Until now, the Islamic Republic of Iran has eschewed the manufacture of nuclear weapons, ostensibly based on a fatwa by Ayatollah Ali Khameni. Since Khameni’s assassination by Israel and his replacement by his son, it’s not clear that Iran will continue to observe that fatwa. “What gives Khamenei’s death a particular doctrinal significance is that […]
EconoFact Weekend Reading: Guns vs. Butter Programs The phrase “Guns vs. Butter” is used to illustrate the choice a government must make between spending on the military and spending on social programs. President Trump’s recently released 2027 budget proposal tilts towards guns and away from butter. It calls for a 44 percent increase in defense spending, boosting it to $1.5 trillion, while reducing non-defense spending by 10%. […]
AB: I can only wonder why there would be any decrease after we initiated a war with Iran. “The Atlanta Fed’s GDP Now tracker pointed to tepid 1.3% growth, with the economy already hampered by severe winter weather and rising energy costs. A slowing trend before the war-induced oil price shocks.” And the Trump administration […]
When I was growing up, my dad (who was nominally Jewish) told me that our family name was German and meant Iron Mountain. I only learned decades later that both of his parents were Jewish immigrants from Ukraine. At the time my paternal grandfather arrived in New York as a child, the name was spelled […]
– by New Deal democrat Jobless claims, along with stock market prices and upscale consumer spending (and recently, manufacturing orders) are one of the few important metrics holding up the economy. And the short summary of this morning’s data is: the new regime of very low claims continued. Initial claims did rise 16,000 to a still […]
Since the start of the war with Iran, I have been wondering why we had not seen an interview with John Kerry about this. I would have thought he would have been someone to talk to from the beginning. After all, he is most credited with the agreement we had with Iran before Trump did […]
A rewrite of a much shorter story about state and local funding and what Trump’s Beautiful Bill (or piece of garbage) does to states. Much of Trump’s cuts are meant to fund a new tax break for the upper 10% and 1% in income. Over ten years, The Big Beautiful Bill (BBB) will cut taxes for the […]
“Zetland’s Rule for Subsidies” The one-handed economist As you know, nothing exists until an academic puts their name on it. /s Thus, I reveal my creation — the ZRS! The government should only provide subsidies that anyone can access if they meet the eligibility criteria. Examples: The ZRS thus excludes subsidies to race, gender, religion, […]
Economic Information from Oil Price.com concerning reserves and pricing based on global interests and actions. In a bit of a flux right now. Not much stability and a lot of rent taking by the oil and gasoline industry. Some detail. More at the Oil Price site. “Oil Ignores Escalation, Logs Biggest Weekly Drop Since 2025” […]
Photo by Louis Velazquez on Unsplash J.P. McJefferson Thoughts – J.P. McJefferson In the year marking the United States Semi quincentennial, dozens of members of Congress—from both parties—will quietly make a consequential decision: they will not return. Most coverage treats this as routine political churn—retirements, career moves, the normal rhythm of electoral life. But in a Congress defined […]