Notes on Harvey: if Karma could bring her litter to visit the Texas GOP First of all, as many of you already know, the M.I.A. proprietor of Bonddad blog, Hale Stewart, resides in the Houston area. I traded messages with him on Saturday, and as of then, he was doing OK. Secondly, when Superstorm Sandy […]
I met Cathy in Cambridge when she spoke at MIT a few years ago. This is re-posted from Naked Capitalism. Cathy’s whole TED Talk can be watched after the fold. Data Scientist Cathy O’Neil: “Algorithms Are Opinions Embedded in Code” Cathy O’Neil has a PhD in mathematics from Harvard and is the author of the […]
Plan the time to take a deep breath and look at Steven Harper’s Interactive Timeline: Everything We Know About Russia and President Trump at Moyers and Company. When it comes to Donald Trump, his campaign and their dealings with Russia past and present, sometimes it’s hard to keep track of all the players without a […]
by New Deal Democrat Industrial production: once again, the hard data fails to confirm the sof … ofertheluvofgaud This morning’s report on industrial production confirms that the economy remains on autopilot, and that’s a good thing. Overall production increased again, and the trend of rising production since spring of last year is clear: When we […]
Why Is The Fed Raising Interest Rates As Fast As It Is? I have a theory that at least some people at the Fed are supporting interest rate increases not because they are worried about incipient inflation that must be nipped in the bud in advance under a regime of inflation targeting, but because they […]
Real retail sales disappoints . . . the Doomers This morning’s report on July retail sales once again belies the claim that “hard data” and “soft data” are divergent.. Not only did July come in at a strong +0.6% (+0.5% ex-autos), but June was revised up as well. Given basically non-existent inflation, this means that […]
“The Changing of the Guard:” the prescient 1980 book that foretold neoliberalism About a month ago I read the synopsis of an interview in which Thomas Frank described the near evisceration of the Democratic Party. Here’s his simple version: “[T]he Democrats have, what happened is that some years ago they decided they didn’t want to […]
In which I (partially) disagree with Dean Baker about the stock market Dean Baker complained yesterday about pundits who talk about the stock market in terms of economic well-being: As someone who routinely considers both corporate profits and stock prices in terms of economic well-being, I disagree — somewhat.
On JOLTS, I continue to dissent The only two significant items of data in the second week of the month typically had been the JOLTS report and the Labor Market Conditions Index. I say, “had been” because the Fed has discontinued reporting the LMCI. Here’s their explanation: Although the LMCI was reconstructed back 50 years, […]
(Dan here…posted a day later) The Financial Crisis Tenth Anniversary Yesterday, August 9, is being widely proclaimed as the tenth anniversary of the beginning of the financial crisis that fully crashed in September, 2008, with the recession that began at the end of 2007 plunging more profoundly and widely after that. The specific event on […]