West coast ports remain open, because those dockworkers have a different union and negotiated a new contract a couple years ago. What’s behind the strike? Wages are front and center. West coast longshoremen, under their new contract, will make $60 an hour by 2027; the East and Gulf coast longshore[...]
Archive for the ‘Economics’ Category
Why some conservatives want Trump to lose
Trump and his MAGA crowds have dragged the once-reputable GOP into a cesspool of lying, corruption, immorality, racism, bigotry, and political violence. That’s more than reason enough to ring the fire bells, but it also isn’t conservatism. Christian Schneider probably speaks for many tra[...]
Kroger exec admits price gouging
“A top company leader at Kroger has admitted … the company gouged prices … above inflation levels,” Newsweek reported today (here). “Kroger’s Senior Director for Pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels.” Why didn’t c[...]
Should restaurant service fees be illegal?
I’m against government micromanaging the economy, but I’m for government protecting consumers from deceptive business practices. Restaurants are struggling with higher costs, but are afraid that raising menu prices will drive away customers, so they’re passing those costs through ([...]
Jobs, jobs, jobs
Trump’s 2024 campaign advisers want him to run on the economy. Good luck with that. He’d rather talk about his personal grievances. But let’s say he does. Bill Clinton, speaking to the 2024 Democratic convention, claimed that since 1989 fifty-one million jobs have been created unde[...]
Project 2025 hates dog parks
Kevin Roberts (photo, left), Project 2025’s godfather, hates dog parks (see story here). So does J. D. Vance, Trump’s 2024 running mate (see story here). Roberts wrote a book about Project 2025 he won’t release before the election, lest it hurt Trump’s chances. However, media[...]
August 16th, 2024 - 5:50 pm § in America, Business, Democrats, Donald Trump, Economics, Politics, Republicans
Trump economics vs. Harris economics
Americans entered the 2024 election season deeply frustrated with the economy despite abundant jobs, low unemployment, and no threat of recession. Most of their angst stemmed from inflation, but housing shortages and unaffordability also contributed. Meanwhile, consumers went on a post-pandemic spen[...]
Can states ban lab-grown meat?
That’s a complicated legal question the courts will have to answer. The closest analogy I can think of is Wisconsin’s margarine ban in effect from 1895 to 1967 (see story here); as far as I know, it was never struck down by the courts. That ban was enacted to protect Wisconsin’s da[...]
Deficit math
The U.S. national debt is $36 trillion as of 2024. Biden and Trump each added $8 trillion of that. The Congressional Budget Office (CBO) projects deficits of $20 trillion over the next 10 years. On top of that, Trump wants to cut taxes by $4 to $6 trillion over that period. Republicans talk about of[...]