5 Years Later - What Did Obama’s “American Recovery & Reinvestment Act” Achieve?
Nearly $30 of government intervention to create $1 of economic growth.
"The failure of the stimulus was a failure of the neo-Keynesian belief that economies can be jolted into action by a wave of government spending. In fact, people are smart enough to realize that every dollar poured into the economy via government spending must eventually be taken out of the productive economy in the form of taxes. The way to jolt an economy to life and to sustain long-term growth is to create more incentives for people to work, save and invest. Let’s hope Washington’s next stimulus plan is aimed at reducing the tax and regulatory burden on American job creators."
10:59 am • 18 February 2014 • 69 notes
Worst February Start for Stocks in 32 Years
Since the announcement of the Fed’s taper, all major equity indices are negative.
I bet Janet Yellen is feeling the heat right about now.
4:27 pm • 3 February 2014 • 5 notes
Census data on income distribution reveal evidence of rising income levels for a rising share of American households
And that movement of the middle-class (and the lower-income group) was so significant that between 1967 and 2009, the share of American households earning incomes above $75,000 more than doubled, from 14.4% to 31.6%. Further, the bottom chart above shows that the share of US households earning $100,000 or above has more than tripled from 6.1% in 1969 to 20.1% in 2009.”
Important to keep in mind when discussing income inequality.
10:46 pm • 6 January 2014 • 4 notes
13 data milestones for 2013
In the course of conducting public opinion surveys and demographic analyses, the Pew Research Center found a wide range of data milestones, breakthroughs, peaks and valleys in 2013.
The libertarian moment.
11:50 am • 27 December 2013 • 6 notes
Chart of the Day: This Is What “Generational Theft” Looks Like
After you graduate, the US will be in the thick of the “generational theft” issue; here’s a heads-up on what this is all about. Generational accounting is an estimate of who benefits from and who pays for government programs. As shown in the first chart, the average person in the generation that turned 65 this year received $327 thousand dollars more in lifetime government benefits than they paid in Federal taxes. On the other hand, children born in the future (e.g., yours) will have a lifetime deficit on this basis of -$421 thousand dollars. If it sounds unfair, it is.
8:39 pm • 17 December 2013 • 13 notes
This current price spike is making last spring’s look like a blip
FYI: A United States Senate panel is holding a hearing on bitcoin today.
11:22 am • 18 November 2013 • 89 notes
Nothing to see here folks, move along.
12:31 pm • 16 November 2013 • 29 notes