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Archive of Articles in the "Economics" Category

Friday Talking Points -- America Is Back

[ Posted Friday, June 18th, 2021 – 17:57 UTC ]

President Joe Biden had a pretty good week all around. He began the week in Europe, where he met with the leaders of NATO, the European Union, the G7, a few royals (just to mix things up), and Vladimir Putin. That's a pretty packed schedule, but Biden seemed to manage just fine. The Europeans were both visibly thrilled and massively relieved to be visited by a United States president who was, once again, a sane adult (and not a petulant little child-man). They heaped praise upon Biden -- mostly just for being "President Not-Trump." You may laugh, but please recall President Barack Obama won the Nobel Peace Prize solely for being "President Not-Dubya," years earlier. But more seriously, Europe announced some deals with Biden (including, notably, a truce being called on the subsidy war over Boeing and Airbus airplanes). Not only were personal relationships either reaffirmed or begun, tangible diplomatic progress was made. Europe stood as one with the United States over the contentious issues of Russia and China, which only strengthened Biden's position for his meeting with Putin. The Putin summit didn't produce a whole lot in the way of tangible deliverables, but then again it didn't produce an American president willing to believe Russia's ex-K.G.B. leader over his own intelligence services either, so it has to be chalked up as a major improvement. Throughout it all, Biden stuck to one very simple slogan that summed up what his trip was supposed to be showcasing to the world: "America is back."

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Manchin Lays Out His Voting Rights Priorities

[ Posted Thursday, June 17th, 2021 – 16:32 UTC ]

This has been an extraordinary week. I say that because things seem to actually be happening in Washington, which is (to put it politely) not the normal state of affairs at all. Congress even proved that, on occasion, they could move with blinding speed, as they passed a bill to make Juneteenth a federal holiday in a matter of days, instead of the usual "months, if not years." President Joe Biden has already signed the law, long before most Americans were even aware of its existence. The federal workforce will get to take tomorrow off, which just wasn't true at the beginning of the week, or even yesterday. It's long been a closely-held secret, but Congress can act this quickly, when they really want to.

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Friday Talking Points -- Making America Respected Again

[ Posted Friday, June 11th, 2021 – 17:56 UTC ]

President Biden is currently in Europe, in the midst of his first trip abroad since he took office. So the folks at Pew Research decided it was a good time to see how America is now viewed by the rest of the world (or the countries with advanced economies that were surveyed, at any rate). The answers are exactly what you'd expect them to be -- America's standing in the world has dramatically improved, now that a sane adult is in charge of the country once again (instead of an unstable and temperamental toddler).

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Worker Shortages Disappear When Wages Are Raised

[ Posted Thursday, June 10th, 2021 – 16:09 UTC ]

Progressives such as Senator Bernie Sanders have been pushing for a national $15-an-hour minimum wage for quite some time now. So far, they have been unsuccessful, due both to the Senate filibuster and to corporatist Democrats like Senator Joe Manchin (who, the last time the subject came up, would only even consider raising the minimum wage to $11 per hour). But the natural forces of the marketplace seem to be forcing employers towards this goal anyway, now that they're finding it so tough to hire workers. This shouldn't be all that surprising, because it is basic supply and demand. When the demand (for workers) is high and the supply is low (fewer people returning to work), then the marketplace will do what it always does when the formula is applied to merchandise: prices will rise. Or, in this case, "wages," not prices.

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Dave's Not Here

[ Posted Wednesday, June 9th, 2021 – 15:17 UTC ]

Recent actual, no-foolin', you-can't-make-this-stuff-up news item:

A vaccine can now get you some pre-rolled bud in the state of Washington.

The state's liquor and cannabis board announced on Monday that in an effort to support coronavirus vaccinations, it will temporarily allow state-licensed cannabis retailers to give a free joint to adults who get their first or second dose at a vaccine clinic at one of the retail locations.

Call it the latest bounty in an ever-expanding list of incentives popping up across the country meant to push Americans to get their shots. "Joints for jabs" and similar campaigns have been around for months, with cannabis activist groups and local dispensaries offering joints for vaccinations. Now, a state is promoting the program.

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Biden Closes Curtain On Kabuki Show

[ Posted Tuesday, June 8th, 2021 – 17:18 UTC ]

President Joe Biden has had enough, it seems. After wasting more than two months talking to a group of Republican senators led by Shelley Moore Capito, Biden has now come to the conclusion that this purported effort at good-faith negotiation is nothing more than a gigantic stalling tactic designed to waste as much time as possible. Everyone -- likely including Biden -- already knew this from the start, of course, but it had to be allowed to play out because Senator Joe Manchin loves Kabuki theater so much he made the rest of Washington suffer through it all. What comes next will either be "Kabuki (Part 2)" or the Democrats going it alone and successfully passing the lion's share of Biden's American Jobs Plan (as well as possibly his American Families Plan, just for good measure).

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Friday Talking Points -- Bipartisan Kabuki's Last Act

[ Posted Friday, June 4th, 2021 – 17:43 UTC ]

The ushers are flashing the lights in the lobby. Intermission is over, and the last act of the "Bipartisan Infrastructure Kabuki" extravaganza is about to begin. Actually, truth be told, we were among those who thought this play would be over by now, but apparently a final act was hastily added at the last minute, for no real apparent reason.

President Joe Biden called Senator Shelley Moore Caputo today, in what most view as the final negotiation attempt which will try to hammer together a compromise infrastructure package that 10 Republican senators will actually vote for. Biden is, in essence, making his final offer. It is eminently reasonable, considering where the two sides started from, but that doesn't mean it will have any chance of success, since Republicans are really just trying to run the clock out and stall for as long as they can get away with before they admit to the world that there simply is no infrastructure bill that 10 Republican senators are ever going to vote for -- at least not while a Democrat sits in the Oval Office.

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Friday Talking Points -- The Party With No Shame

[ Posted Friday, May 28th, 2021 – 17:54 UTC ]

The Republican Party continued its downward slide into shamelessness today, as they successfully used the Senate's filibuster to block a bill which would have created an independent commission to investigate the unprecedented attack on the United States Capitol (by insurrectionists who wanted to stop Congress from officially declaring the winner of the presidential election, because they didn't like the election's result). Six Republicans voted for the measure, and one more has said he would have if he had been present. Forty-eight Democrats voted for it, and assumably the two who were absent (Patty Murray and Kyrsten Sinema) would also have voted to approve the measure. But that only adds up to a possible total of 57, which still would have left the bill three votes short of the necessary 60. An odd footnote: the final vote (54-35) actually represented 60.7 percent of the senators who were actually present for it -- but that's not the way the filibuster rules work.

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The Republican Infrastructure Con Game

[ Posted Thursday, May 27th, 2021 – 16:21 UTC ]

The Senate Republicans who are trying to appear as if they are negotiating an infrastructure plan in good faith with President Joe Biden are, in reality, trying to con both the media and the public into thinking their plan can be directly compared to the White House's offer. I say this not because of all the bickering over what really and truly constitutes "infrastructure," but instead over the numbers themselves. Because comparing Biden's plan to the GOP's plan is like comparing apples to peanuts.

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Florida's Affront To The First Amendment (Part 2)

[ Posted Wednesday, May 26th, 2021 – 16:57 UTC ]

We now have to jump forward to what the state of Florida is attempting to do, with their new law. Florida is run by Republicans and its governor is widely reported to be considering an eventual presidential run. He's always been a big supporter of Donald Trump and so the state Republicans have taken up the insistence on the right that somehow social media platforms banning conservatives is some sort of tyrannical outrage that must be stopped by governmental intervention. In this one area -- social media and Big Tech in general -- Republicans are for all the regulations they can impose, which obviously runs counter to their longstanding drive to remove as many regulations on as many corporations as possible. So far, though, Republicans don't seem to have any ideological opposition to more and more regulations in this one area, and it's doubtful they ever will.

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