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Note on Non-Responses to E-Mail

I recently realized that Verizon is apparently randomly blocking e-mails to my account.  I have no idea why this would be the case, but it is. Anyhow, I generally respond to e-mails, if they raise real questions or make serious points. If anyone has sent me a note and not gotten response, I’d suggest trying Twitter. I’m at @deanbaker13. The post Note on Non-Responses to E-Mail appeared first on Center for Economic and Policy Research.

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The Trump Record on Unemployment

Donald Trump and his supporters routinely boast about his great success in reducing the unemployment rate. While the unemployment rate did fall to low levels under Trump, this was just a continuation of the downward trend that had been in place under Obama since 2010. Here’s the picture with the overall unemployment rate. See the sharp drop for the Trump years? Yeah, I don’t either. By the way, I am being very polite in leaving out the impact of the pandemic, which would show...

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An Economic Survival Package, not a Stimulus Package

There continues to be enormous confusion about what we should be trying to accomplish in the next pandemic relief package. This is best demonstrated by Republicans’ obsession with getting people back to work, with a mixture of cuts to unemployment benefits and return to work bonuses. Ignoring the questionable economic logic (there is zero evidence of large numbers of jobs going unfilled), this approach also ignores the reality of the pandemic. At the start of April, both houses voted nearly...

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The Future of Trust-Busting Is in Joe Biden’s Hands

The New Republic See article on original site Pigs are flying! Up is down! The public approves of how Congress handled something! After Wednesday’s much-anticipated hearing with the chief executive officers of Facebook, Google, Amazon, and Apple, onlookers in the media and activist community generally thought that the House Judiciary Subcommittee on Antitrust members showed up to show Big Tech what’s what. Coming on the heels of critically panned performances from lawmakers in their...

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Stimulus Checks in Next Coronavirus Package Shouldn’t Penalize One-Parent Households

Both the HEROES Act passed by the House in May and Senate Republicans’ HEALS Act announced this week would provide a new round of stimulus in the form of one-time cash payments to most Americans, but with some major differences. One of these differences is in how the bills treat one-parent households with children, the vast majority of which are headed by mothers.  Under the Senate Republicans’ HEALS Act  stimulus provision, one parent who lives with one minor child would receive a much lower...

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Plunge in Consumption of Services Leads to Record 32.9 Percent Drop in GDP

The saving rate hit a record 25.7 percent level in the first quarter, indicating that few of the pandemic checks were spent. The Gross Domestic Product (GDP) shrank at a record 32.9 percent annual rate in the second quarter. While almost all the major categories of GDP fell sharply, a 43.5 percent drop in consumption of services was the largest factor, accounting for 22.9 percentage points of the drop in the quarter. Nonresidential fixed investment also fell sharply, dropping at a 27.0...

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Comparative Carnage: Homicides and the Pandemic

Donald Trump has repeatedly complained about the crime in major U.S. cities. In fact, he just now decided that it would be clever to send U.S. law enforcement officers to major cities in swing states (Milwaukee, Detroit, and Cleveland), ostensibly because of the high crime there. While he has been obsessed with talking about crime in cities with large minority populations, Trump has apparently not been paying much attention to the number of people dying from the pandemic (1,485 yesterday). In...

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Taxpayer-Funded Drug Research Should Require Open-Source Sharing by Big Pharma

LA Progressive BuzzFlash See article on original site As Donald Trump has the United States rushing ahead at “warp speed” on developing a vaccine, we are doing just about everything wrong, if the goal is to quickly produce a safe and effective vaccine that will be widely available throughout the world. We have taken the worst features of our drug development process and ramped them up by an order of magnitude in response to the urgency of the situation. Starting with public funding, the...

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More Thoughts on the Post-Pandemic Economy

I have written before on the post-pandemic economy and how it should actually provide enormous opportunities, but it is worth clarifying a few points. First and most importantly, there is an important measurement issue with GDP that people will need to appreciate. It is often said that GDP is not a good measure of well-being, we see this in a very big way in the post-pandemic period. It is likely that many of the changes in behavior forced by the pandemic, first and foremost telecommuting,...

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The 277 Policies for Which Biden Need Not Ask Permission

The American Prospect See article on original site On July 8, the Joe Biden campaign published the results of its unity task forces with the former Bernie Sanders campaign in a 110-page document of policy recommendations. Though Biden has not committed to enacting the policies recommended by the task forces, they represent the clearest consensus vision for moving a united Democratic Party into the general election, as well as a clear vision for what a Biden presidency might look like. While...

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