Tim Price

Deputy Editor

Recent Posts by Tim Price

  • Daily Digest - April 2: Pranked by the Recovery

    Apr 2, 2013Tim Price

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    The April Fool's economy (WaPo)

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    The April Fool's economy (WaPo)

    Ylan Q. Mui notes that while the economy seems to have picked up steam in the last few months, we've seen signs of strong early-year growth before only to be disappointed later. Fool me once, shame on you. Fool me twice, let's just wait for the jobs report.

    Recession Redux (TNR)

    John Judis is pessimistic given that we've opted not to pursue the New Deal-era approach to reform and investment that built a stronger, more stable economy, but are instead repeating the mistakes that led to the recession to see if we can really nail it this time.

    Why the Euro is Doomed in 4 Steps (The Atlantic)

    Matthew O'Brien makes the case that the euro has become as constraining and counterproductive for EU members as the gold standard once was, though at least the latter was based on the sound logic that humans are driven by an intense desire for shinies.

    Wages stink at America's most common jobs (CNNMoney)

    There's a reason your food server or retail salesperson seems disgruntled, and it's not just because you're asking about gluten-free options or return policies. New BLS data shows that seven of the 10 most common occupations pay less than $30,000 a year.

    Guest Workers as Bellwether (Dissent)

    Josh Eidelson looks at the abusive conditions to which many guest workers are subject, the effort to organize those workers to fight for change, and why no workers can really take for granted that their supervisors don't want to beat them with a shovel.

    Lean in, Dad (NYT)

    Catherine Rampell argues that America needs better work-life balance policies to avoid squandering its college-educated female workers, but paid paternity leave is also a must to prevent the assumption that women are a leave of absence waiting to happen.

    It's still a lovefest between Wall Street and regulators (Guardian)

    Heidi Moore notes that recent copouts in an SEC investigation and the Libor manipulation case show banks are still allowed to get away with "neither admitting nor denying" their crimes, introducing an element of quantum physics into financial regulation.

    The People's Bank (Prospect)

    Abby Rapoport writes that the populist, state-owned Bank of North Dakota has helped America's Freest State weather financial storms and supported fair lending practices and small banks, so naturally other states are reluctant to imitate the model.

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  • Daily Digest - April 1: When the Rents Come Due

    Apr 1, 2013Tim Price

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    How an anti-rentier agenda might bring liberals, conservatives together (WaPo)

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    How an anti-rentier agenda might bring liberals, conservatives together (WaPo)

    Roosevelt Institute Fellow Mike Konczal writes that left and right could find common ground in their efforts to stop the rich from extracting unearned income from land, copyrights, and other resources. Or they could just have a big fight about taxes, as per usual.

    Lessons From a Comeback (NYT)

    Paul Krugman notes that as California has drifted left over the years, Republicans have consistently predicted it would crumble under the strain of liberalism and sink into the Pacific. Now it looks like GOP obsolescence may be the key to a brighter future.

    What if Sherrod Brown, Battler Against 'Too-Big-to-Fail' Banks, Gets Banking Committee Chair? (The Nation)

    John Nichols writes that with current chair Tim Johnson set to retire in 2014, Democrats' internal politics could allow the populist Brown to take the reins. From there it's a slippery slope to effective regulation and decades of financial sector stability. Be afraid.

    Why there won't be any big new bank laws in the US, in three quotes (Quartz)

    Taking the under on bets that ending "too big to fail" is a foregone conclusion, Tim Fernholz argues that the White House has its hands full with Dodd-Frank and that House Republicans will likely continue to behave like a bunch of House Republicans.

    Everyone's a Queen (TNR)

    Timothy Noah notes that Republicans are victims of their own success with welfare reform, which forced them to expand the scope of what they want to cut. There must be swarthy moochers hiding somewhere, and the GOP won't rest until it finds them.

    Social Security, Present and Future (NYT)

    The New York Times editorial board argues that cuts to already meager benefits are the wrong way to reform Social Security and shouldn't be bolted to the side of an unrelated deficit debate. Who let in all the Unserious People? Jeeves, show them out.

    What New York's (Partial) Victory on Paid Sick Days Means (Prospect)

    Amy Traub writes that New York City is finally getting guaranteed paid sick days, and all it took was overwhelming public support, five long years of advocacy work, and compromises that exclude thousands in order to get the proposal brought to a vote.

    284,000 College Graduates Had Minimum-Wage Jobs Last Year (HuffPo)

    Student debt is soaring, the number of college grads stuck in minimum wage jobs has increased 70 percent over the last decade, and 38 percent of the class of 2010 hold jobs that don't even require a high school diploma. Future status: not won.

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  • Daily Digest - March 29: Paradise, Thy Name is Fargo

    Mar 29, 2013Tim Price

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    Cheating Our Children (NYT)

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    Cheating Our Children (NYT)

    Paul Krugman writes that after repeatedly crying wolf about a looming economic disaster, deficit hawks instead claim we're cheating future generations by taking on debt. Their answer, of course, is to cheat them now so they're not so disappointed later.

    This is What Happens When You Rip a Hole in the Safety Net (The Nation)

    NND Editor Bryce Covert notes that despite the media's pearl clutching over rising dependence on disability and SNAP benefits, the explanation is simple: we've done little to halt the growth of poverty and plenty to ensure the poor have nowhere else to turn.

    Let it Bleed? (Project Syndicate)

    Brad DeLong writes that given the way the current U.S. economic crisis has dragged on and the amount of damage it's inflicted, calling it the Lesser Depression might be selling it short. What more could it do to earn its place among the all-time Greats?

    Cyprus Is Doomed: Why the Country Must Leave the Euro Immediately (The Atlantic)

    Matthew O'Brien argues that the bailout/bail-in deal Cyprus and the Troika have negotiated is a fool-proof plan to crush the Cypriot economy with more austerity, hobble its financial sector, and saddle it with a universal currency that can't leave its borders.

    The Debate on Bank Size Is Over (NYT)

    Simon Johnson writes that while it may be in lobbyists' best interests to pretend the jury's still out on ending "too big to fail," watching Cyprus's banks trigger the country's self-destruct sequence should explain why most serious policymakers disagree.

    Stop subsidizing Wall Street (WaPo)

    FDIC vice chairman Thomas Hoenig argues that it's time for banks to stop relying on the American public as an all-purpose safety net and insurance policy. If they really believe in taking huge risks, there's no need for them to keep living vicariously through us.

    The Weeklies (Prospect)

    Monica Potts profiles a group of families in the suburbs of Denver who were left homeless by the Great Recession and forced to live week to week in a cheap hotel, trading in their dreams of white picket fences for mismatched bed sets and a mini-fridge.

    Libertarians name North Dakota "most free" state (Salon)

    Alex Pareene notes that the libertarian Mercatus Center has identified North Dakota as America's little slice of heaven. With its low tax rates and lax regulations, it's a wonder people choose to live anywhere else. But they do. They definitely, definitely do.

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  • Daily Digest - March 28: The Economy Rots from the Head Down

    Mar 28, 2013Tim Price

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    The Consequences of a Leaderless Economy (Yahoo! Finance)

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    The Consequences of a Leaderless Economy (Yahoo! Finance)

    Roosevelt Institute Senior Fellow Rob Johnson argues that America's failure to lead and China and Germany's resistance to change has left the global economy with a void at the top, though many in the financial sector consider themselves god-emperor.

    Dissolving the Digital Divide (Impatient Optimists)

    Roosevelt Institute Fellow Susan Crawford writes that we need regulation and competition in the telecom industry to close the gap between Americans with fast and affordable Internet access and those stuck squinting at a download bar that will never fill up.

    'Trickle-down consumption': How rising inequality can leave everyone worse off (WaPo)

    Brad Plumer highlights a new paper from researchers at the University of Chicago that shows growing wealth at the top is driving everyone else deeper into debt in an attempt to keep up. Even jogging in place is tough when the treadmill keeps getting faster.

    Wealthy Say Higher Taxes Haven't Hurt Spending, Investing (CNBC)

    Many conservatives predicted the skies would tear open and rain cleansing fire on us all if taxes were raised for anyone making over $250K, but most top earners are reacting to higher rates with a shrug. And the Republican Party was never heard from again.

    Is tax reform the new "repeal and replace"? (WaPo)

    Jonathan Bernstein suspects that like the Republican alternative to health care reform that somehow failed to materialize despite 30-odd attempts to repeal the existing law, the GOP's promised version of comprehensive tax reform will turn out to be vaporware.

    What Is the Fiscal Impact of Gay Marriage? (Bloomberg)

    Josh Barro notes that research has shown legalizing same-sex marriage is likely to have a small but positive fiscal impact as spouses support each other financially, making it perhaps the one cost-cutting measure Republicans don't want to impose on the poor.

    JPMorgan Chase Faces Full-Court Press of Federal Investigations (NYT)

    Jessica Silver-Greenberg and Ben Protess report that regulators are devoting a lot of attention to JPMorgan, and in the wake of the London Whale, foreclosure fraud, and Bernie Madoff, those slots on their calendars aren't just being held for cocktails anymore.

    It's dumb not to fill your company's board with women (Quartz)

    Ritchie King notes that only one out of ten corporate board members are women, but their presence correlates with higher share prices, stronger returns, and less risk of bankruptcy. Maybe decision making is easier when you're not pretending it's 1950.

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  • Daily Digest - March 27: The Predator State Becomes the Prey

    Mar 27, 2013Tim Price

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    The corporate 'predator state' (WaPo)

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    The corporate 'predator state' (WaPo)

    Katrina vanden Heuvel argues that bipartisan agreement in Washington often means corporate interests have successfully bought off lawmakers on both sides, but there's a real left-right alliance to be forged between workers and small business owners.

    For 'Faster Growth,' Soak the Poor? (Bloomberg)

    Josh Barro writes that conservative economists are once again trotting out the argument that we need to cut government spending on poor people in order to fix the economy, which makes sense if you ignore everything about the economy and the poor.

    Why the federal budget can't be managed like a household budget (Guardian)

    Helaine Olen takes on the notion that governments and families must both maintain a balanced budget at all times, a dead horse that has been thoroughly beaten, dismembered, and restored by the finest taxidermists so the beatings may continue.

    More Proof That America Doesn't Have a Spending Problem (Think Progress)

    Travis Waldron notes that a new CBO report shows that government spending under Comrade Obama is so hopelessly out of control that discretionary spending now makes up a smaller share of the economy than it did in 2007, before the recession.

    Declining Wealth Brings a Rising Retirement Risk (NYT)

    Bruce Bartlett writes that as workers are shifted out of defined-benefit pension plans and into defined-contribution plans, it's become clear they're not as good at generating a return as corporate money managers. Now let's try it with their fall-back plans!

    How the Maker of TurboTax Fought Free, Simple Tax Filing (ProPublica)

    As April 15 approaches, Liz Day notes that tax filing could be less ulcer-producing if the IRS prepared the returns. But that doesn't appeal to the tax prep software industry or conservatives who want the government to keep its hands off our payments to it.

    The GOP Needs a New Product, Not a New Brand (HBR)

    Justin Fox writes that while the GOP's current focus is on finding a spokesman who seems less old, white, and curmudgeonly, the key to success is creating and selling a product customers actually want, not just finding new ways to trick them into buying it.

    Texas wants its gold back! Wait, what? (WaPo)

    Channeling his inner leprechaun, Rick Perry is demanding the return of $1 billion worth of his state's gold from the New York Federal Reserve. Neil Irwin explains why that could be a hedge against Texas seceding from the Union -- Perry's other favorite idea.

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