Welfare State Reform: Unemployment Insurance
For some time now I’ve believed reforming the government is a lost cause since a political organization based on coercion that can divvy up other people’s money and restrict their freedom will almost certainly be corrupt. That being said, I… Continue reading
Half of College Graduates Unemployed or Underemployed
We at Swift Economics have said several times that college degrees are overrated. And now a new report from the AP based on the 2011 Current Population Survey data by Northeastern University shows that things are not so rosy for… Continue reading
Stimulus Package Amounts to $278,000 Per Job
The White House Council of Economic Advisors released a report stating that the stimulus package saved or created 2.4 million jobs. This sounds great, but The Weekly Standard—not a paper I’m particularly fond of—actually did the math on that:… Continue reading
Household Formation Discouraging Sign for the Housing Market
As if the employment issue, 11 months of housing supply on the market, and an estimated 6 million houses waiting in the wings as “shadow inventory” wasn’t enough bad news for the real estate market, consider this: household formation has… Continue reading
What Should be Done About the Bush Tax Cuts?
There is a lot of chatter going on about the Bush tax cuts. The issue is whether to extend them, and for whom. The Obama administration wants to extend the tax cuts for those making under $200,000 per year adjusted… Continue reading
Job Numbers and Census Jobs
Given all the nonsense thats gone into the job numbers of late (see here and here), one has to wonder whether any of the economic data we use is actually valid. Well now, surprisingly, we have some more B.S.… Continue reading
Another Blow to the Real Estate Recovery
As hard as I've tried to deflect all logic and believe that real estate values are done falling, I just can't ignore the sledgehammer to my skull that is reason. I've gone to the well and reached for denial. I've dug deep into my soul for delusion. I've even, begrudgingly, pursued a special kind of ignorance. But alas, no can do. This is what I know (facts are just the worst sometimes): Continue reading
A Second Mortgage Meltdown?
As bad as all that sounds, it ignores the dire situation we are facing in a very familiar setting; the housing market. Contrary to popular wisdom, the ‘toxic assets’ have not been cleaned out. It is very likely we are heading for a second mortgage meltdown. Continue reading
Let the Jobless Recovery Continue: Unemployment Hits 26-Year High
As the jobless recovery rhetoric continues by the federal government, many have braced for October unemployment figures in the double digits. The Department of Labor released the latest unemployment data today, confirming those double digit concerns. U.S. unemployment hit 10.2% in October, up from 9.8% in September, the highest since April 1983. Continue reading
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