Beat the Press

Beat the press por Dean Baker

Beat the Press is Dean Baker's commentary on economic reporting. He is a Senior Economist at the Center for Economic and Policy Research (CEPR). To never miss a post, subscribe to a weekly email roundup of Beat the Press. Please also consider supporting the blog on Patreon.

I guess this just shows that, in some circles, it’s always a good time to call for a Volcker-type recession.
I guess this just shows that, in some circles, it’s always a good time to call for a Volcker-type recession.
Many folks want to tell this story about the economy today. However, there is a big problem, the data won’t cooperate. Wage growth is not accelerating, it’s slowing.
Many folks want to tell this story about the economy today. However, there is a big problem, the data won’t cooperate. Wage growth is not accelerating, it’s slowing.
Data show that people are paying capital gains tax on the money they made in the stock market, not spending down savings.
Data show that people are paying capital gains tax on the money they made in the stock market, not spending down savings.
The price of a ton of the steel highlighted in the May 2021 piece is now down more than 40 percent from its May 2021 price.
The price of a ton of the steel highlighted in the May 2021 piece is now down more than 40 percent from its May 2021 price.
It would be truly ironic if we were to transfer still more income upward, with increased subsidies for research and development, with the gains locked down by a small elite with their patent and copyright monopolies.
It would be truly ironic if we were to transfer still more income upward, with increased subsidies for research and development, with the gains locked down by a small elite with their patent and copyright monopolies.
Neoliberal types are just fine with all sorts of government interventions that redistribute income upward. They just get upset when the government intervenes in ways that redistributes from those on top to the rest of us.
Neoliberal types are just fine with all sorts of government interventions that redistribute income upward. They just get upset when the government intervenes in ways that redistributes from those on top to the rest of us.
If Washington Post reporters and editors had access to the Washington Post, they would know that the Federal Reserve Board was ostensibly worried about the economy growing too rapidly, thereby triggering inflation.
If Washington Post reporters and editors had access to the Washington Post, they would know that the Federal Reserve Board was ostensibly worried about the economy growing too rapidly, thereby triggering inflation.
The network’s coverage of the economy has been inflation, inflation, inflation 24-7. But inflation is not the whole story of the economy. We also have unemployment that is near 50-year low. That is a really big deal.
The network’s coverage of the economy has been inflation, inflation, inflation 24-7. But inflation is not the whole story of the economy. We also have unemployment that is near 50-year low. That is a really big deal.
The pattern of wage-growth we are seeing is not consistent with a wage-price spiral story. The Fed would be making a bad mistake if it raises rates as though it were responding to one.
The pattern of wage-growth we are seeing is not consistent with a wage-price spiral story. The Fed would be making a bad mistake if it raises rates as though it were responding to one.

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