Initial and continuing jobless claims continue moderating trend Initial jobless claims declined 8,000 to 210,000 last week, continuing above the recent 50+ year low of 166,000 set in March. Meanwhile, the 4-week average rose by another 7,250 to 206,750, compared with the all-time low of 170,500 set seven weeks ago.  Continuing claims also rose from […]

Kind of how we got to today’s environment of protecting various types of bullet-spewing-weapons. May 26, 2022 Professor Heather Cox Richardson One of the key things that drove the rise of the current Republican Party was the celebration of a certain model of an ideal man, patterned on the image of the American cowboy. Republicans […]

RJS, Focus on Fracking Summary: Natural gas rigs at a 32 month high; DUCs at a record low; 4.5 month Drilled but Uncompleted Wells (DUC) backlog is lowest in 7 years; completions remain 17% below prepandemic average… This Week’s Rig Count The number of drilling rigs running in the US increased for the 74th time over the […]

It appears that, vaccines nonwithstanding, COVID-19 will be endemic for a long time. Enforcing masking and social distancing/lockdowns are not sustainable in American society. We need engineering fixes that don’t depend on each person’s sense of civic responsibility. Kevin Drum points to two engineering fixes that would dramatically reduce infection rates: better ventilation and installation […]

by Joseph Joyce The Rising Dollar The foreign currency value of the dollar has been rising. The nominal broad dollar index of the Federal Reserve shows the dollar has increased by about 9% since its low point a year ago while other indexes register larger gains. What does this mean for the U.S. and other economies? The appreciation […]

American Impotence “The evenly-divided Senate approved the legislation – formally known as the National Defense Authorization Act (NDAA) – on Wednesday in an 88-11 vote, garnering strong support from both Democrats and Republicans. The House of Representatives passed it by 363-70 last week.” Do Americans really think politicians who eagerly approved a $777 billion military-industrial […]

New home sales get walloped New single family home sales got walloped in April, declining -16.6% for the month compared with March, and down -26.9% from one year ago. Measured from their most recent peak last December, they are off -29.6%, and measured from their pandemic peak of August 2020, they are down a whopping […]

I started writing this a while back. Never put it up, was too busy doing other things like writing about healthcare and trying to finish a long post on pharmaceutical pricing replete with how the PBMs function and the kickbacks, discounts, chargebacks or rebates, cash discounts, free goods contingent on a purchase agreement, upfront payments, […]

Inflation reversals as unique markers of Boom and Bust cycles vs. Fed interventions As I’ve already mentioned a couple of times, I am seeing posts from the usual DOOOMERS warning that a recession is imminent, if we’re not already in one. Typically – again, as per usual – they cite data that they never bothered […]

Both Vox and Crooks and Liars had an article up on this issue. As did SCOTUS Blog. Not an attorney; but, I can tell you all the fun we had with a liar for an attorney, who took $10,000, lied to the court, had exparte conversation in judge’s chambers, was responsible for the death of […]

“Few crimes are more harshly forbidden in the Old Testament than sacrifice to the god Moloch (for which see Leviticus 18.21, 20.1-5). The sacrifice referred to was of living children consumed in the fires of offering to Moloch. Ever since then, worship of Moloch has been the sign of a deeply degraded culture. Ancient Romans […]

14 students, one teacher killed in Texas elementary school shooting This is like a plague which keeps growing in intensity. “The suspected shooter, who might have had a pistol and a rifle, was fatally wounded in the law enforcement response. The attack was at Robb Elementary School in Uvalde, about 83 miles west of San […]

Planters have been running all out over the last few weeks as the envelope to get spring planted before summer heat and drought sets in even further. We will start with what the market was expecting yesterday and the results of the USDA Planted Progress Report as of yesterday. Discussed at length on yesterday’s Go […]

The end of Roe The era of judicial protection for abortion rights appears to ending.  The Supreme Court is poised to uphold a Mississippi statute that prohibits most abortions after 15 weeks, and it is likely to do this by overruling Roe entirely.  When this happens, many states will enforce draconian laws limiting access to […]

Boston Public Radio May 19th episode held a discussion of the consequences for the nation when abortion is outlawed. The guest was Jonathan Gruber, the Ford Professor of Economics at MIT. He was involved with the ACA and the Mass health insurance system. Getting right to it: Based on studies: Women who wanted an abortion […]

RJS, MarketWatch 666 Summary: Retail Sales Rose 0.9% in April after March Sales Revised 0.9% Higher Seasonally adjusted retail sales rose 0.9% in April, after retail sales March were revised 0.9% higher, while sales for February were revised a bit lower . . . the Advance Retail Sales Report for April (pdf) from the Census Bureau estimated […]

Not quite star wars yet. The past and old age of warfare is changing as we watch the conflict in the Ukraine between one ill equipped small defender and the more modern equipped large attacker. It is only because of NATO and the US equipping Ukraine has the stubborn resistance held up. The lessons to […]

Expanding BRICS?  Chinese paramount leader Xi Jinping has called for the BRICS group to expand to include Kazakhstan, Uzbekistan, Thailand, Indonesia, Argentina, Nigeria, Senegal, Egypt, and Saudi Arabia. The original group, suggested by the research department at Goldman Sachs in 2001 as a group to leading future world economic growth was Brazil, Russia, India, and […]