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

The Big Beautiful Bill will kill American hospitals

It’s bad enough that Republicans believe poor Americans should be allowed to die without health care. But if you ever need a hospital, whether or not you have insurance, this could kill you, too. “That’s because each node of the system is interdependent. If the 190 rural hospitals estimated in a recent Center for American […]

Threats to Senate’s July 4 Reconciliation rush

What is sitting before the Republicans to be solved before taking a Reconciliation Vote. Been rush and scramble to get this bill in order to please holdouts and pass before July 4th. Hopefully, some of these critters will start to have a heart. Hopefully they start to think about how their actions will hurt their […]

Day of Remembrance on June 17 . . . Juneteenth

Juneteenth became a federal holiday on June 17, 2021. President Joe Biden signed the Juneteenth National Independence Day Act into law. When Melynda Price thinks of Juneteenth, she thinks of hope, home, and of heritage. A legal scholar at the University of Kentucky, Price is a fifth-generation Texan whose great-great-grandmother was enslaved in Southeast Texas. […]

Housing construction looks even more recessionary

 – by New Deal democrat Because no data will be released tomorrow due to the Federal holiday, I am going to defer a deeper look at the very important housing sector until then. Today I’ll just note the top line indications from this morning’s housing construction data. As per usual, permits are much less noisy than […]

No, Social Security and Medicare aren’t going to go broke

Here’s the headline in the Boston Globe: “Medicare and Social Security go-broke dates pushed up due to rising health care costs, new SSA law” Read further and you find this: “The go-broke date — or the date at which the programs will no longer have enough funds to pay full benefits — was pushed up […]

Jobless claims show a weakening, but not (yet) recessionary economy

 – by New Deal democrat Because tomorrow is the Federal Juneteenth Holiday, initial and continuing claims were released today. They continue to show a slowly weakening, but not (yet) recessionary, economy. Initial claims declined -5,000 to 245,000 for the week, while the four week moving average rose another 4,750 to 245,500. This four week average is […]

Can Israel win without boots on the ground?

In its latest attack on Iran, Israel has resorted to bombing and assassination to convince Iran to capitulate on its nuclear program*. What’s the track record of success for bombing and assassination campaigns? Bombing “Unless an enemy army takes Tehran, as the US military took Baghdad in 2003, this four-branch government cannot be gotten rid […]

Regressive Bill? Yes, in All of History

Robert Reich offering up how bad trump’s Big Beautiful Bill is and the havoc it will cause for low-income Americans. One example? The reversal of Biden’s subsidy increase from 600% to 400% FPL by Trump. It will price many families out of the healthcare market. There is more detail here “House Bill and Healthcare,” Angry […]

Industrial and manufacturing production mixed, but also consistent with the end of front-running

 – by New Deal democrat Today’s second report was for industrial production, including its important manufacturing component.  The data for May was mixed, as total production (blue) declined -0.2%, while manufacturing production (red) increased 0.1% In March I wrote that “I suspect the big increases in February and March in manufacturing, like this morning’s retail […]

Thought there wasn’t a healthcare insurance angle to Trump’s dictator gambit in Los Angeles? Guess again

No pay. no healthcare insurance, no rack to sleep in and probably no mess hall meals somewhere. I am going to guess their being federalized grants them access to regular Army healthcare. Still does not take care of family. Civilian authorities always like the help of Federal Detachments until it comes time to provide essentials. […]