Tuesday, September 12, 2017

Paul Krugman: When the President Is Un-American



----
Paul Krugman: When the President Is Un-American // Economist's View
http://economistsview.typepad.com/economistsview/2017/08/paul-krugman-when-the-president-is-un-american.html

"we don't need to wonder whether an anti-American cabal ... has seized power in Washington. It has:":

When the President Is Un-American, by Payl Krugman, NY Times: ...what makes America America is that it is built around an idea: the idea that all men are created equal, and are entitled to basic human rights. Take away that idea and we're just a giant version of a two-bit autocracy. ...

Real Americans understand that our nation is built around values, not the "blood and soil" of the marchers' chants; what makes you an American is your attempt to live up to those values, not the place or race your ancestors came from. ...

But the man who began his political ascent by falsely questioning Barack Obama's place of birth — a blood-and-soil argument if ever there was one — clearly cares nothing about the openness and inclusiveness that have always been essential parts of who we are...

Real Americans understand that our nation was born in a rebellion against tyranny. They feel an instinctive aversion to tyrants..., and an underlying sympathy for democratic regimes...

But the present occupant of the White House has made no secret of preferring the company, not of democratic leaders, but of authoritarian rulers...

Real Americans expect public officials to be humbled by the responsibility that comes with the job. They're not supposed to be boastful blowhards ... like Trump...

Real Americans understand that being a powerful public figure means facing criticism... Foreign autocrats may rage against unflattering news reports, threaten to inflict financial harm on publications they dislike, talk about imprisoning journalists; American leaders aren't supposed to sound like that.

Finally, real Americans who manage to achieve high office realize that they are ... meant to use their position for the public good. ... Now we have a leader who is transparently exploiting his office for personal enrichment, in ways that all too obviously amount in practice to influence-buying by domestic malefactors and foreign governments alike.

In short, these days we have a president who is really, truly, deeply un-American, someone who doesn't share the values and ideals that made this country special...., it's remarkable that Trump won't even pretend to be outraged at Putin's meddling with our election. ...

Whatever role foreign influence may have played and may still be playing, however, we don't need to wonder whether an anti-American cabal, hostile to everything we stand for, determined to undermine everything that truly makes this country great, has seized power in Washington. It has: it's called the Trump administration.


----

Read in my feedly.com

Income growth in 2016 is strong, but not as strong as 2015 and more uneven



----
Income growth in 2016 is strong, but not as strong as 2015 and more uneven // Economic Policy Institute Blog
http://www.epi.org/blog/income-growth-in-2016-is-strong-but-not-as-strong-as-2015-and-more-uneven/

Today's report from the Census Bureau shows strong across-the-board improvements to household incomes in 2016. Household incomes rose 3.2 percent, after an impressive 5.2 percent gain in 2015; non-elderly households saw a similar rise of 3.6 percent this year after gaining 4.6 percent the year before. However, inflation-adjusted full-time annual earnings for men fell slightly in 2016, 0.4 percent, while women working full time saw an earnings increase of 0.7 percent. Men's earnings are still below their 2007 level (by 1.1 percent points), while women's earnings are now 2.3 percent above. Better across-the-board earnings growth would have made this year's income report unambiguously excellent news, much like the 2015 report. This year's report is mostly encouraging, but wages need to make strong and sustained gains before we can rest easy about how the economy is working for typical American households.

While the gains in household income are not as impressive as the previous year, they nonetheless represent significant improvements. Part of this year's slowdown in income growth relative to 2015 simply represents a small inflation bounce back. In 2015, plunging energy prices led to essentially zero inflation. In 2016, inflation rebounded to a still-low 1.3 percent. Besides representing a small slowdown in the pace of income growth, this year's report reminds us that the vast majority of household incomes (when corrected for a break in the data series in 2013) have still not fully recovered from the deep losses suffered in the Great Recession—the bottom 80 percent of households had incomes in 2016 just at or below those of 2007 (while those in the top five percent are now 8.7 percent ahead). One more year of modest growth will likely bring the broad middle class back to pre-recession incomes.

Read more


----

Read in my feedly.com

New census data show strong 2016 earnings growth across-the-board, with black and Hispanic workers seeing the fastest growth for second consecutive year



----
New census data show strong 2016 earnings growth across-the-board, with black and Hispanic workers seeing the fastest growth for second consecutive year // Economic Policy Institute Blog
http://www.epi.org/blog/new-census-data-show-strong-2016-earnings-growth-across-the-board-with-black-and-hispanic-workers-seeing-the-fastest-growth-for-second-consecutive-year/

Today's Census Bureau report on income, poverty, and health insurance coverage in 2016 shows that median household incomes for all race and ethnic groups increased between 2015 and 2016. Encouragingly, groups that, by and large, had seen the worst losses in the years since the Great Recession saw the biggest earnings gains for the second consecutive year. Real incomes increased 5.7 percent (from $37,365 to $39,490) among African Americans, 4.3 percent (from $45,719 to $47,675) among Hispanics, 4.2 percent (from $78,143 to $81,431) among Asians, and 2.0 percent (from $63,747 to $65,041) among non-Hispanic whites. The increase in incomes was statistically significant for all groups except Asians, resulting in some improvement of racial and ethnic income gaps between 2015 and 2016. The median black household earned just 61 cents for every dollar of income the white median household earned (up from 59 cents), while the median Hispanic household earned just 73 cents (up from 71 cents). Meanwhile, households headed by persons who are foreign-born saw an increase in incomes of 4.9 percent between 2015 and 2016 (from $52,956 to $55,559), compared to an increase of 3.3 percent (from $57,896 to $59,781) among households with a native-born household head.

Figure A

Based on EPI's imputed historical income values (see the note under Figure A for an explanation), real median household incomes for all groups, except Hispanics, remain below their 2007 levels.  Compared to 2007, 2016, median household incomes are down 1.5 percent (-$595) for African Americans, 1.2 percent (-$781) for non-Hispanic whites and 1.4 percent (-$1,158) for Asians, but increased 9.9 percent ($4,295) for Hispanics. Asian households continue to have the highest median income, despite large income losses in the wake of the recession.

The primary driving force behind the slow return to pre-recession income levels has been stagnant wage growth. Real wages had been essentially flat since 2000, but wage growth received an added boost in 2015, as a result of low inflation. Relative to the pre-recession levels in 2007, 2016 real earnings of men working full-time, full-year are up for all race and ethnic groups—white men (4.8 percent), Hispanic men (17.9 percent), and black men (14.9 percent).  As a result, the black-white and Hispanic-white male earnings gaps narrowed slightly. Black men earned 71 cents for every dollar earned by white men in 2016 (compared to 65 cents/dollar in 2007) and Hispanic men earned 66 cents on the dollar (compared to 58 cents/dollar in 2007).

Figure B

Read more


----

Read in my feedly.com

Poverty declined modestly in 2016; government programs continued to keep tens of millions out of poverty



----
Poverty declined modestly in 2016; government programs continued to keep tens of millions out of poverty // Economic Policy Institute Blog
http://www.epi.org/blog/poverty-declined-modestly-in-2016-government-programs-continued-to-keep-tens-of-millions-out-of-poverty/

From 2015 to 2016, the official poverty rate fell by 0.8 percentage points, as household income rose modestly, albeit unevenly, throughout the income distribution. This was the second year in a row that poverty declined, and at 12.7 percent, the official poverty rate in 2016 was statistically the same as it was in 2007, just prior to the Great Recession. The poverty rate remains significantly higher than the low point of 11.3 percent it reached in 2000.

Since 2010, the U.S. Census Bureau has also released an alternative to the official poverty measure known as the Supplemental Poverty Measure (SPM).1

The SPM corrects many potential deficiencies in the official rate. For one, it constructs a more realistic threshold for incomes families need to live free of poverty, and adjusts that threshold for regional price differences. For another, it includes as income many resources available to poor families, such as Medicare, food stamps, and other in-kind government benefits.

Read more


----

Read in my feedly.com

Enlighten Radio Podcasts:Podcast: The Are You Crazy Show: Love and Hate, Faith and Community in era of Trump

John Case has sent you a link to a blog:



Blog: Enlighten Radio Podcasts
Post: Podcast: The Are You Crazy Show: Love and Hate, Faith and Community in era of Trump
Link: http://podcasts.enlightenradio.org/2017/09/podcast-are-you-crazy-show-love-and.html

--
Powered by Blogger
https://www.blogger.com/

Friday, September 8, 2017

Enlighten Radio Podcasts:Podcast: Winners and Losers: Economic Definition of Fascism, North Korean history, Kim Jong Un -- Sept 8 2017

John Case has sent you a link to a blog:



Blog: Enlighten Radio Podcasts
Post: Podcast: Winners and Losers: Economic Definition of Fascism, North Korean history, Kim Jong Un -- Sept 8 2017
Link: http://podcasts.enlightenradio.org/2017/09/podcast-winners-and-losers-economic.html

--
Powered by Blogger
https://www.blogger.com/

Enlighten Radio Podcasts:Podcast: Winners and Losers, Sept 7, 2017 -- Hurricanes and Politics from the Moose Turd Cafe

John Case has sent you a link to a blog:



Blog: Enlighten Radio Podcasts
Post: Podcast: Winners and Losers, Sept 7, 2017 -- Hurricanes and Politics from the Moose Turd Cafe
Link: http://podcasts.enlightenradio.org/2017/09/podcast-winners-and-losers-sept-7-2017.html

--
Powered by Blogger
https://www.blogger.com/