– by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. More the recent ‘same’ this week: short term and coincident indicators are a little noisy, but continue to say the economic OK. Meanwhile the longer leading indicators are mixed and weighing on future growth. As usual, clicking over and reading will bring […]
A review of the tax break impacts from 1981 till 2020 and who benefited the most from them. I found it to be interesting and detailed in what was occurring during this time period. As you read it and review the graphs, I believe you will find the majority of the tax breaks were targeting […]
America is the only industrialized nation where you can go bankrupt because of medical care. The ACA helped mitigate that risk for tens of millions, but the Trump Administration is promising to abolish the ACA. For those with some form of health insurance (private insurance, the ACA, Medicare), there’s still the challenge of (a) finding […]
– by New Deal democrat Industrial and manufacturing production slid further in October, by -0.3% and -0.5% respectively. They are also down respectively -1.2% and -1.8% from their late 2022 highs: It’s a good thing I suppose that manufacturing is no longer such an important part of the American economy, because as the below graph of […]
by Bill McBride Calculated Risk From housing economist Tom Lawler: Based on publicly-available local realtor/MLS reports released across the country through today . . . I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.97 million in October, up 3.4% from September’s […]
– by New Deal democrat Let me start with my usual reminder that real retail sales is one of my favorite economic indicators, because it tells us so much about the state of the consumer, and since consumption leads employment, it is a short leading indicator for that as well. In October retail sales rose 0.4% […]
Trump and his minions may not believe in global warming, but people whose livelihoods depend on understanding climate change—bankers, insurance companies and the military—know it’s real. So do non-humans whose livelihoods are compromised by climate change: “Native fish populations will likely continue their decline off of Massachusetts’ coast, while species from further south will move […]
– by New Deal democrat Initial claims have now completely reverted to trend after their recent hurricane-induced blip. Initial claims rose 3,000 for the week to 217,000, while the four week moving average decreased -5,750 to 221,000. With the typical one week delay, continuing claims declined -11,000 to 1.873 million: On the more important YoY basis, […]
The nation went through a period of high gasoline prices, even though the government released oil from the reserves. Now it appears the US has a glut of oil and may (and always has) lack refinery capacity. Prices appear to have stabilized in many places at about $3.50 per gallon (I may be paying more […]
No, the 1% aren’t the job creators—that’s the middle class and working class. Tax cuts for the 1%, of course, don’t create jobs, they just create greater wealth disparity: “The authors set out to examine all instances of major tax reductions on the rich in 18 OECD countries between 1965 and 2015 and identify the […]