There is another world and economy out there which we do not see or hear much from other than when we talk politics and then we wonder why views may be different than ours. Michael Smith has been adding an agricultural dimension to the Bear which I think we need to understand. Years back, I […]
The absolute general law of capitalist accumulation is what “our pamphleteer” overlooked.. Our pamphleteer overlooks two things: The greater the social wealth, the functioning capital, the extent and energy of its growth, and, therefore, also the absolute mass of the proletariat and the productiveness of its labour, the greater is the industrial reserve army. The […]
on Surge in Imports of Industrial Supplies and Materials, Commenter/Blogger RJS at MarketWatch 666 US trade deficit was at a record high in June after rising by 6.7% from May, as the value of both our exports and our imports increased, but our imports increased by nearly five times as much . . . the Commerce Department report […]
Initial jobless claims continue in range, while continuing claims sharply decline Initial jobless claims declined another 14,000 this week to 385,000, still 17,000 above their best pandemic levels of 368,000 set on June 26 and July 10. The 4 week average of claims declined by 250 to 394,000, also 9,500 above its pandemic low set […]
EconoSpeak: Socially Ambivalent Labour Time VII: Capital volume 1, chapters one and three. Sandwichman, July 30, 2021 Afterword to the Second German Edition [of Das Kapital, Buch 1] (1873): I must start by informing the readers of the first edition about the alterations made in the second edition. One is struck at once by the clearer […]
Manufacturing sector continues to be on fire; but real construction spending plunges August data started out mixed. The ISM manufacturing index continued to show strong expansion. Both the overall and new orders components declined slightly m/m, but at 59.5 and 64.9 remained far about the breakeven point between expansion and contractions of 50.0: The simplest […]
The American Rescue Plan included a fully refundable child tax credit. The credit provides $3,600 per year for children under 6, and $3,000 per year for children between 6 and 17. The credit is paid out monthly, and slowly phases out for single parents who earn more than $112,500 and married couples earning more than […]
Coberly: “We need more jobs with longer hours and cheaper plastic toys to distract ourselves from our empty lives.” being facetious . . . . Or Do we? EMichael: American Average Work Hours: At least 134 countries have laws setting the maximum length of the work week; the U.S. does not. In the U.S., 85.8 percent […]
Q2 2021 GDP: goodbye recession, hasta la vista recovery, hello expansion Nominal GDP before inflation increased 3.1%, while real GDP for the 2nd Quarter increased 1.6%. The real annual rate of growth was thus 6.5%. Real GDP is now 0.8% higher than its last quarter before the onset of the pandemic: The recession is over, as […]
Farmer – Economist Michael Smith talks crop prices, Will History Repeat Itself?, AG WEB Farm Journal, Jerry Gulke High crop prices, like much what is going on in the greater economy might be transitory. The author keeps up the tone that high prices in the silage department usually only last a few months. We are […]