it robs the Treasury of much needed revenues; based on our aging population, we’re going to need… Read more