Job openings that are hard to fill in the midst of high unemployment reveal fundamental failings. The monthly reports from the Bureau of Labor Statistics reveal this apparent ongoing anomaly: The unemployment rate remains high, and total employment down, but…
Arguing over presidential spending misses the point
MarketWatch pundit Rex Nutting kicked up a lot of dust with a recent piece “Obama Spending Binge Never Happened,” which compared the rate of spending growth under the last five presidents. He cited Congressional Budget Office data to show that…
Roots of financial crisis still haunt us
The clamor about JPMorgan’s losses in credit default swap speculation is dying away. That is unfortunate because it is the tip of the greatest economic policy challenge we face today. The questions should be clear: Why did a housing and…
Changes make new winners, losers in global economy
Modern economies are complex. Consider how news from the last week will affect the Minnesota economy. One development is that the U.S. dollar continues to rise in value compared to the euro. Another is the rise in world wheat prices,…