Daily Digest - January 28: Central Bankers Just Don't Understand

Jan 28, 2013Tim Price

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The Fed Is More Out of It Than You Thought It Was (Bloomberg)

Roosevelt Institute Fellow Mike Konczal argues that transcripts show the Fed failed to grasp that the economy was (and is) weak because consumers are worried about how they're going to pay their bills, not about how the execs at Citigroup are holding up.

A New Housing Boom? Don't Count on It (NYT)

Robert Shiller writes that no matter how many times we hear that the housing market is finally, maybe, really turning around this time, there's still so much uncertainty that predicting a definite spike in prices is just blowing smoke -- or, in this case, bubbles.

The urgency of growth (WaPo)

E.J. Dionne looks at the emerging consensus that reducing the deficit, ending dependency, and strengthening capitalism depends on promoting economic growth, which means doing the opposite of Republicans who claim to want all of those things.

Makers, Takers, Fakers (NYT)

Paul Krugman writes that while Republicans like Bobby Jindal have begun to acknowledge that being identified as the party of the rich is a problem for them, their big rebranding plan is the equivalent of throwing on a pair of glasses and a fake mustache.

The GOP Crackup: How Obama is Unraveling Reagan Republicanism (Robert Reich)

Reich writes that Barack Obama has turned existing fractures in the Republican coalition into open fissures, and the party's demographic decline is accelerating as voters get a good look at what they're like when the businessmen with nice hair lose control.

How Democrats Will Win the Budget Debate (Slate)

Matthew Yglesias warns that Republicans who are trying to pressure Democrats into proposing a budget should be careful what they wish for when that budget's being written by Patty Murray, who's been known to leave the imprint of her tennis shoes on them.

A court struck down Obama's labor board. Here's why it matters. (WaPo)

Brad Plumer reviews the implications of the ruling that the president's NLRB appointments were unconstitutional: the NLRB would be defunct and a year's worth of decisions may be invalid. Time to delete all those tweets about what a jerk your boss is.

The Rise of the Permanent Temp Economy (NYT)

Erin Hatton notes that the temp industry has added more jobs than any other in the U.S. in recent years, helping to strengthen many employers' belief that workers are just another office supply to be used and disposed of like the coffee filter in the break room.

Avoiding Wall St. shuffle's perils (Politico)

With Wall Street transplants preparing to give the revolving door another spin as Washington reorganizes for the president's second term, Senator Elizabeth Warren provides guidelines for finding candidates who aren't just looking to inflate their future asking price.

This Week in Poverty: Citizen Obama and the Anti-Poverty/Pro-Prosperity People (The Nation)

Greg Kaufmann writes that President Obama's second inaugural was an inspiring call for citizen action to reshape the debate and address the challenges we face as a nation. As anti-poverty groups have learned all too well, it's not going to happen any other way.

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