ICE agents pulled him over and asked for his license, registration and insurance and, most forebodingly, whether the men were in the United States legally.
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Tuesday, April 3, 2018
ICE agents pulled him over and asked for his license, registration and insurance and, most forebodingly, whether the men were in the United States legally.
Wednesday, July 26, 2017
By Bloomberg, July 25, 2017
Read More: https://www.bloomberg.com
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Friday, February 19, 2016
By Steven Dennis, Sep 23, 2015 Roll Call
“He’s said things close to open borders, which I think is wrong, and his opinion is no more persuasive to me than the Wall Street Journal’s. I don’t agree with either one,” Sessions told CQ Roll Call in a hallway interview Tuesday.
Read More: http://blogs.rollcall.com
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Friday, July 17, 2015
ICYMI: Immigration And The American Worker
By George Borjas April 2013 CIS
At current levels of around one million immigrants per year, immigration makes the U.S. economy (GDP) significantly larger, with almost all of this increase in GDP accruing to the immigrants themselves as a payment for their labor services.
For American workers, immigration is primarily a redistributive policy. Economic theory predicts that immigration will redistribute income by lowering the wages of competing American workers and increasing the wages of complementary American workers as well as profits for business owners and other “users” of immigrant labor. Although the overall net impact on the native-born is small, the loss or gain for particular groups of the population can be substantial.
The best empirical research that tries to examine what has actually happened in the U.S. labor market aligns well with economy theory: An increase in the number of workers leads to lower wages. This report focuses on the labor market impact of immigration.
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Monday, July 13, 2015
Hillary: "We Have To Build A Growth And Fairness Economy"
By Associated Press , July 13, 2015 Real Clear Politics
HILLARY CLINTON, CANDIDATE FOR PRESIDENT: Now today — today, as the shadow of crisis recedes and longer- term challenges come into focus, I believe we have to build a growth and fairness economy. You can’t have one without the other. We can’t create enough jobs and new businesses without more growth, and we can’t build strong families and support our consumer economy without more fairness. We need both.
Because while America standing again, we are not yet running the way we should. Corporate profits are at near record highs and Americans are working as hard as ever. But paychecks had nearly budged in real terms. Families today are stretched in so many directions, and so are their budgets. Out of pocket costs of health care, child care, hearing for aging parents, are rising a lot faster than wages.
I hear this everywhere I go. A single mom talked about juggling a job and classes at community college while raising three kids. She doesn’t expect anything to come easy. But if she got a raise, everything would not be quite so hard.
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Tuesday, June 9, 2015
Paul Volcker Warns On Health Of US State Finances
Paul Volcker, former chairman of the Federal Reserve, has warned that US states rely on faulty practices to balance their budgets, masking the true nature of their finances and leading to poor policy making.
While states have returned to better health after the depths of the financial crisis and recession of the last decade, many remain under "heavy pressure," with overall tax revenues, adjusted for inflation, barely recovered from their pre-recession peaks.
"The continued fiscal stress is tempting states to continue, and even intensify, budgeting and accounting practices that obscure their true financial position, shift current costs on to future generations, and push off the need to make hard choices on spending priorities and revenue practices," Mr Volcker said in a report released on Monday by the Volcker Alliance, a government reform group he founded in 2013.
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Wednesday, April 8, 2015
Sunday, March 1, 2015
Scarborough: Decline In Middle Class Tied To Decline In Union
By Mark Finkelstein, Feb. 25, 2015, Newsbuster.com
Read the full story: www.newsbusters.org
By Mark Finkelstein, Feb. 25, 2015, Newsbuster.com
Read the full story: www.newsbusters.org
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Thursday, February 5, 2015
President Barack Obama, in his State of the Union speech, called for a minimum-wage hike and for government-mandated paid family and medical leave.
"We are the only advanced country on Earth," said the President, "that doesn't guarantee paid sick leave or paid maternity leave to our workers." On the minimum wage, Obama issued this challenge: "And to everyone in this Congress who still refuses to raise the minimum wage, I say this: If you truly believe you could work full-time and support a family on less than $15,000 a year, try it. If not, vote to give millions of the hardest-working people in America a raise."
Minimum wage and paid family leave are not only moral imperatives, says Obama, but good economics to boot. Employees, he tells us, are happier and therefore more productive. Minimum wage and paid medical leave, understand, actually benefit business. It's just that dumb businessmen and women don't realize it.
But what does it say that perhaps the two most high-profile leftwing economists once opposed the minimum wage and paid family and medical leave?
When Obamacare architect/economist Jonathan Gruber and The New York Times economist Paul Krugman actually practiced economics, they both opposed the minimum wage. In Gruber's case, he also opposed government mandated for paid family and medical leave. In 2011 -- less than four years ago -- Gruber gave an MIT lecture called "Applying Supply and Demand." About the minimum wage, Gruber said: "Let's say the government rolled in and set a minimum wage. ... Workers want to supply more hours than firms want to hire. ... You end up with excess supply. And we call that excess supply 'unemployment.'" He also insisted that a higher minimum wage pressures an employer to turn to automation: "We have a downward sloping demand curve, and why is it downward sloping? Because the higher the wage, the fewer workers the firm wants to hire. It would rather use machines instead."
As to paid leave, Gruber also argued against it. In 1994 Gruber wrote: "I study several state and federal mandates which stipulated that childbirth be covered comprehensively in health insurance plans, raising the relative cost of insuring women of childbearing age. I find substantial shifting of the costs of these mandates to the wages of the targeted group." In other words, Gruber said that an employer forced to pay for family leave will simply reduce the employee's wages to offset the cost -- not net benefit to the employee.
This brings us to The New York Times columnist/economist Paul Krugman, who currently supports a $15 minimum wage. He, too, has done a 180 on the issue.
In 1998, Krugman reviewed a book that supported the living wage, titled "The Living Wage: Building a Fair Economy." But Krugman slammed the idea: "The living wage movement is simply a move to raise minimum wages through local action. So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment."
Krugman even dismissed Card-Krueger, the widely cited minimum-wage study that purports to show its positive effect. Krugman pretty much dismissed it. "Indeed," he wrote, "much-cited studies by two well-regarded labor economists, David Card and Alan Krueger, find that where there have been more or less controlled experiments, for example when New Jersey raised minimum wages but Pennsylvania did not, the effects of the increase on employment have been negligible or even positive. Exactly what to make of this result is a source of great dispute. Card and Krueger offered some complex theoretical rationales, but most of their colleagues are unconvinced; the centrist view is probably that minimum wages 'do,' in fact, reduce employment, but that the effects are small and swamped by other forces. ...
"In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price -? determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away."
In sum, Gruber and Krugman once made Milton Friedman-like, Econ 101 arguments against minimum wage and its cousin, the livable wage. And in Gruber's case, he even argued against government-mandated paid family and medical leave.
The late Democratic Sen. Daniel Patrick Moynihan is attributed with the following quote: "You're entitled to your opinion, but you're not entitled to your own facts." In the case of Gruber and Krugman's current support for "progressive" policies they once opposed, what changed? The facts -- or the politics?
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Monday, January 19, 2015
Middle Class Decline Looms Over Final Years Of Obama Presidency
Howard Schneider, Jan. 18, 2015, Reuters
In the six years through 2013, over the recession and recovery that have spanned Obama's tenure, jobs have been added at the top and bottom of the wage scale, a Reuters analysis of labor statistics shows. In the middle, the economy has shed positions - whether in traditional trades like machining or electrical work, white-collar jobs in human resources, or technical ones like computer operators.
Read more: www.reuters.com
In the six years through 2013, over the recession and recovery that have spanned Obama's tenure, jobs have been added at the top and bottom of the wage scale, a Reuters analysis of labor statistics shows. In the middle, the economy has shed positions - whether in traditional trades like machining or electrical work, white-collar jobs in human resources, or technical ones like computer operators.
Read more: www.reuters.com
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Sunday, January 18, 2015
VC Firms Rain Down Cash On Tech Startups, Is Bubble Brewing?
Brandon Bailey, Jan. 16, 2015, AP
Uber Technologies, the ride-hailing service disrupting the transportation industry and generating plenty of press, received the top two biggest rounds of investment last year. Each raised $1.2 billion for Uber, and the company's value is now pegged at $41 billion. Other major deals included $542 million (mostly from Google Inc.) invested in Magic Leap Inc., a secretive startup working on virtual reality technology; $500 million in Vice Media, which operates online news and video channels; and $485 million in SnapChat, the popular messaging service.
Read more: abcnews.go.com
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Uber Technologies, the ride-hailing service disrupting the transportation industry and generating plenty of press, received the top two biggest rounds of investment last year. Each raised $1.2 billion for Uber, and the company's value is now pegged at $41 billion. Other major deals included $542 million (mostly from Google Inc.) invested in Magic Leap Inc., a secretive startup working on virtual reality technology; $500 million in Vice Media, which operates online news and video channels; and $485 million in SnapChat, the popular messaging service.
Read more: abcnews.go.com
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Wednesday, January 14, 2015
Obama's Upbeat Economy Message A Shift From Last Year's Tone
Jim Kuhnhenn, Jan. 12, 2015, AP
Despite multiple signs the recovery is indeed taking hold, some are saying otherwise, from conservatives to liberals in the president's own Democratic Party who point to stagnant wages and a yawning rich-poor income gap. The clashing messages reflect Obama's need to boost his economic credentials and establish a post-recession legacy, and the desire by lawmakers to push their divergent economic policies.
Read more: www.usnews.com
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Despite multiple signs the recovery is indeed taking hold, some are saying otherwise, from conservatives to liberals in the president's own Democratic Party who point to stagnant wages and a yawning rich-poor income gap. The clashing messages reflect Obama's need to boost his economic credentials and establish a post-recession legacy, and the desire by lawmakers to push their divergent economic policies.
Read more: www.usnews.com
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Sunday, January 4, 2015
Why Alabama's Minimum Wage ($7.25) Is Higher Than California's ($9)
Brendan Kirby, Jan. 2, 2015, AL.com
A dollar goes much further in low-cost Alabama than it does in almost every other state. One way of measuring this is the "regional price parities" data published by Bureau of Economic Analysis, which uses Census information and economic data to calculate the relative value of earnings in each state.
The federal data examines the cost of various goods and services, including rents. Those costs are lower in only two states, Mississippi and Arkansas.
Read more: www.al.com
A dollar goes much further in low-cost Alabama than it does in almost every other state. One way of measuring this is the "regional price parities" data published by Bureau of Economic Analysis, which uses Census information and economic data to calculate the relative value of earnings in each state.
The federal data examines the cost of various goods and services, including rents. Those costs are lower in only two states, Mississippi and Arkansas.
Read more: www.al.com
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Monday, December 29, 2014
Christmas Returns Hit New High
Joel Lewin, Dec. 28, 2014, Financial Times
“The growth of ecommerce has been astronomical, but the processes to support the returns part of ecommmerce hasn’t matched it,” said Nila Patel, business development manager at Norbert Dentressangle, one of the UK’s largest parcel carriers.
Across ecommerce, returns average 15-20 per cent, although fashion eretailers see much higher rates of up to 50 per cent.
Read more: www.ft.com
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“The growth of ecommerce has been astronomical, but the processes to support the returns part of ecommmerce hasn’t matched it,” said Nila Patel, business development manager at Norbert Dentressangle, one of the UK’s largest parcel carriers.
Across ecommerce, returns average 15-20 per cent, although fashion eretailers see much higher rates of up to 50 per cent.
Read more: www.ft.com
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Saturday, December 27, 2014
Women's Apparel, Dining Drive U.S. Holiday Sales: MasterCard
Nathan Layne, Dec. 26, 2014, Reuters
The results reflected a growing consumer preference for "experience" over goods, Sarah Quinlan, a senior vice president at MasterCard, said. The "economy is very strong but they are spending in a different way," she said in an interview.
Contrary to some experts who predicted a strong showing for electronics, the category was among the weakest, with sales "basically flat" from Black Friday to Dec. 24 and in negative territory when looking at sales starting on Nov. 1, according to the report.
Read more: ca.news.yahoo.com
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The results reflected a growing consumer preference for "experience" over goods, Sarah Quinlan, a senior vice president at MasterCard, said. The "economy is very strong but they are spending in a different way," she said in an interview.
Contrary to some experts who predicted a strong showing for electronics, the category was among the weakest, with sales "basically flat" from Black Friday to Dec. 24 and in negative territory when looking at sales starting on Nov. 1, according to the report.
Read more: ca.news.yahoo.com
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Thursday, December 11, 2014
Bank Of America Sees $50 Oil As Opec Dies
Ambrose Evans-Pritchard, Dec. 9, 2014, Telegraph
Revolutionary changes sweeping the world’s energy industry will drive down the price of liquefied natural gas (LNG), creating a “multi-year” glut and a much cheaper source of gas for Europe.
Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,“ he said.
Read more: www.telegraph.co.uk
Revolutionary changes sweeping the world’s energy industry will drive down the price of liquefied natural gas (LNG), creating a “multi-year” glut and a much cheaper source of gas for Europe.
Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,“ he said.
Read more: www.telegraph.co.uk
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Saturday, December 6, 2014
Party Like It's 1929, S&P Hits 49th Closing High
Fast FT, Dec. 5, 2014, Financial Times
The S&P 500 notched its 49th record closing high of the year on Friday, as the benchmark index climbed 0.2 per cent to 2,075.55. The gain takes the number of record closes above those set in 1929, fueled in part by a blow out payrolls report that far exceeded Wall Street expectations.
Read more: www.ft.com
The S&P 500 notched its 49th record closing high of the year on Friday, as the benchmark index climbed 0.2 per cent to 2,075.55. The gain takes the number of record closes above those set in 1929, fueled in part by a blow out payrolls report that far exceeded Wall Street expectations.
Read more: www.ft.com
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Friday, December 5, 2014
These Retailers Could Use Some Holiday Cheer
Anne D'Innocenzio, Dec. 4, 2014, AP
Stores face cautious shoppers who are juggling stagnant wages and higher costs for food and health care. And Web-savvy customers are using information easily available on their smartphones to hold out for ever-better deals. All of that means that stores have had to discount more - and earlier - this holiday shopping season.
Read more: hosted.ap.org
Stores face cautious shoppers who are juggling stagnant wages and higher costs for food and health care. And Web-savvy customers are using information easily available on their smartphones to hold out for ever-better deals. All of that means that stores have had to discount more - and earlier - this holiday shopping season.
Read more: hosted.ap.org
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Wednesday, December 3, 2014
Oil At $40 Possible As Market Transforms Caracas To Iran
Gregory Viscusi, Tara Patel and Simon Kennedy, Dec. 1, 2014, Bloomberg
Few expected the extent or speed of the U.S. oil resurgence. As wildcatters unlocked new energy supplies, some oil exporters abroad failed to invest in diversifying their economies. Coddled by years of $100 crude, governments instead spent that windfall subsidizing everything from 5 cents-per-gallon gasoline to cheap housing that kept a growing population of underemployed citizens content.
Those handouts are now at risk.
Read more: www.bloomberg.com
Few expected the extent or speed of the U.S. oil resurgence. As wildcatters unlocked new energy supplies, some oil exporters abroad failed to invest in diversifying their economies. Coddled by years of $100 crude, governments instead spent that windfall subsidizing everything from 5 cents-per-gallon gasoline to cheap housing that kept a growing population of underemployed citizens content.
Those handouts are now at risk.
Read more: www.bloomberg.com
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Friday, November 28, 2014
Ohio Stores Would Pay Triple Wages To Thanksgiving Workers Under Bill By Cleveland Lawmaker
AP, Nov. 26, 2014, Cleveland.com
A lawmaker in Ohio wants stores in the state to pay triple wages for employees who work on Thanksgiving -- an effort that comes as Macy's, the holiday's quintessential retailer, is allowing its workers to choose whether to work that day.
Both are attempts to counter frustration among workers and their families over holiday store hours that have expanded into the holiday.
Read more: www.cleveland.com
A lawmaker in Ohio wants stores in the state to pay triple wages for employees who work on Thanksgiving -- an effort that comes as Macy's, the holiday's quintessential retailer, is allowing its workers to choose whether to work that day.
Both are attempts to counter frustration among workers and their families over holiday store hours that have expanded into the holiday.
Read more: www.cleveland.com
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