June retail sales decline after taking inflation into account, but overall pandemic gains “stick” As usual, retail sales is one of my favorite indicators, because it gives us so much information about the consumer economy. The news for June was mixed. Nominally retail sales were up +0.6% for the month. But after taking into account […]
DUC well report for June, Focus on Fracking, RJS Monday of this past week saw the release of the EIA’s Drilling Productivity Report for July, which includes the EIA’s June data for drilled but uncompleted (DUC) oil and gas wells in the 7 most productive shale regions….that data showed a decrease in uncompleted wells nationally for the 13th […]
Socially Ambivalent Labour Time VI: TSV part 3, chapter 21: “Our pamphleteer overlooks two things” Although Marx discussed socially necessary labour time in chapters 4, 8, 9, 16, 17, and 20, he didn’t mention it in chapter 21 where he discussed the 1821 pamphlet, The Source and Remedy of the National Difficulties by Charles Wentworth Dilke. Marx’s […]
Industrial production slightly positive overall, but with negative revisions Industrial production is the King of Coincident Indicators. It is the single datum that most frequently coincides with the NBER determination of the beginning and end of recessions. Production increased 0.4% in June, but May’s result was reduced by -0.2%. The manufacturing component declined less than […]
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 […]
Imagine that in the 1970s you bought a plat along the coast in Florida that was on a large pile of sand that was basically at sea level upon which you planned to build a four-hundred unit, twelve story tall, condominium complex. This complex was to rest on a slab of concrete that rested atop […]
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 […]
This post is before my time of writing at Angry Bear. It does fit in nicely with the need for reasonable economics of our times and I noticed its popularity growing . The author of this piece is Kash, one of the originators of AB. This is a rehash which has seen rising popularity. If […]
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 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 […]