Tuesday, September 13, 2016


One of the enduring contradictions in our discourse is that politicians are always promising their policies will create jobs and their proposals judged to some extent on whether their policies would actually create them. At the same time any tick down in the unemployment rate starting at about 6.5% increases the number of Very Serious People who demand that the Fed raise rates in order to choke off the job growth before we get wage (oh noees!) and price increases (inflation). Policies that create jobs are good, actual job growth is bad.

Weird how that works.