The Most Basic Macro Says the U.S. Debt Deal is Terrible
I kept very close tabs on my country’s ridiculous negotiation on raising the debt ceiling. Although a deal was reached, Economics 101 – basic macro. – tells us that the deal that Washington Cut isn’t going to do our economy any favors.
Sales of Luxury Goods Are Recovering Strongly – NYTimes.com
Further proof that this recovery is only truly a recovery at the top. This article from the New York Times captures more evidence that the rich are benefitting more than the rest of society in this recovery:
Where the Job Growth Is: At the Low End – NYTimes.com
The Economix over at the New York Times goes over a disturbing new report that shows that while our low wage jobs – ones that pay only $13.52 or less per hour are nearly back to their pre-recession peak, high and middle-wage jobs are still several percentage points lower than they were before the recession. What this means is that for the once again increasing number of unemployed Americans is that it’s becoming less and less likely that they will find a job that equals the salary that their old one earned.
