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

Manufacturing and construction vs. the still-inverted yield curve

 – by New Deal democrat at the Bonddad Blog Prof. Menzie Chinn at Econbrowser makes the point that the yield curve is still inverted, and has not yet eclipsed the longest previous time between onset of such an inversion and a recession. So he believes the threat of recession is still on the table. And […]

Yesterday, Robert Hur Testified to the House Judiciary Committee

For once and rather than say, Dems blew it again with Republicans; Dems demonstrated they can be crafty too! House Democrats and Joe Biden turned the tables on Republicans and Robert Hur. Professor Heather writes Letters from an American and gives us the rundown on what took place. New York Times, Washington Post, live news […]

Labour power as a common-pool resource

Labour power as a common-pool resource: in memory of Paul Burkett Human mental and physical capacities to work have elastic but definite natural limits. Those capacities must be continuously restored and enhanced through nourishment, rest, and social interaction. Over the longer term that capacity for labour also has to be replenished by a new generation […]

Representative DeFazio taking on Boeing

 Taking on Boeing, A senior manager for Boeing’s 737 MAX program testimony about Boeing manufacturing issues and its supply chain. The fatal MAX 8 crashes occurred in 2018 and 2019. He decided to speak up publicly and was then called to testify before Congress on the problems he says he saw up close. The story […]

Clueless in Gaza II

“U.S. officials say they believe Hamas has been constrained by the Israeli operations, but that Israel will not be able to achieve, in the foreseeable future, its goal of eliminating the group’s military capability.” also “An Israeli military intelligence official, who spoke on condition of anonymity under military protocol, said that Israel was engaged in […]

Review of Beyond the wall: A history of East Germany by Katja Hoyer

I first met my friend Gunter at a scientific meeting on the Greek Island of Crete in 1986. He was from East Germany. I knew his published work at the time, and when I shared my unpublished data, he agreed to send me some Drosophila stocks that would advance my research. At the meeting, he […]

A Longgg Time Series of Safe Real Interest Rates

I learn from Brad DeLong (nickname delong run) that Paul Schmelzing has gone to a truly heroic effort and estimated safe real interest rates since 1310! The main point is the long slow decline (it is ironic that one of the stylized growth “facts” is that there is no clear trend in real interest rates. […]