No Nonsense Economics

This article was co-authored by Practice Lead, Mazen Bou Zeineddine. It was originally published by the UC Riverside School of Business Center for Economic Forecasting and Development. The current public health crisis resulting from the novel coronavirus (COVID-19) pandemic has dealt a swift, heavy blow to the U.S. economy, and nowhere is this pain being felt more acutely than in the creative

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The April employment report was released this morning and the grim tidings it delivered, while anticipated, were still quite startling. The U.S. unemployment rate shot to 14.7%, over 11 percentage points higher than in February, even as the number of payroll jobs in the nation fell by over 20 million. Never has the United States experienced such a dramatic decline

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As Beacon Economics has written in our published outlooks over the past six weeks, a true understanding of what is currently happening in the economy is limited given the delay in receiving relevant data, as well as the total lack of recent historical examples illustrating how pandemics impact economies. As such, any prediction of how the COVID-19 crisis will affect

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The 4.1% growth rate in U.S. Gross Domestic Product in the 2nd quarter (announced today) was not a surprise to anyone looking at the monthly numbers. In fact, it came in a bit below the consensus prediction of 4.5%. But that won’t stop the accolades the current administration will be handing itself over the coming months. This number will surely

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‘Inflation expectation disorder’ seems to have become a full pandemic lately. News story after news story is discussing accelerating price growth not as a possible new trend, but as a current reality. “Consumer Inflation Hits 6 Year High” read one headline after the June CPI release. Inflation expectations are also on the rise according to the New York branch of the Federal Reserve,

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This era of regular and ongoing political “whoppers” coming out of Washington DC, seems to have ushered in an increased willingness outside the beltway to declare pretty much anything, regardless of having evidence to support said claim, or even worse, saying it in the face of contrary evidence. Deeply misleading comments about the economy can be particularly dangerous in my

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Co-Authored by Christopher Thornberg, PhD Editor’s Note: This article originally appeared on Zocalo Public Square on May 2, 2018. Envious of Silicon Valley’s success, more than 80 places throughout the world have renamed one of their neighborhoods “Silicon-something,” including “Silicon Beach” in Los Angeles, “Silicon Bayou” in New Orleans, and “Silicon Roundabout” in London, as if the very word works an

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Our elected officials in Washington DC continue to struggle over the issue of immigration policy reform. The Trump administration has already made its views known, with its Muslim Ban, mixed signals on the DACA (Deferred Action for Childhood Arrivals) program, and more recently, its immigration reform proposal, a plan that reflects a much more restrictive stance toward immigrants than previous

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It is often said that generals always fight the last war—and this applies to that still highly overused and abused political catch phrase “jobs, jobs, jobs.” Such rhetoric about creating new jobs continues to be attached to the rollout of almost any new government policy, regardless of the veracity or relevance of the claim. Times change, as do economic realities

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For years, Proposition 13 (Prop 13) has been viewed as the third rail of California politics. While Prop 13 is responsible for capping annual property tax assessment increases at 2%, it also required that future tax increases face a two-thirds vote for passage, making it very difficult for elected officials to tinker with the tax code. In 2012, voters approved

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