Congress has increased the cost of unskilled labor by 10.7% in the middle of the worst recession since the early 1980s. The unemployment rate is 9.5%. It is unclear how this is supposed to help the economy – unless you are Labor Secretary Solis or the Economic Policy Institute. The claim is that this will [...]
Read moreLarger, more concentrated banks would be a set-up for even larger financial disasters in the future.
Read moreIn a most forthright and clear Fed statement, St. Louis Fed president James Bullard spoke on Fed exit strategies at a Global Interdependence Center luncheon today at the Philly Fed. One can find the text of his slides and the videotape at www.stlouisfed.org.
Read moreIt is ironic that this week, 50 years after we graduated, GM goes into bankruptcy with the U.S. government taking control in exchange for $50 billion of our, taxpayers’, money. When we were in school, Charlie Wilson, Ike’s Secretary of Defense and former CEO of GM said: “What’s good for GM, is good for the [...]
Read moreThe “Buy America” provision in the “stimulus” (haven’t seen much of the $787 billion yet) package is causing more and more trouble to U.S. firms that would like to participate, but have “hidden” imports in their products.
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