Wealth distribution in the US continues to be a first order economic issue Tomorrow (Thursday) is one of those days when just about Every Economic Statistic in the World will be released. In the meantime, no new data today. So, while we wait, let me send you over to this article by Wolf Richter analyzing the […]
It was a warm October evening, back in 1957, when we heard the news and began looking anew toward the night skies. The Union of Soviet Socialist Republics (USSR) had just launched a satellite that they called Sputnik into orbit; an event that changed the world forever. A whole new concept; actually, a couple, maybe […]
Monthly consumer inflation rate increases by most in 10 years; real wages decline, but real aggregate wages increase – by New Deal democratSeasonally adjusted consumer prices rose 0.6% in March. This was the biggest single month gain since June 2009, coming out of the Great Recession: Leaving aside the pandemic, since the 1980s recessions have only […]
by New Deal democrat Weekly Indicators for April 5 – 9 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. The big news continues to be a bifurcation between the currently unfolding Boom, fueled by the fire hose of monetary and fiscal stimulus, and the fallout in the long leading forecast based on […]
“…other enjoyments, of a purer, more lasting, and more exquisite nature.” A defense of Weber’s Protestant Ethic thesis from the 1940s by Ephraim Fischoff makes the plausible argument that critics — and many supporters — of Weber’s essay attached unwarranted causality to it, as if “Calvinism caused capitalism.” Instead, Fischoff explained: Weber’s thesis must be construed […]
“US Trade Deficit Rises 4.8% in February to Record High,” Commenter R.J.S. at Marketwatch 666 Our trade deficit rose 4.8% February, as both our exports and imports decreased, but the value of our exports fell by almost three times as much as the value of our imports did….the Commerce Department report on our international trade in goods […]
Jobless claims: progress pauses, as a new surge in COVID in Michigan and the Northeast causes concern New jobless claims are likely to the most important weekly economic data for the next 3 to 6 months. As the number of those vaccinated continues to increase, I expect a big increase in renewed consumer and social […]
With a Booming economy comes at least transitory inflation: March producer prices One of the economic subjects you are going to hear a lot about this year is inflation. We are recovering from a sharp if brief recession, and with the dual firehoses of fiscal and monetary stimulus, entering a Boom such as we have […]
February JOLTS report showed a pandemic still in control Yesterday morning’s JOLTS report for February showed that the pandemic was still in control of the numbers.This report has only a 20 year history, and so includes only two prior recoveries. In those recoveries: first, layoffs declined second, hiring rose third, job openings rose and voluntary quits increased, […]
Good Signs On Renewing US-Iran JCPOA Nuclear Deal One should probably not get too optimistic yet, although I have been getting quite worried about it, but a report in today;s New York Times seems to indicate that via the rather indirect negotiations going on in Vienna the US and Iran may have worked out a […]