In Michigan, Governor Snyder Is Increasing Unemployment

For years and through the early part of the Great Recession of 2007-09, Michigan was ground zero for unemployment. Unemployment rates of around 15% - worst in the nation.  But once the GM and Chrysler completed their bankruptcies, it has begun to emerge. In the past 12 months Michigan has made relatively good progress on … Continue reading In Michigan, Governor Snyder Is Increasing Unemployment

Social Security Facts

From Ezra Klein via Mark Thoma of Economists View: Ezra Klein on Social Security: 1) Over the next 75 years, Social Security’s shortfall is equal to about 0.7 percent of GDP. Source (PDF). 2) For the average 65-year-old retiring in 2010, Social Security replaced about 40 percent of working-age earnings. That “replacement rate” is scheduled … Continue reading Social Security Facts

Economists For Sale

Economists widely believe themselves to be social scientists.  And gosh-darn rigorous scientists at that - I mean just look at all that esoteric math!  Why, why it looks just like physics!  (well, 19th century physics at least).   As everybody knows, real scientists observe things. They observe nature, experiments, phenomena.Economists are supposed to observe and … Continue reading Economists For Sale