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

Topical thread

by rjs
Once again, here are the links to this week’s coronavirus news collections, as posted overnight at Econintersect:
New coronavirus cases in the US were down another 10% this week, and the week’s virus death toll was down by about the same percentage, so my projection that deaths would continue rising another two or three weeks was clearly off the mark….if deaths don’t spike back up, the current wave of the virus will mean a US virus death rate of about 2% of those who test positive…that a big improvement from the 8% to 10% of those who tested positive who were dying early on…it’s hard to say how much of that is due to better care, or simply the big increase in the number who are now being tested and being confirmed positive…it could also be demographics; as more young people have been catching the disease in this recent wave, and their cases tend to be less severe..
The “economic’ news here includes a thread of articles on the failed virus relief negotiations in Congress and Trump’s subsequent executive orders to enact parts of the package anyhow, several articles on Friday’s jobs report, and another batch of articles on school’s plans for this fall, which barely scratches the surface because they’re probably discussing what to do in every school district in America…

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Weekly Indicators for July 27 – 31 at Seeking Alpha

 by New Deal democrat

Weekly Indicators for July 27 – 31 at Seeking Alpha

My Weekly Indicators post is up at Seeking Alpha.

The two most noteworthy short leading indicators, stock prices and initial jobless claims, have started to go in two different directions in the past several weeks.

As always, clicking over and reading should bring you right up to the moment, and put a little coin in my pocket as thanks.

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International Factor Payments and the Pandemic

(Dan here…Joseph Joyce writes for Econbrowser)

International Factor Payments and the Pandemic

I have written a piece on international factor payments (migrants’ remittances, FDI income) and the pandemic for Econbrowser, the widely followed blog of Menzie Chinn of the University of Wisconsin and James Hamilton of the University of California-San Diego.

You can find it here:

http://econbrowser.com/archives/2020/07/guest-contribution-international-factor-payments-and-the-pandemic

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Weekly indicators

by New Deal democrat

My Weekly Indicators post is up at Seeking Alpha.

There was no significant change this week in any of the indicator time frames.  I expect that to change in a hurry once the pain of the ending of the supplemental $600/week unemployment benefits is felt. That was all going to spending, and that spending is going to very abruptly stop.

As usual, clicking over and reading brings you up to the virtual moment on the economy, and rewards me a little bit for the work I do.

 

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Dig Him Up!

Dig Him Up!

by

Ken Melvin

On our TV and computer screens we saw right-winged protesters armed with semiautomatic weapons displaying swastikas, nooses, and replicas of supposed confederate battle flags guarding the entrance and filling the chambers of Michigan’s State Capitol. How did they get by with this? Does the Second Amendment of the US Constitution give them the right to try to intimidate a duly elected Governor, government, with assault weapons and hate symbols? Has the Supreme Court now decided that assault weapons are a form of speech, or are maybe even citizens, and thus are protected under the First? Though Patrick Henry argued that armed militias were necessary for the ‘purposes’ of the state; there’s no evidence he thought they should be used against the state.

The Second Amendment to the Constitution:

A well regulated Militia, being necessary to the security of a free State,

the right of the people to keep and bear Arms, shall not be infringed.

The First Amendment of the Constitution

Congress shall make no law respecting an establishment of religion, or

prohibiting the free exercise thereof; or abridging the freedom of speech,

or of the press; or the right of the people peaceably to assemble, and to

petition the Government for a redress of grievances.

The First guarantees their right to protest, but neither amendment gives them the right to protest with the implied threat of shooting anyone who stands in their way. What am I missing? If we had been armed in our protest of the Vietnam War, they would have shot us; did anyway. If we had been armed in our protest of the Invasion of Iraq, they would have fabricated a reason to have shot us. Extending armed protests to its logical conclusion, we are looking at the possibility of open warfare between armed protesters and any opposition, including law enforcement; the possibility of the use of arms to overthrow a legitimately elected government. Does the constitution give them that right?

 

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