The Average Duration of Unemployment

The average duration of unemployment in 2014 is still higher than it was in 2010. I’ve written a great deal over the years about the decrease in the labor force participation rate and its implications for the U.S. economy. But, frankly, this took me by surprise. Anyone who still thinks the U.S. economic “recovery” is real should check their privilege. Continue Reading →

The One Trillion Dollar Coin

Default is a failure to make payments on debt obligations when the payment is due. … But … the government has a steady stream of tax revenue arriving every second. It is up to government officials … to decide the uses to which that tax revenue is put. They can choose to not pay the debt obligations but let’s be clear on one thing: default is a choice, not a necessity. Continue Reading →