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The Middle-Class Economics Myth

Middle-class economics is not what any of the political parties would have you believe it might be in the form of tax breaks and any other incentive you can think of. Middle-class economics is one thing only: protectionism. Why? Because, no tax break will restore your lost job at the abandoned steel mill. No college degree will find you a job in an industry that has long been shipped overseas. Nor will a stimulus package make your wage internationally competitive. Only sky high tariffs can save the middle class, because factories are the economy.

The Fair Trade Fantasy rev 3

While America's nation-destroying trade deficit amounts to a black eye for the modern neoclassical school of economics, it has raised calls by non-economists to "level the playing field" in the form of fair trade. As one astute commenter pointed out, the term Fair Trade is generally used in the context of ensuring equitable treatment of workers, along with necessary legal reform in developing countries. I on the other hand am using the term as one might find it proposed in currency reform legislation (i.e. Currency Reform for Fair Trade Act).

November PCE up 0.6%, PCE price index down 0.2%, real PCE on track to jump at 4%+ rate in Q4

Last week the Bureau of Economic Analysis released their report on Personal Income and Outlays for November, which in addition to the important personal income data, also reports the monthly data on our personal consumption expenditures (PCE), which as you all know is the major component of GDP.  From that data, the BEA also computes personal savings and the national savings rate, as well as a price index for PCE,