Linked and Loaded: Final’s Day

Links to what I’ve been reading, but not interfering with studying…no no no, definitely not that.

Obama’s last-chapter problem — and ours

Ezra Klein

[…]After eloquently diagnosing the way the economy has failed the middle class while enriching and empowering the top 1 percent, it ended by calling on Congress to extend and expand the payroll tax cut, raise the tax rate on income over $250,000 to 39.5 percent from 35 percent and green-light more infrastructure spending. The speech got right to the heart of our economic problems. The solutions got right to the capillaries.

Government Says Hezbollah Profits From U.S. Cocaine Market Via Link to Mexican Cartel

ProPublica

U.S. authorities are building a politically explosive case that Hezbollah, the Lebanese militant group, finances itself through a vast drug-smuggling network that links a Lebanese bank, a violent Mexican cartel and U.S. cocaine users.

What is the Real Unemployment Rate, and How Could We Tell?

Rortybomb

Ezra Klein flags an article written by Edward Luce in the Financial Times, where Luce notes: ”According to government statistics, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent.”  Heidi Shierholz of EPI has more details here, including a great list of alternative measures of weak labor market performance.  But to expand on Luce’s point, depending on how you measure it, this rate could be more like 11.4%, with no improvement over the past two years.

*My Note: Answered a lot of simple questions I had about various measurements of unemployment. Also great contextual support.

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