PAYGO (Pay As You Go) is a Federal budget rule requiring that new legislation, affecting revenues and spending on entitlement programs, taken as a whole, does not increase budget deficits. That sounds constructive but, as we all know, the Federal budget continues to reflect deficit spending and the national debt continues to increase. Endless deficit … Continued
Trulia, an online residential real estate site for home buyers, sellers, renters and real estate professionals, has recently provided data suggesting that rising housing prices are putting America’s largest metropolitan areas out of reach for teachers and first responders. Trulia’s study defines affordability as a household spending 31% of its monthly income on housing, assuming … Continued
This is the title of a 1977 country music song written by David Allan Coe and popularized by Johnny Paycheck. In January 2017, the number of people quitting their jobs rose to a seasonally-adjusted total of 3.22 million, the highest number since February 2001. The new high in job quitters comes following a number of … Continued
According to Wikipedia, compromise is to make a deal between different parties where each party gives up part of their demand. The statement “politics is the art of compromise” is a misquotation of a comment attributed to Chancellor Otto von Bismarck, who actually said, “politics is the art of the possible, the attainable – the art … Continued
It is clear that there have been significant increases in U.S. household wealth since the depths of the 2009 financial crisis, largely due to substantial increases in stock market and home valuations. In the past, large gains in household wealth have stimulated higher levels of consumer spending. This does not appear to be the case … Continued
There really shouldn’t be any question that climate changes. The real issues are; what is the rate and direction of change, what is causing it, what can or should be done about it and what makes economic sense? These are important questions. Unfortunately, they would be difficult to answer under the best of circumstances, but … Continued
In the financial markets, change tends to be measured in one of two ways, numerically, that is, the Dow Jones was up 100 points today, or, as a percentage, the Dow Jones was up approximately 0.5%. While both methods of measurement say the same thing, under some circumstances they may not be immediately seen as … Continued
So began a 1923 magazine advertisement that became legendary. The ad was developed to sell a car, the Jordan “Playboy”. Previously, car ads concentrated on practicalities, such as engine size, the number of forward gears and special features. “Somewhere West of Laramie” changed all that, to highlight the automobile as a path to adventure, as … Continued
According to Wikipedia, corporate governance broadly refers to the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures are intended to identify the distribution of rights and responsibilities among different stakeholders, including; boards of directors, management, employees, shareholders, creditors, auditors, regulators and others. Interest in the corporate governance practices of modern … Continued
Over the last several months there has been a lot of discussion regarding regulation. Much of the discussion has tended to focus on regulation as an instrument to further controversial policies. It is important to recognize that regulation is not inherently bad. Society needs constructive regulation in order to function and provide all parties with … Continued
California is seeing a marked improvement in the availability of water supplies, which has led several water agencies, including San Diego and Orange counties, to declare an end to drought conditions. The gains are significant. The early February survey, conducted by the California Department of Water Resources, indicated that the statewide snow pack stood at … Continued
First, thanks to Alfred E. Newman and Mad magazine. The conventional wisdom among economists has generally held that people don’t like uncertainty and the unknowable. When faced with the prospect of disruption and changes without clear outcomes, they become less confident and more cautious about making big decisions, particularly as they relate to finances. Over … Continued
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