Each time I go directly from Kansas City, Mo./Kan. to Portland, OR — or from Portland, Ore. to Kansas City, Kan./Mo. — I am struck by cognitive dissonance.
There is a very large gulf between what I see around me and what, say, the charts people put up on the screen for … More >
Last year, during the holiday season the price of gasoline was at $3.57/gallon, which restricted the financial choices of everyday Americans. Actually from 2005 we consumers gradually adjusted to higher prices of oil. The adjustment wasn’t easy. Many lower-income individuals who purchased new homes far from work realized that they … More >
The rapid fall in oil prices seems to have taken everyone by surprise. I’ve noted before that it puts the viability of the Keystone XL project in doubt. But its other effects are worth considering.
Overall, the fall in prices should have a beneficial effect on the U.S. economy. Since gasoline … More >
With the release of the (mostly) triennial Survey of Consumer Finances (SCF) from the Federal Reserve, it is once again time to look at trends in wealth. The SCF is one of the best sources for data on net worth (assets minus liabilities) in the U.S.
In … More >
After years of mismanagement and looting, Ukraine faces a number of economic challenges. The situation is so critical that weak economic performance in the next few years could undermine the very independence of the country. Just yesterday, President Poroshenko signed a degree setting up the National Council for Reforms to … More >
Ukraine is living through most trying times: Maidan protests, snipers killing dozens of unarmed protesters, the fall of Viktor Yanukovych’s regime, near-default of the government, Russian annexation of Crimea, and Russian-sponsored separatist mutiny in Ukraine’s East.
With the victory of the February revolution, the new government, and the new elected president … More >
More Americans than ever believe the economy is rigged in favor of Wall Street and big business and their enablers in Washington. We’re five years into a so-called recovery that’s been a bonanza for the rich but a bust for the middle class. “The game is rigged and the American … More >
What does the Supreme Court’s McCutcheon decision this week have to do with today’s jobs report, showing 192,000 new jobs for March?
Connect the dots. More than five years after Wall Street’s near meltdown the number of full-time workers is still 4 million less than it was in December 2007, yet the … More >
By Andrew Healy and Gabriel Lenz
In the U.S., we — the voters — elect our presidents using a potentially problematic decision rule: we largely decide who will be president based on the election-year economy (1, 2, 3). If the economy is on an upswing before the election, we usually retain … More >