Trump goes golfing while the nation burns . . . As taken from The Daily Beast “Amid the carnage of this week wrought by his own decision to start a global trade war and send the stock market plummeting, President Donald Trump experienced a personal victory after winning a round of golf at his own golf course. On Saturday, Trump won the […]

“Tesla wins, Detroit bleeds,” Bernstein analysts led by Daniel Roeska declared Thursday. “Tesla is the clear structural winner…. For everyone else, this is a margin reset and real drag on near-term earnings power,” Roeska continued.” The only imported part for Teslas appears to be a wire harness made in Mexico. That’s expected to add less […]

Rachel Maddow: Trump crashed the world’s markets based on on the advice of a fictional economist. Summary The video highlights a Rachel Maddow segment revealing that Donald Trump’s tariff policy, destabilizing global markets, was based on advice from a fictional economist invented by Trump adviser Peter Navarro. This absurd but dangerous origin story underscores the […]

– by New Deal democrat My question over the past year has been whether “deceleration” would turn into “deterioration.” For a “soft landing,” deceleration would need to end, and the numbers stabilize, vs. continuing to deteriorate towards an actual downturn. With the stupefying economic moves by the new Administration, looking for hard data indicating the onset […]

– by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. You may be surprised to learn that despite the 10%+ stock market crash on Thursday and Friday, my rating for the short leading indicator of the S&P 500 is still “neutral.” That’s because the market is extremely volatile. There was an all-time […]

– by New Deal democrat Because manufacturing is much less important to the economy than in the decades before the Millennium, the economically weighted average of the ISM services index (75%) as well as manufacturing (25%), especially over a three-month period, has been much more accurate since 2000. In March the expansionary headline and new […]

Central beliefs of MAGAnomics: • If people get money (wages, whatever) they just eat it directly. They don’t pass it on to someone else, who then passes it on to someone else, etc…; • There are no gains from trade, individually or between countries; • If the government spends money, it’s just fake somehow. All […]

From the Financial Times (paywalled) via Eschaton: “Hedge funds have been hit with the biggest margin calls since Covid shut down huge parts of the global economy in 2020, after Donald Trump’s tariffs triggered a rout in global financial markets. “Wall Street banks have asked their hedge fund clients to stump up more money as […]

– by New Deal democrat This week initial jobless claims declined -6,000 to 219,000. The four week moving average declined -1,250 to 223,000. With the typical one-week delay, continuing claims rose 56,000 to 1.903 million, the highest number since 2021: Since last year this week there was something of an outlier to the upside, by […]

GOP’s subservience to Trump and Musk is also problematic for Democrats featured at MSNBC originally. The GOP is throwing out the powers that the Constitution gave Congress to better bow to the Republicans scrambling to keep Trump and Musk from hurting their constituents. The Constitution’s authors clearly saw Congress as being the first among equals in the […]