Skip to main content

Economics Daily Digest by the Roosevelt Institute banner

By Rachel Goldfarb, originally published on Next New Deal

Click here to subscribe to Roosevelt First, our weekday morning email featuring the Daily Digest.

You Thought the Mortgage Crisis Was Over? It's About to Flare Up Again (TNR)

With a large number of mortgage relief measures scheduled to end in the coming year, David Dayen says that many foreclosures will seem as though they were only deferred from 2008.

Why the Robots Might Not Take Our Jobs After All: They Lack Common Sense (NYT)

Neil Irwin reports on MIT labor scholar David Autor's new paper, which argues that robots can't handle common-sense decision making, so they'll only be able to replace certain kinds of jobs.

  • Roosevelt Take: Autor presented a version of this scenario in his video speculation for the Next American Economy project.

Middle Class is Excluded from America's Economic 'Recovery' (The Guardian)

Heidi Moore points out that the recovery isn't much of one for most Americans, and the economists who gathered in Jackson Hole this weekend can't do much to fix that.

Fed Chair Cautious on Timing of Rate Rises, Questions Health of Job Market (AJAM)

Janet Yellen's first speech at the Jackson Hole conference defended her approach, arguing that caution is still needed because the long-term effects of the recession aren't yet clear.

Could America Accept Another FDR? (WaPo)

Fred Hiatt wonders whether modern political discourse and journalism would permit another person like Franklin D. Roosevelt, with his illness and complicated family, to make it to the White House.

Middle Class Households' Wealth Fell 35 Percent from 2005 to 2011 (Vox)

Danielle Kurtzleben reports on new data from the Census Bureau, which shows a dramatic change in U.S. households' net worth, particularly for the bottom three quintiles.

New on Next New Deal

The Ferguson Challenge to the Libertarians

Roosevelt Institute Fellow Mike Konczal says the profit-motivated criminal justice system in Ferguson, heavy on court fees and fines, looks a lot like the libertarian ideal of privatization – and it isn't working.

Originally posted to Daily Kos Economics on Mon Aug 25, 2014 at 05:11 AM PDT.

Also republished by Daily Kos.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Interest Rates / Inflation (2+ / 0-)
    Recommended by:
    eyo, Amber6541

    I think we need to be honest about why there is this sudden push for higher interest rates now now now. It's not about warding off impending inflation, nor is it about "maintaining financial stability". The reality is that the Fed's QE programs massively inflated asset prices everywhere, resulting in huge capital gains on paper for the super wealthy, who now demand that there be a reasonably high risk-free rate to transition their gains into.  If the super wealthy have their way, rate hikes will begin within the next year, effectively resulting in yet another redistribution away from labor and toward capital.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Mon Aug 25, 2014 at 09:01:27 AM PDT

    •  Cute, but unlikely. (0+ / 0-)
      who now demand that there be a reasonably high risk-free rate to transition their gains into.
      Extraordinary claims require extraordinary evidence.

      This is a cute stepping off point for some very interesting conspiracy theories, but it is not a better explanation than normal data-derived projections.

      -7.75 -4.67

      "Freedom's just another word for nothing left to lose."

      There are no Christians in foxholes.

      by Odysseus on Mon Aug 25, 2014 at 09:50:57 AM PDT

      [ Parent ]

  •  The poor middleclass recovery is easy ... (0+ / 0-)

    to explain. Both Bush and Obama favored Wall St over Main St. Lots of bail-out for Wall St, but little real stimulus for Main St.

    Tax Cuts don't do much for a person who is out of work. But Tax Cuts were part of the so-called stimulus package. Meh!

  •  We neeed a New New Deal in this country (0+ / 0-)

    Spend 15 trillion (yes with a T) over the next 10 years, upgrading our education system, our infrastructure,, protecting our parks and in general putting people back to work.

    1 Create a Department of Conservation and have it consist of 6 agencies: BLM, a revived and permanent CCC, EPA, FWS, NFS and NPS. Create 200 additional national monuments, at least 2 in every state, and hire anyone over 18 to establish infrastructure in those monuments and parks. Many of our national parks had their infrastructure put in by the original CCC. Give every state 5 billion a year for conservation purpose: a total of 50 billion over 10 years per state. Spending: 120 billion per year for Conservation(20 billion per agency), 250 billion per year countrywide: total of 3.7 trillion

    2 Education: Give each state 5 billion a year in upgrading and improving the quality of education across the country just because you live in inner city Milwaukee shouldnt mean you don't have same opportunity to graduate that some in Mequon does. Eliminate charter schools , only schools are public or private religious. Spending 250 billion per year countrywide total of 2.5 trillion

    3 Infrastructure: Repair and upgrade the power grid, roads, railroads, and stop sprawl in the West and Midwest.Remove Dams in much of the West, such as Hetch Hetchy in CA and Glen Canyon in Utah, and let nature slowly restore itself. implent high speed rail connecting major cities across the country, with top speeds of 250 mph. If Mexico can put in high speed rail, so can we. Revive the Works Progress Administration and add it to Interior. Spending 400 billion per year,total  4 Trillion
    4 Research And Development Give more money to research so cures for things like cancer, depression,Parkinsons, AIDs and other diseases can be found . Increase funding for NASA, so that we once again go to the moon, to Mars, maybe, one day worlds outside the solar system. Give each state 5 billion a year towards research, NASA gets 50 billion a year. Spending 250 billion Countrywide NASA 50 billion Total 3 trillion
    5 Workforce projects  Put people to work, connecting the country to the internet at high speed, conduct Archeological digs to identify protect and preserve Indian sites like those in Utah and Arizona and toughout the southwest, seat the St Lawrence Seway and the Chicago sanitary canal to prevent invasive species from further harming the Great Lakes, and restore the coastlines of the Gulf and the Everglades: spending 180 billion countrywide per year 1.8 Trillion total
     I estimate that these programs could create 100 million jobs, if not more, the taxes paid by the workers would stabilize SS and Medicare for decades to come.the improvements made by these efforts would result in an increase of trillions a year to our GDP and GNP, allowing us to absorb the costs quite quickly.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site