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Showing posts from March 4, 2012

Economist's View: The Labor Market Continues to Improve

Economist's View: The Labor Market Continues to Improve : As Mark Thoma notes that it too early for lawmakers to turn their attention away from job market.  They have left a long time ago - basically after the 2009 stimulus... They was a few minor things since then but nothing of great significance.  However, it is important that they have not gone full swing and switched to any serious federal austerity measures. This can be seen on the near horizon but as long as it is back loaded, mostly after 2014, I believe we will be far along in the recovery in which it might be time to look at reducing the deficit.

BLS - February Employment Numbers

Nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent February's Employment Situation
An interesting article form Tax Analysts here . Here is the JCT report from 2010.

Capital Gains vs. Ordinary Income - Economic View - NYTimes.com

Capital Gains vs. Ordinary Income - Economic View - NYTimes.com : This is just plain baloney... Arguing the 'Carl's' sweet equity should be capital doesn't hold logical sense. His labor is labor is labor and should be taxed as such and so should all the other examples. If we don't have any preferential rate then he can no longer make this ridiculous argument.

US Corporate Rate

CRS Report on Corporate Tax Rates Jane Gravelle Senate Testimony Above are links to important discussion related to the US Corporate income tax and why some feel that it is not vastly different, from an effective tax rate, than other countries even though the headline rate is among the very top.  A big issue is accelerate depreciation, which is not the norm around the world but is a very big 'incentive' in the U.S.  It is unclear at whether any capital decisions are made because of accelerated depreciation but there may be some demand pull in various on/off 'bonus' depreciation of the last decade.  The question is whether this 'timing' issues ever economically reverses. More to come later...

Employment Preview

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Economic Calendar - Bloomberg : Employment Situation Released On 3/9/2012 8:30:00 AM For Feb, 2012 Prior Consensus Consensus Range Nonfarm Payrolls - M/M change 243,000  204,000  180,000  to 275,000  Unemployment Rate - Level 8.3 % 8.3 % 8.1 % to 8.5 % Average Hourly Earnings - M/M change 0.2 % 0.2 % 0.2 % to 0.4 % Av Workweek - All Employees 34.5 hrs 34.5 hrs 34.5 hrs to 34.6 hrs Private Payrolls - M/M change 257,000  220,000  195,000  to 285,000  Market Consensus before announcement Nonfarm payroll employment in January advanced 243,000 after jumping 203,000 in December and rising 157,000 in November. The net revisions for November and December were up 60,000. As for some time, private payrolls outstripped the total, increasing 257,000 in January, following a gain of 220,000 in December. Average hourly earnings rose 0.2 percent in January, following a 0.1 percent increase the prior month. The average workweek for all workers in January held steady at 34.5 hours.

Wrestling Brackets

D1 Brackets

News Release: Gross Domestic Product

News Release: Gross Domestic Product : The latest GDP data from the Bureau of Economic Analysis indicate that the output gap narrowed in Q4 2011 at a slightly more rapid pace than previously estimated. The second estimate, released February 29, showed US real GDP growing at a 3 percent annual rate last quarter, up from the 2.8 percent advance estimate released at the end of January. Growth was revised upward for all major sectors of the economy.

Guest Post: Attorney General Holder Says Murder Is Legal

Guest Post: Attorney General Holder Says Murder Is Legal This is a tough read and a lot to think about. I don't profess to have easy or pat answers. I have always disagreed with violence at any and all levels but don't think that there is not an easy solution or a close to a consensus.

Bloggers create a new audio media with Odiogo podcasts.

Bloggers create a new audio media with Odiogo podcasts. : Apparently I do not have enough commentary to use odiogo. So hopefully if I can get more long-winded overtime this will be available on the website.

Europe's Two Depressions - NYTimes.com

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Europe's Two Depressions - NYTimes.com : Can anyone see that Europe is going the wrong way....

InterMat Wrestling - NCAA Division I brackets released on Wednesday

InterMat Wrestling - NCAA Division I brackets released on Wednesday : Brackets to begin at 1 pm (EST) beginning at 125.

Economics in the Crisis - NYTimes.com

Economics in the Crisis - NYTimes.com : A great summary of the crisis. A little hyperbole but great nonetheless. Compromise can be an difficult thing and even when we are 'sure' we are 'right' we can all learn to be humble and willing to meet in the middle. We can continue to debate where the 'true' middle but we should be grateful we were able to get many tastes of fiscal stimulus even if they were not what the IS-LM model would indicate were needed.

EIWA Final Brackets

http://www.goprincetontigers.com/fls/10600/pdf/Final_2012_EIWA_Brackets.pdf?DB_OEM_ID=10600

BIG 10 Wrestling Championships Final Results

http://intermatwrestle.com/Files/pdf/11-12/bigtenchampionships.pdf 'via Blog this'

Calculated Risk: Personal Saving Rate and Income less Transfer Payments

Calculated Risk: Personal Saving Rate and Income less Transfer Payments :

Striking it Richer:

http://elsa.berkeley.edu/~saez/saez-UStopincomes-2010.pdf

Economist's View: Discrediting Academic Voices

Economist's View: Discrediting Academic Voices :

Economist's View: Did the Stimulus Package Work?

Economist's View: Did the Stimulus Package Work? :

WHAT DO WE KNOW ABOUT THE EFFECTS OF FISCAL POLICY?

WHAT DO WE KNOW ABOUT THE EFFECTS OF FISCAL POLICY? SEPARATING EVIDENCE FROM IDEOLOGY http://www.econ.berkeley.edu/~cromer/Written%20Version%20of%20Effects%20of%20Fiscal%20Policy.pdf

The 2009 Stimulus Package: Two Years Later

http://media.hoover.org/sites/default/files/documents/2009-Stimulus-two-years-later.pdf