Tag Archives: Mark Perry

Quotes From Carpe Diem

Anytime I get a good chuckle out of reading economic news and political soap-operas, I have to post.  Today I have two, both from Mark Perry over at Carpe Diem:

The First:

It’s hard to believe that this is the same paper that hosts former economist Paul Krugman, but check out this shocking New York Times staff editorial arguing against raising the minimum wage because it’s a fundamentally flawed solution to overcoming poverty.

I love the idea of referring to Krugman as a former economist.

The Second:

I’ve found that somebody’s position on the minimum wage is a pretty good “litmus test” of a person’s ability to understand basic economic principles and think logically.  Those who support increases in the minimum wage demonstrate their inability to think clearly, logically and rationally, and their inability to understand basic economic theory.  Supporters of the minimum wage embrace emotional “thinking” over truly rational thinking, and generally therefore really can’t be taken seriously. Just my opinion.

Chance of Recession

I’ve been a reader of Mark Perry’s for years and years.  I love his stuff.  One of my favorite installments that he runs is the “Chance of Recession”.  Here, he highlights data delivered by the New York Federal Reserve bank.

The bank does a  neat analysis of some different values and comes up with the chance that the economy will be in recession in the next year.  The data isn’t perfect, but the rough strokes are enlightening.

Let’s look.

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