I have been looking at the data recently to find economic series that would quickly reflect the impact of rising tariffs on the consumer. One is Retail Sales: GAFO. Think of it as department store type merchandise — goods excluding autos, food and energy. It is reported every month in both the Census retail sales […]
Two sharply contrasting reports on the economy to start September We got two contrasting views of the economy this morning. (Tuesday) First, the good news: residential construction spending increased in July. Below I show it in comparison with single family permits: Typically construction follows permits. In the past few years, it has been almost coincident […]
The Hurricane/Picture of Dorian Gray: A Perfect Moral Storm in Three Texts Andreas Malm, Fossil Capital: The temporal aspect is particularly striking,’ writes philosopher Stephen Gardiner, who has done perhaps more than anyone to foreground it, in A Perfect Moral Storm: The Ethical Tragedy of Climate Change: it catches us in a bind. Given that global warming […]
(Dan here…better late than not) by New Deal democrat An extended look at jobless claims, and a note about payrolls Let’s take an extended look at jobless claims, with a side note about payrolls. First, I have started to monitor initial jobless claims to see if there are any signs of stress. My two thresholds are:1. […]
Digital Sales Tax v. Tariffs on French Wine Even before Donald Trump departed for the G7 in Biarritz France, he threatened another trade war this time with the host country over the digital sales tax: U.S. President Donald Trump on Friday reiterated criticism of a French proposal to levy a tax aimed at big U.S. technology […]
Record Income Taxes? I should read more posts from Kevin Drum: The Yahoo News reporter comes close to explaining what happened by noting that there were more returns in 2018 than 2017. As you might guess, this happens every year as the US population increases. So let’s take a look at personal income tax receipts adjusted […]
Cheerleading for Austerity Not content to follow a news strategy that maximizes Trump’s prospects for re-election, the New York Times leads today with a story that combines economic illiteracy and reactionary scaremongering in a preview of what we’re likely to see in the 2020 presidential race. “Budget Deficit Is Set to Surge Past $1 Trillion” screams the headline, […]
It is standard analysis to see real and nominal imports as a share of GDP quoted to estimate the importance of imports in the economy. Currently that shows nominal imports are about 15% of GDP and real imports are some 18% of real GDP. But I suspect that this comparison understates the role of imports […]
Many of the photos were taken before water and air pollution were fully regulated. The Clean Air Act was passed in 1970, and the Clean Water Act was passed in 1972. Baltimore, Birmingham, Cleveland, Delaware, Denver, Kansas, Los Angeles, New Orleans, New Jersey, New York, Philadelphia, Pittsburgh, and San Francisco all feature here, in shots filled […]
Both Amazon and Fed ex have embarked on plans to deliver their own “last mile” package delivery previously contracted with the US Post Office. Here is a link to run75441 (postmaster Mark Jamison’s) piece on this process Fake News, Flawed Analysis, and Bogus Tweets from 2018 for a much more complete description. I have pulled […]