by New Deal democrat Weekly Indicators for June 27 – July 1 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. There was yet more deterioration this week, focused on the long and short leading indicators. But consumer spending still seems to be holding up. As usual, clicking over and reading should bring […]
“Manufacturing and construction start out the second half of 2022 with more bad news“ – by New Deal democrat Let’s take a look at the new month’s first data, on manufacturing and construction. The ISM manufacturing index, and especially its new orders subindex, is an important short leading indicator for the production sector. In June, […]
“Ending Roe is a pure exercise of Republican power, wielded to reduce women’s freedom and equality” – Los Angeles Times (latimes.com), Erwin Chemerinsky Freedom and equality have expanded enormously over the course of American history, which makes the ending of a constitutional right virtually unprecedented. In Dobbs vs. Jackson Women’s Health Organization, the court overruled […]
A Break On The JCPOA Iran Nuclear Deal? Maybe. It is now reported that “talks are to resume,” although most observers are not optimistic. But then today there is a report of a shakeup in the Iranian Revolutionary Guards hierarchy who seem to control the most serious of these things. Head of their intel, Taeb, […]
For the sake of the nation, the current Supreme Court majority needs to acknowledge that they were wrong and rescind their decisions on Roe, EPA, Guns, Church and State, Vaccinations, and School Prayer; then, resign en masse. They need to do so in order to save the nation the agony of the traditional fifty – […]
RJS: Focus on Fracking ________ Summary: US oil supplies at an 18 year low, SPR at a 36 year low, total oil + oil products supply at a 13½ year low. _________ Detail: The Latest US Oil Supply and Disposition Data from the EIA Sidenote: The US oil data reported this week by the US Energy Information Administration includes updated data for the […]
Real personal income and spending decline in May, while the saving rate increases (not good!) In May nominal personal income rose 0.5%, and spending rose 0.2%. But since the personal consumption deflator, i.e., the relevant measure of inflation, rose 0.6%, real income fell -0.1%, and real personal spending fell -0.4%. While both real income and spending […]
What does this make you think? Option 1: This is a moral outrage! Option 2: We need to figure out how to win elections! Politics is not a morality play, folks! If you think this is an outrage, spend your time figuring out how to win elections. And winning elections may require messaging that does […]
(Dan here…follow the link to the comment section on Kevin Quinn’s somewhat cryptic post to learn more on economics) Muth and Lucas: Call your offices! On his Marginal Revolution blog, Tyler Cowen describes the recent “purge” in the trucking industry. The pandemic shift in demand towards goods, as opposed to services, produced a big increase […]
Initial claims continue weakening trend, but are not signaling recession this year Initial jobless claims declined -2,000 (from an upwardly revised 233,000), to 231,000 last week, vs. the 50+ year low of 166,000 set in March. The 4 week average rose further, by 7,250 to 231,750, compared with the all-time low of 170,500 twelve weeks […]