Around The Dial – May 25, 2011
Economic policy reports, blog postings, and media stories of interest:
- Rortybomb points out that recessions are bad for new businesses.
- Economist’s View notes that the Affordable Care Act is working.
- Martin Wolf doesn’t think Europe should control the IMF.
- Off the Charts thinks about changes in “deep poverty.”
- Economix analyzes “the rise in Pell grants.”
Manufacturing In The South Atlantic: May
From the Federal Reserve Bank of Richmond’s latest survey of manufacturing activity in the South Atlantic (District of Columbia, Maryland, North Carolina, South Carolina, Virginia and West Virginia):
Manufacturing activity in the central Atlantic region paused in May, after expanding during the previous seven months, according to the Richmond Fed’s latest survey. The index of overall activity was pushed into negative territory by weak readings for shipments and new orders, while employment growth held steady. Other indicators suggested additional softness. District contacts reported that capacity utilization turned negative and backlogs fell further, while delivery times grew more slowly. In addition, manufacturers reported an uptick in finished goods inventory growth.
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Despite the recent decline in activity, manufacturers were generally optimistic about their future prospects in May. Survey contacts at an increasing number of firms looked for solid growth in shipments, new orders, capacity utilization and capital expenditures over the next six months
Around The Dial – May 24, 2011
Economic policy reports, blog postings, and media stories of interest:
- The Swedish Chef weighs in on tax policy.
- Economist’s View points out how financially fragile households are.
- Marshall Auerback isn’t a fan of the debt ceiling.
- Economix thinks about a living wage for New York City.
- Lawrence Mishel notes that the U.S. isn’t broke.
Pravda Would Be Proud
James Galbraith is not a fan of regressive budget cuts.
In economic policy, magicians and necromancers have taken charge, brewing a toxic vat of program cuts and deregulation, from which they promise that, somehow, jobs will emerge. Serious people cite serious people on the subject of what serious people permit themselves to think. Meanwhile, the crisis in the country deepens, and hopes for a coherent strategic response to it recede.
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You can see this in the content just revealed of the latest budget deal, which – as we increasingly face an environmental challenge and an energy crisis – targets the Environmental Protection Agency and the transportation system. And in the service of what? Deficit control and debt reduction. On this subtle, technical and deservedly obscure topic, today everyone is an expert because everyone adheres to the one true thought. We are witnessing one of the greatest waves of mass hysteria of all time, the fruits of one of history’s most intense and successful propaganda campaigns.
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