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Tag: economics

Minimum Wage

From Five Thirty-Eight: According to the survey, in 2013 more than 25 million people earned less than $10.10 an hour, which amounts to an annual salary of roughly $21,000. That’s nearly eight times the number of Americans who work for the current minimum wage of $7.25 an hour or less. Low-wage workers tend to be older […]

Beer of Choice

The Economics of Sex

A brilliant take-down (read the whole thing): The longer I live and the more I read and the deeper I fall in love and the less I give a fuck and the more patience I lose and the more perspective I gain, the more certain I become that the people who most aggressively try to […]

Pay Your Employer

Just what we always wanted! Republican Governor Tom Corbett is deciding whether or not to sign legislation that would require some workers to pay taxes to their bosses. Yes, you read that right. The bill, which would allow companies that hire at least 250 new workers in the state to keep 95-percent of the workers’ withheld […]

Walmart Union Strategy

Click here for the whole thing, but here’s a taste: The Walmart strikes are part of a significant reevaluation of organizing strategy by labor unions and activists in the context of the continuing decline of unionism in the United States — where fewer than 7 percent of workers in the private sector belong to a […]

Facebook IPO

People generally buy stocks for one of two, somewhat related reasons: because they think that the value will rise in the long-term, or because they think the value will rise in the short term. The Facebook IPO has been a debacle, we are told, and the evidence is that the share price has declined from […]

Food Disparity

A fascinating photographic look at food disparity, highly recommended.

Thoughts from a Stand-Up Economist

This is “Shit Happens: The Economics Version”

Apple Cash

The amount of cash that Apple has on hand – about $100 billion – has led to pressure that it “do something” with it. This pressure has come from shareholders, and the media, in covering this clamor, has added to it. The result? Apple has said it will use its cash to start paying a […]

Rent

Tide

A new crime wave sweeping the country: “These are criminals coming into the store to steal thousands of dollars of merchandise,” said Detective Harrison Sprague of the Prince George’s County, Md., Police Department, where Tide is known as “liquid gold” among officers. He and other law enforcement officials across the country say Tide theft is […]

Pets

From the BBC: Pet services includes grooming, boarding, pet hotels, and pet-sitting. Spending on pet services should continue to grow and reach $4.11bn (£2.59bn) by the end of 2012, said APPA President Bob Vetere. Pet insurance is expected to be another growth area, with spending estimated at $450m (£284m) in 2011. A wide range of […]

Corporate Money Everywhere

Did you hear the news? Volkswagen made a nifty profit of $21.2 billion last year. Meanwhile Apple is sitting on $98 billion worth of cash and doesn’t know what to do with it all.

Apple Factories

If Apple – one of the largest and most profitable companies in the world – were genuinely interested in uncovering and eliminating abuses of working conditions in its overseas factories, it would have selected the WRC to inspect its factories, rather than the FLA. This New York Times article, in its “balanced” way, only begins […]

Bonuses

The Royal Bank of Scotland is a nationalized bank in the UK; 82% of its shares are owned by the British public following a bailout of RBS by that same British public. And although its CEO, Stephen Hester, receives a £1.2m salary, he was recently awarded a £963,000 bonus in shares. This led to an […]

Foreclosure

The law firm of Steven J. Baum, based in Buffalo, NY, represents many of the major banks in their foreclosure proceedings against homeowners. As described by the New York Times, they recently settled a lawsuit by the Justice Department, for $2 million, because the firm had “filed misleading pleadings, affidavits, and mortgage assignments in the […]

Occupy Cable News

One of the impacts of the Occupy movement has been a shifting of the political dialogue and discourse in this country – much needed, and much appreciated. This change is illustrated in the following graphs from Think Progress, which I found interesting: During the last week of July, economic discussion on cable news looked like […]

Cramdown

Via Atrios: Assholes Timmeh And Larreh. In the fall of 2008, Democrats saw a good opportunity to pass cramdown. The $700 billion TARP legislation was being considered, and lawmakers thought that with banks getting bailed out, the bill would be an ideal vehicle for also helping homeowners. But Obama, weeks away from his coming election, […]

Unemployment & Suicide

From an excellent article: The unemployed commit suicide at a rate two or three times the national average, researchers estimate. And in many cases, the longer the spell of unemployment, the higher the likelihood of suicide. On online fora such as Unemployed-Friends, the topic comes up often, users finding news reports or hearing tell of […]

Who Owns Your Mortgage?

A fellow named Dan Edstrom wanted to track his mortgage, and fortunately, he’s in the right profession: He performs securitization audits (Reverse Engineering and Failure Analysis) for a company called DTC-Systems. The following flow chart reverse engineers the mortgage on the Ekstrom family residence. It took Dan over one year to take it this far […]