From Walworth County Sunday, an
Economy
City, Economy, Government Spending
Bloomberg: Jobless Claims in US Declined by 11,000 to 457,000
by JOHN ADAMS •
It’s less than we need. The story reports that a collection of local government associations estimated that, nationally, local governments may cut almost 500,000 jobs through 2011 (or 8.6% of their total workforces). These are only estimates, and they say nothing about how any particular community will fare. In any event, sacrifices should always begin…
Economy, Government Spending
Congressional Budget Office: “Federal Debt and the Risk of a Fiscal Crisis”
by JOHN ADAMS •
City, Economy, Poverty
Rethinking the U.S. Poverty Measure
by JOHN ADAMS •
I’ve written about poverty in Whitewater before, and the 2010 Census will offer fresh information on the state of Whitewater’s economy. It’s a subject that cheerleaders for the town probably wish would go away. An ordinary person would prefer economic arrangements that make poverty go away, but there you see the distinction between sensible &…
Economy
The Economy Isn’t “On the Mend” (But an Acknowledgment that Tax Cuts Increase Economic Growth)
by JOHN ADAMS •
There’s a story at the GazetteXtra.com about nearby Rock County’s unemployment rate, now at a staggering 10.8%. That’s up from 10.4%. Rock County’s unemployment rate, a year ago, was 13.2%. Here’s what Wisconsin’s chief economist had to say about the current, 10.8% rate: “That’s to me … pretty good news,” said Dennis Winters, chief labor…
Economy, Government Spending
After Job Training, Many Still Scrambling for Employment – CNBC
by JOHN ADAMS •
Economy, Government Spending
Milwaukee Journal Sentinel: Wisconsin Lost 1,000 Private Sector Jobs in June
by JOHN ADAMS •
There can be no true recovery in which aggregate private sector jobs are lost. Yet, Wisconsin lost 1,000 private sector jobs last month. The answer to private sector struggles is a reduction of the public policies of taxing, spending, and regulating. See, Milwaukee Journal Sentinel: Wisconsin Lost 1,000 Private Sector Jobs in June
Economy
The Worst Ecological Disaster Ever? Looking Beyond the Gulf
by JOHN ADAMS •
I’m sure that I’ve thought, of the oil spill in the Gulf, that it must be the worst ecological disaster in our history. At Commentary, John Steele Gordon asks the question, “The Worst Ecological Disaster Ever?” and concludes that the Gulf spill’s not our worst experience. He offers some experiences far worse: ….how about the…
City, Economy, Planning
Meeting with Confidence the Challenge of the Hard Economic Times Likely Ahead
by JOHN ADAMS •
It’s seems ever clearer that there is no “Recovery Summer” in store this year for America’s economy. The problems of the last few years haven’t been solved. What will happen next is disputed, between those who see a second recession, those who see growth so weak it will feel like a recession, and those who…
Economy, Free Markets, Law, Laws/Regulations, Politics
Milk, Wisconsin Dairies, Competition, and Anti-Trust
by JOHN ADAMS •
Jessica Vanegeren of the Capital Times has a thorough story online about the dairy industry in Wisconsin and beyond, entitled, Does Dean Foods Have Unfair Advantage? Hers is thorough description of the Wisconsin dairy scene, emphasizing the influence of Dean Foods. I would only add that our outgoing governor has shown himself susceptible of pressure…
City, Economy, Government Spending
After Ineffective Spending, an Effective Comparative Advantage Solution
by JOHN ADAMS •
There are two recent stories that highlight the challenges facing the national economy, and that implicitly show the impossibility of a national solution to Whitewater, Wisconsin, or any other small town. One has probably read that U.S. Representative Ryan of Wisconsin said that he thought of “the stimulus as a sugar high.” See, Top Republican:…
City, Economy
U.S. Private-sector Job Growth Lags in June – JSOnline
by JOHN ADAMS •
The stark numbers, and then the stark reality: The economic recovery limped ahead last month as the nation’s private-sector employers added an anemic 83,000 jobs – a pace far too slow to replace the 8.5 million jobs obliterated by the recession. June marked the second consecutive month of wheezing private-sector job creation, and long-term unemployment…
City, Economy, Government Spending
Forewarned is Forearmed: Facing the Tough Going Ahead
by JOHN ADAMS •
Dr. James Hussman, of the Hussman Funds wrote recently that he sees a possibility of a second recession in the offing. (I have no connection to the fund.) He writes that “[b]ased on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a…
City, Economy, Government Spending
Wall Street Journal: The Keynesian Dead End
by JOHN ADAMS •
There’s an editorial from last week’s Wall Street Journal entitled, The Keynesian Dead End: Spending our way to prosperity is going out of style. (In fairness, many plans implemented as “Keynesian” would probably shock Keynes, himself. To reflect this truth, the WSJ refers to recent policies Neo-Keynesian. Emphasis on the “neo,” I wouldn’t wonder.) The…