How middle-class Europeans fare under the welfare state

How middle-class Europeans fare under the welfare state

By Daniel J, Mitchell / FEE ccording to progressives like Bernie Sanders, European nations have wonderfully generous welfare states financed by high tax rates on the rich. They’re partly right. There are very large welfare states in Europe (though I wouldn’t use “wonderfully” and “generous” to describe systems that have caused economic stagnation and high levels of unemployment). But […]

Bogus Fed research claim: “Gold Standard didn’t really tame inflation”

Bogus Fed research claim: “Gold Standard didn’t really tame inflation”

By Mike “Mish” Shedlock The Wall Street Journal reports Gold Standard Didn’t Really Tame Inflation, New Research Says. The research was by St. Louis Fed economist Fernando Martin. Curiously, his study precisely shows that the gold standard did indeed tame inflation. Let’s investigate Martin’s bogus claim and his peculiar logic in making it. In his email to the […]

Business leaders see government policies driving Pennsylvania’s population dip

Business leaders see government policies driving Pennsylvania’s population dip

By Michael Carroll / Watchdog.org Pennsylvania business leaders see the recent decline in the state’s population as a result of tepid economic growth, an oversized public sector and an overall lack of competitiveness. Pennsylvania’s population dropped by more than 7,600 between 2015 and 2016, according to an economic outlook report from Wells Fargo Securities.  The […]

Growing number of companies complain about inability to find workers: So why is wage growth so low?

Growing number of companies complain about inability to find workers: So why is wage growth so low?

  By Mike “Mish” Shedlock Since 2010, the highest year-over-year wage increase in any month for production and nonsupervisory employees is near 2.6%. For a two-year stretch between summer of 2011 and summer of 2013 wage increases less than 2% were the norm. Yet, firms complain about labor costs while simultaneously complaining about the lack of workers. […]

The Bernanke-Yellen bubble-depression

The Bernanke-Yellen bubble-depression

By Mark Thornton / Mises Wire In a recent article I advocated for a new way of naming business cycles. The new approach emphasizes the cause rather than the effect. So instead of the “housing bubble” and “financial crisis,” we should refer to the Greenspan-Bernanke Crisis. Here we will turn our attention to the current situation. The […]

By tinkering with process, a new BRAC can save billions

By tinkering with process, a new BRAC can save billions

By Ross Marchand / Taxpayers Protection Alliance Congress has seen more than its fair share of Pentagon budget kurfluffles over the past decade, ranging from sequester showdowns to the dysfunctional (and expensive) F-35 program. But, members of Congress across the ideological spectrum can agree that the string of forlorn, nearly-vacant military bases across the nation ought […]

Beware the predictions of “experts” like Janet Yellen

Beware the predictions of “experts” like Janet Yellen

By Ryan McMaken / Mises Wire Speaking in London, Federal Reserve chair Janet Yellen Tuesday predicted that the “the system is much safer and much sounder” and explained that the Federal Reserve is prepared to deal with numerous enormous shocks to the economy. In her conversation with Lord Nicholas Stern, Yellen also went on to list the reasons that, thanks to […]

Tax snuffs out Pennsylvania vape shops

Tax snuffs out Pennsylvania vape shops

From Watchdog.org Facing a budget shortfall last year, lawmakers and Gov. Tom Wolf slapped a massive 40 percent wholesale tax on vaping products, forcing vape shop owners to pay the tax retroactively even on products already on their store shelves. The impact on small businesses owners, employees, and customers has been devastating. Of the 311 […]

Investigating Amazon’s impact on retail sales growth

Investigating Amazon’s impact on retail sales growth

By Mike “Mish” Shedlock The latest retail sales report from the Census Department offers a fascinating look at Amazon’s impact on retailers if you dive into the details. Retail sales are off to a poor start in the second quarter. April plus May growth is only up 1% in total, about 0.6% annualized. Areas highlighted […]

Retail sales dive (and it’s not just autos)

Retail sales dive (and it’s not just autos)

By Mike “Mish” Shedlock Retail sales took a 0.3 percent dive in May vs an Econoday expectation of a 0.1 percent rise. Weakness was across the board. It must be transitory because the Fed hikes this afternoon. Consumer spending was unusually weak in the first quarter and doesn’t look to be improving this quarter. Retail sales fell […]

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