Relevant and even prescient commentary on news, politics and the economy.

June Producer Price Index for Final Demand and Intermediate Services

MarketWatch 666, R.J.S., June Producer Price Index Sets YoY Records for Final Demand and Intermediate Services; 46 year High for Prices of Intermediate Goods The seasonally adjusted Producer Price Index (PPI) for final demand rose 1.0% in June, as prices for finished wholesale goods rose 1.2% while margins of final services providers rose 0.8%…that increase followed a […]

Weekly Indicators for July 12 – 16 at Seeking Alpha

by New Deal democrat Weekly Indicators for July 12 – 16 at Seeking Alpha My “Weekly Indicators” post is up at Seeking Alpha. All timeframes continue positive, but the renewed outbreak of COVID – indeed, its uncontrolled exponential spread – is the proverbial elephant in the room, and is quite likely to Bigfoot the entire forecast […]

“The Sources of International Investment Income in Emerging Market Economies”

by Joseph Joyce “The Sources of International Investment Income in Emerging Market Economies” The Review of International Economics has published my paper on “The Sources of International Investment Income in Emerging Market Economies” in its latest issue. You can find the paper here, and this is the abstract: We investigate international investment income flows in 26 emerging market […]

Real wages decrease sharply – at least, if you include used vehicle prices

Real wages decrease sharply – at least, if you include used vehicle prices As I pointed out yesterday, the big increase in inflation over the past few months has made the YoY change in real wages for nonsupervisory workers negative. Let’s take a little closer look. Here is a graph of wages for nonsupervisory workers […]

Will A Rise in Interest Rates Lead to a New Debt Crisis?

by Joseph Joyce Will A Rise in Interest Rates Lead to a New Debt Crisis? The question of when the Federal Reserve will begin to reverse its loose policy stance continues to be a topic of widespread speculation. At last month’s meeting of the Federal Open Market Committee, its members showed a willingness to cut back on asset […]

Socially Ambivalent Labour Time: TSV part 3, chapter 20

Socially Ambivalent Labour Time: TSV part 3, chapter 20 Marx’s discussion of socially necessary labour time in Chapter 20 of Theories of Surplus Value is notable for the fact that it comes immediately before Chapter 21, where he doesn’t mention socially necessary labour time (but the concept lingers just below the surface in the latter chapter). He talked about […]

Why we’re failing to stop climate chaos

by David Zetland Why we’re failing to stop climate chaos Climate chaos (CC) is the largest threat to our collective prosperity. (Water scarcity, biodiversity loss, increasing vulnerability to viruses and bacteria are a few more.) But “we” (citizens of rich countries) are having a hardER time understanding and addressing CC due to a few strategic […]