Mortgage Applications Fell Last Week

Looks like those low rates aren’t all they’re cracked up to be. Once again, we need: a FICA suspension $500 per capita fed distribution to the state govts $8/hr federally funded transition job for anyone willing and able to work And institutional structure that facilitates GDP growth with less energy consumption Mortgage Applications Fell Last […]

Geithner’s Letter to G-20 on ‘External Imbalances’

They’ve always been completely out of paradigm on domestic federal budgets. But this time around their ignorance has already been costly beyond imagination and looks to only get more so. Geithner is just symptomatic of all that’s wrong with the mainstream’s understanding of monetary operations. And I haven’t heard a single mainstream economist who’s got […]

Obama speech- not your father’s Democrats

There is a quick fix, a full payroll tax holiday for employees and employers. His small business proposals show he and the rest of Congress still don’t understand that employment is a function of sales. There is nothing in their proposals to support consumption, which is the only point of any economy. I suspect they […]

Payroll taxes and value of the currency

>    >   (email exchange) >    >   On Tue, Feb 16, 2010 at 9:18 AM, wrote: >    >   A payroll tax holiday would be tantamount to a currency devaluation, no? As Warren’s >   rightfully described the current US dollar as being merely a tax credit at the end >   of the day, a reduction in tax burdens will reduce the demand […]

low wage workers hit hardest by the recession

Fits annecdotally with the macro statistics that showed real GDP up 5.7% in Q4 while unemployment also went up. Nothing that a full payroll tax holiday in Q3 08 wouldn’t have prevented. This is not what the administration was hoping for, but it is the result of their policies. ‘No Labor Market Recession For America’s […]