Joe Manchin came to the table in agreement with the new IRA provisions. This left Senator Sinema as the only one blocking the Inflation Reduction Act. To reach an agreement, Democrats were forced to narrow a key provision of the recently enacted Inflation Reduction Act because of Sen. Kyrsten Sinema, D-Ariz. “We had a senator from Arizona […]
Weekly Indicators for August 15 – 19 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. The continued decline in gas prices has been doing some nice things to other indicators as well. Meanwhile, manufacturing as measured by the regional Feds is getting worse. As usual, clicking over and reading will bring you […]
The Good Note this one on your calendar, the court gets it correct. Just when you think SCOTUS will raise its ugly right-wing head again, it decides differently. I can’t tell you what the votes were for and against. This is an unsigned decision. Mabe the one who ratted on the SCOTUS-Alito’s anti-abortion decision will […]
Prices of existing homes have probably peaked By now you may already know that existing home sales declined further in July, to an 8 year low (excluding the pandemic lockdown months: This is roughly a 30% decline from their peak, and is certainly a recessionary level. But perhaps more importantly at the moment, it […]
David Dayen: The president may soon have an opportunity to remove Louis DeJoy. Later in December of this year, two postal governor spots will be open. The terms of Republican William Zollars and Democrat Donald Lee Moak will expire then. Both Zollars and Moak are allies of Postmaster General DeJoy. At that time, Biden could […]
Are Supporters of Putin’s Invasion of Ukraine Suffering from A Neo-McCarthyism? Recently I have seen claims made on some blogs that those who support the invasion of Ukraine by Russia under orders of its president, V.V. Putin, are experiencing suppression and discrimination that resembles the McCarthyism of the late 1940s and early 1950s in the […]
New jobless claims decline for a (recent) change For the last several months, there has has been nearly a relentless slow increase in new jobless claims. That trend broke, at least for this week. Initial jobless claims declined by 2,000 to 250,000. More importantly, the 4 week average also declined by 2,750 to 246,750. Continuing […]
In case you missed hearing about it. Jamestown township is located in the mostly Republican Ottawa County, Michigan. The township has refused to pass a new millage for its library. Like Ottawa County, Jamestown Township is Republican, just not as solid. Ottawa County has not voted for a Democrat for president since 1864. Instead of […]
July real retail sales show more stagnation, but slightly positive YoY Consumption leads employment. Increasing demand for goods and services leads employers to hire more people to fulfill that demand. That, in a nutshell, is the biggest reason why real retail sales is one of my favorite economic indicators. In July, nominal retail sales increased […]