Theft of alien labour time is a miserable foundation In the early 1980s, I was riding home from work on a bus and looked out the window at a Toyota pickup truck alongside. I was overwhelmed by the realization that I could never in my life make such an object by hand, even if I […]
Commenter and Blogger RJS at Marketwatch 666; “September Durable Goods: New Orders Down 0.4%, Shipments Up 0.4%, Inventories Up 0.9%“ September Advanced Report Durable Goods Manufacturer Shipments, Inventories, and Orders, US Census The Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders for September (pdf) from the Census Bureau reported that the value of the […]
September personal income and spending: positive, but consumers’ “cushion” of pandemic assistance savings is now exhausted Real personal income and spending held up well throughout the pandemic, due to a vigorous government response. This morning these were reported for the first month after the expiration of the last such assistance. In nominal terms, personal income declined […]
Commenter and Blogger RJS, Focus on Fracking, The Latest US Oil Supply and Disposition Data from the EIA US oil data from the US Energy Information Administration for the week ending October 22nd indicated that after a modest increase in our oil imports and a modest decrease in our oil exports, we had surplus oil to add to our stored commercial […]
(Hence the correctness of the theory of surplus population and surplus capital…) Marx mentioned, “the theory of surplus population and surplus capital,” parenthetically, in the Grundrisse and “surplus population and surplus capital” in his 1862-63 draft of Capital. Although it isn’t certain what theory exactly he was referring to, the phrase reappears, in reverse order, in chapter 15, […]
“Lump” and “labor” are two words… From: Tom Walker Sent: October 27, 2021 3:49 PM To: scott.a.wolla@ Subject: Lump of labor fallacy Dear Scott, I just came across your article, “Examining the Lump of Labor Fallacy Using a Simple Economic Model,” from November of last year on the St. Louis Fed website. I have done quite […]
September Personal Income Fell 1.0%, Spending Rose 0.6%, PCE Price Index Up 0.3%; Savings Rate Lowest Since December 2019, Commenter and Blogger RJS, MarketWatch 666 Friday’s release of the September Income and Outlays report was concurrent with the GDP release on Thursday, and all the PCE data in the 3rd quarter GDP report we just covered actually […]
Please! Please! Spare us the charade. No more denials. No more tear-jerking stories about job loss. We know that you fossils are not dumb. That what you fossils really want is to be bought out. With $Trillions of reserves on the block, who can blame you? Buying you out might be best. Certainly better than […]
Commenter and Blogger RJS, Marketwatch 666, 3rd Quarter GDP Grew at 2.0% Rate even as Real Final Sales of GDP Ticked Lower Our economy grew at a 2.0% rate in the 3rd quarter, quite a bit slower than the growth rate of the second quarter, as increasing consumer outlays for services, greater nonresidential fixed investment, […]
We are all somewhere on the spectrum. Little doubt. Probably not on the one-dimensional line of dots or Verne’s Green Ray (Le Rayon Vert). More likely on the two-dimensional Venn when a three is needed. A point in space is needed to depict those of us who are alone out there in space; else they […]