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

Income, Spending, and PCE PI Index Up . . . Savings Rate Lowest Since December 2019

Commenter and Blogger RJS, MarketWatch 666, Personal Income Rose 0.5% in October, Personal Spending Rose 1.3%, PCE Price Index Rose 0.6%, Savings Rate Lowest Since December 2019 The October report on Personal Income and Outlays from the Bureau of Economic Analysis includes the month’s data for our personal consumption expenditures (PCE), which accounts for more than 70% […]

We’ve turned a corner on intersectionality and come to a crossroads…

And now what Sandwichman calls a frivilous post. The right-wing War on Wokeness has won over Seattle progressive Democrats . . . “because we can’t afford to give the GOP any ammunition for the 2022 election.” Democrats, who are famous for “keeping our powder dry,” are now concerned that their opponents may use the specter […]

3rd Quarter GDP Grew at a 2.1% Rate, Revised from 2.0%

Blogger and Commenter RJS, 3rd Quarter GDP Grew at a 2.1% Rate, Revised from 2.0%; All on Inventories, No Real Final Sales The Second Estimate of our 3rd Quarter GDP from the Bureau of Economic Analysis indicated that our real output of goods and services grew at a 2.1% annual rate over the quarter, revised from the 2.0% […]

Explaining Mutations and Variants

Blogger and Commenter Professor Joel Essenberg addresses Covid variants being called mutations. As a geneticist, I am troubled by the promiscuous use of the word “mutation” to describe amino acid or nucleotide differences from a reference sequence. In nearly all cases, there is no known functional significance attached to these differences. Accordingly, the differences are […]

Freeing Former Students of Loan Debt, a Conversation

An Intro and some history: Alan Collinge at Student Loan Justice Organization. Alan has collected 1,065,931 signatures on his petition asking President Joe Biden to cancel student loan debt. His new goal is to reach 1.5 million signatures. If you believe in the cause you should sign his petition. Petition · President Biden: Cancel Federal […]

Oct. Durable Goods: New Orders Down 0.5%, Shipments Up 1.5%, Inventory Up 0.6%

RJS at MarketWatch 666, October Durable Goods: New Orders Down 0.5%, Shipments Up 1.5%, Inventories Up 0.6% The Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders for October (pdf) from the Census Bureau reported that the value of the widely followed new orders for manufactured durable goods decreased by $1.2 billion or 0.5 percent […]

Impacting Oil Pricing with SPR Oil Releases

Commenter and Blogger RJS at Focus on Fracking and MarketWatch 666 brought up the past history of US SPR oil releases and the impact on oil prices in the Comments section. Since 1990, each time releases (SPR) have been made, there has been a countering reduction of oil by OPEC which could include Russia this […]

A President for ALL Americans

Former Washington Monthly writer Nancy Le Tourneau had this post up on her own site Horizons. The topic? Biden signing proclamations restoring the original boundaries of Bears Ears, Grand Staircase-Escalante and Northeast Canyons, and Seamounts National Monuments. “A President for ALL Americans,” Horizons, Nancy LeTourneau’s big picture look at politics and life Nancy: I didn’t recognize […]

Retail Sales Up 1.7% in October, August and September Revised Higher

MarketWatch 666 Blogger RJS on the macroeconomic implications of retail sales, estimates the impact of retail sales on GDP. Retail Sales Rose 1.7% in October after August & September Sales Were Revised Higher Seasonally adjusted retail sales increased 1.7% in October after retail sales for August and September were revised higher…the Advance Retail Sales Report for […]

Global Oil shortage at 1,930,000 barrels per day in October

Blogger RJS, MarketWatch 666 and Focus on Fracking, Global Oil Shortage at 1,930,000 barrels per day in October as OPEC’s output falls 588,000 barrels per day short of quota OPEC’s October Oil Market Report Thursday of this week saw the release of OPEC’s November Oil Market Report, which includes OPEC & global oil data for October, and […]