It follows a bill approved days earlier that shifts the oversight of elections from its appointed elections administrator to the county clerk and county assessor.
From the Washington Post: The measure gives the secretary of state under certain conditions the power to run elections in Harris County, home to Houston and 4.8 million residents. The government of the state of Texas is being clever dicks - emphasis on the latter - in its assault on the voting rights of our fellow citizens in Harris County, in which lies the city of Houston, and which is a hugely Democratic area. Subsequent job reports, including the one released on Friday, seem to back up Krugman's analysis and, anyway, I choose to be happy that more of my fellow citizens are picking up a check and fck the begrudgers. And it will be a real tragedy if exaggerated fear of inflation causes the Federal Reserve to push interest rates too high for too long, leading to a gratuitous recession that throws away many of the gains we’ve made.
So there’s good reason to believe that we can sustain the incredibly good job market we have right now, even while getting inflation under control. In fact, most measures of expected inflation have declined over the past year. And there’s no hint at all of the much-feared self-reinforcing inflationary spiral, in which rising expectations of future inflation feed into current inflation.
But maybe the important point is that almost every measure of inflationary pressure I’m aware of has improved substantially over the past year, with no increase in the unemployment rate. The big question now is whether the good news on jobs is somehow a mirage, based on an unsustainably hot labor market that will have to cool off drastically to contain inflation. The gap between Black and white unemployment is now a fifth of what it was when Ronald Reagan proclaimed “morning in America.” A tight labor market has led to big gains for low-wage workers, sharply reducing overall wage inequality.
#REAL T REX SKULL FULL#
Full employment also turns out to be a powerful force for equality, on multiple dimensions. Furthermore, it turns out that there are large benefits to full employment beyond the fact that people have jobs. This seems like an example of what Paul Krugman was talking about back in April in The New York Times. Even with unemployment near record lows, fears of a recession - which swelled after three regional banks collapsed amid surging interest rates - have dogged the White House’s attempts to spotlight the economy’s underlying strength. The labor market’s continued strength gives Biden a much-needed boost as he enters the 2024 presidential campaign against a backdrop of lingering pessimism and economic uncertainty. Christ on quantitative easing, is it supposed to go gently? Are we supposed to be happy when it does? Sometimes, I think it would be a good idea if every economic analyst would take a few plays off. economy added 339,000 jobs in May, blowing through Wall Street’s expectations that employment growth would slow as higher borrowing costs and tighter credit conditions take hold.“The labor market and the economy it supports will just not go gently into that good night, despite policy efforts to cool both,” said Joe Brusuelas, chief economist at RSM, after the Labor Department released the report. Guess what? More people with jobs in this country is bad, very bad, very, very, verrrrrrrrry bad.
(Permanent Musical Accompaniment To The Last Post Of The Week From The Blog's Favourite Living Canadian)
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