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

Agenda of Biden’s Build Back Better Bill

The same as the American Rescue Plan Act and the Improving Medicare Coverage Act, no one is talking of the detail within the Build Back Better Agenda bill. This makes it very vulnerable to pseudo Senators like Krysten Sinema and Joe Manchin who are holding out for what ever reasons or just for spite. It […]

Continuing accelerated consumer inflation points to sharp slowdown, but no recession imminent

Continuing accelerated consumer inflation points to sharp slowdown, but no recession imminent Inflation, along with the expiration of the emergency pandemic payments, is one of the two big threats to this expansion. This morning’s report on consumer inflation for September, at 0.4%, was certainly elevated compared with its typical pre-pandemic reading of 0.2%/month, but on […]

August JOLTS report: progress towards a new jobs equilibrium?

August JOLTS report: progress towards a new jobs equilibrium? This morning’s JOLTS report covers August, which you may recall featured a disappointing jobs report (since revised somewhat higher ), during which the Delta wave was growing to its worst levels, and two months after a number of GOP-controlled States terminated enhanced unemployment benefits, on the […]

What Secretary and former Fed Chair Janet Yellen proposes

Farmer and Farm Economist Michael Smith on latest proposed business policies which can impact U.S. Farming. Secretary and former Fed Chair Janet Yellen recently went on CBS in order to sell the changes to the tax code provisions that would trigger events yet unknown at the $600 level,  and potentially beyond. I’ll leave this proposal […]

Oil Price highest since 2014; natural gas price falls from 12 year high – largest inventory build in 16 months

and gasoline exports at a 26 month low . . . Blogger and Commenter R.J.S., Focus on Fracking: “Oil price is highest since 2014; natural gas price fell from 12 year high after largest inventory increase in 16 months” Oil prices finished higher for the 7th straight week after OPEC decided to only add the […]

Bad Reporting On Latest Sveriges Riksbank Prize In Memory Of Nobel

Bad Reporting On Latest Sveriges Riksbank Prize In Memory Of Nobel  So the recipients are half of it to David Card for his 1994 study with the late Alan Krueger, who committed suicide not too long ago, on minimum wages, and how raising them might actually sometimes increase employment.  The other half was split between […]

Employers Added 194M jobs, U3 Down, PR Declined

Blogger RJS, Marketwatch 666, September jobs report September Summary Major agency reports released this past week included the the Employment Situation Summary for September from the Bureau of Labor Statistics, the August report on our International Trade from the Commerce Dept, and the Full Report on Manufacturers’ Shipments, Inventories and Orders for August, and the August report on Wholesale Trade, Sales […]

The Passing Of Peter Flaschel And The Bielefeld School Of Macroeconomics

The Passing Of Peter Flaschel And The Bielefeld School Of Macroeconomics  German economist Peter Flaschel died yesterday at age 78.  I am not sure precisely of what, although it was not Covid-19.  He had been in declining health for some years, with a heart problem at least.  Roberto Veneziani, from whom I learned the news, […]

The Origin Of The Terms “Socialism” and “Communism”

The Origin Of The Terms “Socialism” and “Communism”  This is one of those rare times when I post here about my academic research, but on this matter, well, I think this is of broader interest than the usual obscuranta that I usually study academically. So, my wife, Marina, and I were asked to contribute to […]