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

The enemy is us

“Henry VIII dissolved monasteries and executed wives because the machinery of monarchy allowed it, and challenging him risked the entire structure. The Romanovs died because saving them threatened coalitions that mattered more than five lives in a basement. Kennedy’s death formalized distance because proximity had become a procedural risk. And Sarajevo exploded not because of […]

Real retail sales turn down monthly and YoY in December, boding poorly for employment

– by New Deal democrat Real retail sales, one of my favorite broad-economy indicators, was updated through December this morning — still stale by one month, as under normal circumstances January’s numbers would have been released this week.  Still, with consumer spending being about 70% of the entire economy, this is one of the most […]

Newly Minted Family Billionaires

It’s good to be the president. Or at least this time around. Trump has managed to increase his worth via the presidency. Not saying this is illegal. The amount of enrichment for the Trump family is rather large. More than many presidents combined. ~~~~~~~ Press Release: “New Report Exposes the Trump Family’s Multi-Billion-Dollar Crypto Empire, […]

“Scraping existing obligations to collect and report racial, ethnic and gender-based data involving law enforcement, education, federal contracts, public health, environmental justice, and social research”

I do believe most people do not recognize the magnitude of what the Trump administration is doing. I think of Bradbury writing about the book burnings in Nazi Germany. And then there is the ideological repression of the McCarthy era in the United States. The nation is at it again in a far more reaching […]

February 3, 2026

More on the Trump administration’s effort to block immigrants from residing in the United States. In this instance, the Trump administration’s Homeland Security Secretary attempts to terminate the temporary protected status of immigrants living legally in the United States. The effort to do so is not gradual. It is an immediate termination of their legal […]

Jobless claims: the positive regime change continues, suggesting a lower unemployment rate ahead

 – by New Deal democrat Let’s take our normal weekly look at jobless claims. As a general reminder, these are a good high frequency short leading indicator for the economy as a whole, and also somewhat noisily for the monthly unemployment rate. In the past several months, I have highlighted what appears to be a “regime […]

Minnesota

Been to Minnesota camping and canoeing in the boundary waters. Other than swatting mosquitos, it was invigorating the two weeks I was up there. The only other place I have camped (with family this time) was northern Wisconsin on Madeline Island. What has happened in Minnesota is not reminiscent of the state I know of […]

More on Minneapolis

“The Minneapolis Crucible” – Paul Krugman January 15, 2026 Will we forge democracy anew? When Trump won the 2024 election, I feared rightly) our democracy would soon be in great peril. Between gerrymandering, a corrupt Supreme Court, a compliant Republican Party, and a tsunami of political donations from the tech broligarchy, I thought American democracy […]