Summary: I try to bring readers useful and interesting expert opinion. Here's a mother lode of insight about immigration -- articles by Harvard professor George Borjas. His work is essential reading to understand the rise of populism in the US and Europe (it's not just racism and xenophobia, as our elites would like you to … Continue reading A Harvard Professor explains the populist revolt against immigration & globalization
Summary: The jobs report is a monthly gift for journalists and economists. Packed with numbers -- mostly noise, with large error bars, subject to big revisions -- it generates a flood of clickbait headlines and confident analysis. Lost in this are the important trends we need to know (aka "old news", because they change slowly). … Continue reading You need to know 2 things about the June jobs report (neither is often mentioned)
Summary: Why did UK elites have a hysterical reaction to the vote for Brexit? There is not one answer. Andrew Fentem (engineer, inventor) explains one logical answer: it threatens their supply of cheap workers. Also, I recommend putting The Register on your reading list if you are interested in the IT industry (changing times requires new … Continue reading A UK engineer explains: elites oppose Brexit because they import cheap workers
Summary: After years of disappointment, a happy few retain their optimism about the US economy's growth -- including many of the Fed's governors, hence their enthusiasm about raising interest rates. Here you'll see one reason they're excited, the sad reality behind it, and the logical but dark conclusion. Business Insider said "Job openings rise … Continue reading Why the Fed is excited about US growth. Why they’re wrong.
Summary: Amidst the cheering about the latest strong jobs report, some analysts puzzle about the failure of wages to rise as strongly. The answer is simple. Job growth is weak, not strong. It's even slower than US population growth. Of course wages are weak. The coming new industrial revolution will make today's job market look … Continue reading Strong job growth. Weak wages. What’s wrong with this picture?