up Trending now
Dean Baker

Dean Baker

Senior economist at the Center for Economic &Policy Research (@ceprdc). Blog-- Beat the Press (@beat_the_press) I'm now at Mastodon @deanbaker13@econtwitter.net

70936 followers  •  240 follow  •    •   http://www.cepr.net

construction employment was up by 25k, even residential construction rose by 5.5k. Manufacturing employment rose by 19k

Washington Post tells readers that food stamps cost the government $119 billion last year, but provides zero context to readers as to how important this spending is to the federal budget. Yeah, everyone knew it was 1.9 percent of spending, right?

I'm going to go out on a limb here and look either really smart or really stupid in 48 hours. I'm looking for just 20k jobs in February.

Just to remind folks, the fact that the FDIC is not guaranteeing deposits over $250k does not mean that businesses with larger deposits have lost all their money.

@chrislhayes  I have no idea what SVB's books look like, but let's say that their assets would cover 80 percent of deposits. The FDIC can make this assessment and then tell large depositors that they can immediately have access to say, 60 percent of their funds.

So the story that large numbers of workers risk not getting their paychecks is simply not true. Please don't spread it.

@BillAckman  @delongB  @SVB_Financiali  @jpmorganl  @Citil , while we have you here begging for a government bailout, can you tell us what you think of student loan debt forgiveness?

I'm not sure if fear of contagion will lead to government bailout of SVB, but we really should be talking about Federal Reserve Banking to end this sort of risk and eliminate much of the waste in out bloated financial system

Scary thought for the evening: The people who are designing AI couldn't figure out how caps on FDIC deposit insurance work.

NPR does an ungodly irresponsible piece on SVB collapse.


In honor of the Republicans efforts to screw blue states, NY, CA and other states with high income taxes need to convert to 100 percent deductible employer-side payroll taxes. It's a great way to say "Merry Christmas" to President Trump

Beef prices have fallen back the level they were at when President Biden took office Too bad the media can't find out about this

My favorite fun fact that few people know, if the minimum wage had kept pace with productivity growth since 1968, as it did from 1938 to 1968, it would be $24 an hour today

The reason Trump is asserting, with zero evidence, that health care workers are stealing masks to resell is because that is what he would do in this situaton

Is there some reason @realDonaldTrump  can't follow the same conflict of interest rules as all prior presidents?

Fun facts: In the first six months of the 1981-82 recession, we lost 1,046k jobs, in the first six months of the 1990-01 recession we lost 690k jobs, in 2001 we lost 761k jobs, in 2007-09, we lost 705k jobs. In 2022 we gained 2,740k jobs.

Okay, can we stop the he said/she said reporting on Biden's assertion that inflation is worldwide problem associated with the pandemic and the war. EU inflation has been 7.5 percent

@JamesSurowiecki  Trump tried to overturn a DoD contract for Amazon because he was upset at Jeff Bezos over WaPo coverage, he tried to block the AT&T-Time Warner merger because he was upset at CNN. Can the fake First Amendment types stop playing stupid games over the laptop.

Some folks here are saying that the low unemployment rate is due to people dropping out of the labor force. The opposite is true. The prime age (ages 25 to 54) labor force grew by 2.4 million over the last year, an increase of 1.2 percentage points.