tag:blogger.com,1999:blog-34323687.post3051328652625427375..comments2024-03-29T12:12:06.420+00:00Comments on Macro Man: The Globalization of WagesMacro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-34323687.post-8412897305557753192014-05-08T15:30:19.499+01:002014-05-08T15:30:19.499+01:00Evariste, did you get global unemployment data goi...Evariste, did you get global unemployment data going back that far? I could only find it from the mid-late 90's.<br /><br />I guess the real pertinent issue is the change in relative correlations between the domestic unemployment rate and the global one in terms of their relationship to domestic wages.Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-19174829339903233552014-05-08T15:25:33.938+01:002014-05-08T15:25:33.938+01:00@Anon1:22
101 million Americans(working age) with...@Anon1:22<br /><br />101 million Americans(working age) without a job..so how do they survive?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-33982304447836189622014-05-08T15:01:32.467+01:002014-05-08T15:01:32.467+01:00Macroman, I drafted you chart back to the mid-1980...Macroman, I drafted you chart back to the mid-1980ies... Looks like the correlation was already pretty strong in the early 1990ies... Globalization was just beginning then. Does it change your conclusion ?evariste Lefeuvrehttp://seekingalpha.com/author/evariste-lefeuvrenoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-11934366386093074932014-05-07T16:02:03.365+01:002014-05-07T16:02:03.365+01:00Tax reform...even when the same party controled WH...Tax reform...even when the same party controled WH, senate, and house, it did not happen. go figure...<br /><br />Is growth stock going to come back after summer? Has everyone sold them and was on their way to the beach? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-78820569443826322492014-05-07T15:15:17.577+01:002014-05-07T15:15:17.577+01:00By the way, to change the topic, how many bps are ...By the way, to change the topic, how many bps are embedded in the US10Y b/c of Ukraine? What size is the mini rate spike if there is a ceasefire deal? 10? 20? Or is the bond buying due to the US economy being in rece... I mean, a soft growth period?Leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-4432069504747785692014-05-07T15:12:41.541+01:002014-05-07T15:12:41.541+01:00C is right. Fiscal stimulus with a focus on our ra...C is right. Fiscal stimulus with a focus on our rapidly decaying infrastructure. Visit Asia or Scandinavia if you want to see what modern cities look like. Visit Ashland, Ky or Huntington, W Va if you want a peek at the third world. <br /><br />It's also time for real TAX REFORM in order to finance it. Why does LB pay ~40% effective tax rate on his earnings, then pays again if he saves it, pays again (and again, annually) on the yield or dividend income if he invests it, and on the tax accountant to decipher the AMT and other bizarre perversions within the code? <br /><br />Meanwhile, Mr Billionaire "Ku Klux Klan" Koch, Henry "Million Dollar Birthday Party" Kravis and "Fuck the 47%" Mitt Romney pay a nice 13%. The super-rich need to bend over, it's simply their turn. This isn't about envy, it's about fairness. The looting has gone on long enough.Leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-29793434084661451232014-05-07T14:43:49.000+01:002014-05-07T14:43:49.000+01:00C says
Anon 122.
Thank you for the link. Makes one...C says<br />Anon 122.<br />Thank you for the link. Makes one aware yet again just how visionary someone like Goldsmith was and emphasises it in a debate with poor Charlie who can't really grasp the argument.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-74799810588297110512014-05-07T13:22:20.749+01:002014-05-07T13:22:20.749+01:00I remember Sir James Goldsmith's appearance on...I remember Sir James Goldsmith's appearance on Charlie Rose back in 1994:<br />http://www.youtube.com/watch?v=4PQrz8F0dBI <br />(5 parts)<br />I remember my father commenting, asking how the government of the US could do that to it's citizens.<br />Well they did it and my father lost his job a couple of years later.<br /><br />According to the latest BLS stats:<br /><br />April 2014:<br />9.75 million Americans are “unemployed” <br />92.02 million Americans that are “not in the labor force” <br />Total of 101.77 million working age ( Age 16-64 ) Americans without a job.<br /><br />April 2000: <br />5.48 million Americans were unemployed <br />69.27 million Americans were “not in the labor force” <br />Total of 74.75 million working age Americans without a job. <br /><br />A rise of 27 million since 2000.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-43952569991984982332014-05-07T09:45:17.402+01:002014-05-07T09:45:17.402+01:00C Says
"GL", I quote myself , "I su...C Says<br />"GL", I quote myself , "I suspect that in principle it would be easy whilst in practice virtually impossible".<br />The problem with this species is it all appears to know what it wants whilst so little of it appears to know what it needs.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-51630650334957990672014-05-07T09:41:58.781+01:002014-05-07T09:41:58.781+01:00C Says
"sads" .Freudian slip meant stand...C Says<br />"sads" .Freudian slip meant stands ,but perhaps the slip is more descriptive of the issue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-91294038615337549182014-05-07T09:40:09.652+01:002014-05-07T09:40:09.652+01:00C says
Mars,
perhaps you would be kind enough to e...C says<br />Mars,<br />perhaps you would be kind enough to explain to me an alternative method of improving the servicing of that debt other than by fiscally increasing incomes. Yes ,we know default blah,but if we wanted to do that we should have done it a few years ago. As it stands the austerity method as we see simply makes the debt/GDP ratio worse,hardly surprising. Moreover the reason why this works is because you make it virtually generic. No country get's to game it for a competitive gain which is what tends to happen with so called monetary policy.<br />Debt and excess supply ,insufficient demand is a global problem that's why it needs a global solution. As it stands each country has gone for the beggar thy neighbour approach and as it sads that does not look like it is going to do the reflation job of closing that output gap and improving servicing that debt.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-86629615135519729132014-05-07T09:24:23.001+01:002014-05-07T09:24:23.001+01:00Really? Fiscal action in a world hamstrung by debt...Really? Fiscal action in a world hamstrung by debt? GLMarshttps://www.blogger.com/profile/14011800767943990014noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-44537286624730627902014-05-07T08:43:04.280+01:002014-05-07T08:43:04.280+01:00Actually in the Uk they have been trying to do thi...Actually in the Uk they have been trying to do this in a sense by making some fairly substantial changes to the Personal tax allowances which has the same effect on disposable income as a wage increase. I think that's slipped by a bystanders and it's why the consumers being doing rather better of late in the UK.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-38464979868601786742014-05-07T08:40:04.891+01:002014-05-07T08:40:04.891+01:00C Says
It's a problem that needs fiscal action...C Says<br />It's a problem that needs fiscal action ,not monetary. Has been for a long time.<br />Indeed, you want to actually create some inflation then I suspect that in principle it would be easy whilst in practice virtually impossible. Get the G7 and preferably the G20 to increase the minimum wage level prorate across the spectrum of countries. That will chase consumption and prices up which is what they have been trying to do isn't it? Trying to do that with stagnant incomes across the mass population isn't gong to happen short of a 'war' shock.Anonymousnoreply@blogger.com