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    • Tornado night
      I spent a half-hour tonight sitting in the hallway, waiting out a tornado warning. It never hit here (I don’t think we got more than a sprinkle of rain) but it did hit the Hellmouth, where I used to live north of here. It hit the local mall, and took down a nearby car dealership … Continue reading Tornado night
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    • Week-end Wrap – Political Economy – August 1, 2021
      Week-end Wrap – Political Economy – August 1, 2021 by Tony Wikrent Strategic Political Economy U.S. Population Growth, an Economic Driver, Grinds to a Halt [Wall Street Journal, via Naked Capitalism 7-26-2021] America’s weak population growth, already held back by a decadelong fertility slump, is dropping closer to zero because of the Covid-19 pandemic. In h […]
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Invisible America

There is the one America where John Edwards paraded himself around as a goody goody family man, and then there is the other America where his mistress goes on Oprah to tell all about his love lips.

It is a crying shame that Edwards was the one to popularize the “Two Americas” rhetoric and taint it with his phoniness.

New Deal, Raw Deal. Why split hairs?

From Northeastern University’s Center for Labor Market Studies (via GW’s blog):

The unemployment rates of workers in the fourth quarter of calendar year 2009 varied extremely widely across the ten household income deciles. Workers in the lowest income decile faced a Great Depression type unemployment rate of nearly 31% while those in the second lowest income decile had an unemployment rate slightly below 20% (Table 3 and Chart 2). Unemployment rates fell steadily and steeply across the ten income deciles. Workers in the top two deciles of the income distribution faced unemployment rates of only 4.0 and 3.2 percent respectively, the equivalent of full employment. The relative size of the gap in unemployment rates between workers in the bottom and top income deciles was close to ten to one. Clearly, these two groups of workers occupy radically different types of labor markets in the U.S.

During the 2008 election cycle, Hillary spoke of the invisible Americans under the Bush Administration.

Under the Obama Administration we have Great Depression levels of unemployment for Invisible America and full employment for the America that reassures us the economy is turning a corner.

The more things Change™, the more they stay the same.