Relevant and even prescient commentary on news, politics and the economy.

1st Quarter GDP Revised to Show Economy Shrunk at a 1.6% Rate

RJS: MarketWatch 666 Summary: modest revision. The internals were revised as much as I’ve ever seen. PCE growth from 3.1% to 1.8%, real gross private domestic investment growth from 0.5% to 5.0%. Mostly due to greater inventories. Those 1st quarter inventories set up the 2nd quarter for a fall. ~~~~~~~ 1st Quarter GDP Revised to Show Our Economy Shrunk […]

Two long leading indicators – real money supply and credit conditions – worsen

Two long leading indicators – real money supply and credit conditions – worsen  – by New Deal democrat ~~~~~~~ M1 and M2 money supply for May was reported yesterday by the Fed. The former was unchanged for the month, and the latter was up a tiny 0.1%: That is significant. Why? Because real money supply […]

Moralistic political thinking

I have a post up at Science-Based Medicine about the pitfalls and dangers of moralistic political thinking. The focus is on COVID, but the lessons are much more broadly relevant. Here’s the lede: The American policy response to COVID left a great deal to be desired. Figuring out what went wrong and how to do […]

Housing prices surge, no moderation in CPI

House prices continued to surge through April; expect no meaningful moderation in the CPI anytime soon House price increases continued to go through the roof as of April, as reported this morning in both the Case Shiller and FHFA house price indexes. The Case Shiller national index rose another 2.1% for the month and 20.4% […]

A few thoughts on the abortion ruling

“A few thoughts on the abortion ruling,” by INFIDEL753 There’s no longer any room to pretend that the Supreme Court is a mere non-political referee interpreting the law in a vacuum.  If it ever was that, it’s now just another locus of political power, like the House, Senate, and presidency, a utensil for imposing the […]

The Global Financial Cycle and Emerging Market Economies

by Joseph Joyce The Global Financial Cycle and Emerging Market Economies The Federal Reserve’s latest increase in its policy rate is a signal of its desire to reestablish its credibility after U.S. inflation rose to 8.6% in May, and a precursor of more hikes.  Similar increases have been implemented by the Bank of England and […]

Today’s Hearing

Hey, if you are not listening to this, you should be. It is more along the lines of “what did you know and when did you know it.” One of Mark Meadow’s assistants is reviewing what she knew with the committee.

A Comment on Housing, Inflation, and Fed Policy

A comment on housing, inflation, and Fed policy (and a side comment on spending) No big economic news today, and as usual little State reporting on COVID over the weekend, so let me make a couple of points. As an initial note, the big report I will be paying attention to this week is personal […]

A Liars Guide to Becoming a SCOTUS Justice

As taken from; “Brett Kavanaugh shows how to lie your way onto the U.S. Supreme Court” (azcentral.com), EJ Montini ~~~~~~~~ The Sisters of St. Joseph, who rigorously guided me through parochial grade school, appear to have been misinformed during their considerable Bible studies on what, exactly, constitutes lies. The nuns told us – and this […]