Yellen And Akerlof Or Akerlof and Yellen? I have already posted about the nomination of Janet Yellen to be Treasury Secretary, a historic first and most duly deserved. She is great and totally appropriate, and I have already bloviated at length on that. I am now going to discuss a more obscure and odd matter, […]
by New Deal democrat First look at the 2021 economy: housing As I’ve pointed out for years, housing is a long leading indicator. It can give us a decent read on the direction of the overall economy 12 to 18 months out. So the strength in the housing market in the past 6 months has […]
November data starts out strong with a very positive ISM manufacturing index The first November data point, the ISM manufacturing index, was reported this morning, and while it declined from last month, it remained very strongly positive. The overall index declined from 59.3 to 57.5, and the more forward-looking new orders index declined from 67.9 […]
by New Deal democrat Weekly Indicators for November 23 – 27 at Seeking Alpha A little later than usual, my Weekly Indicators post is up at Seeking Alpha. While there has been no big deterioration, there are further slight signs that the out of control pandemic is taking a toll on the recovery that has been […]
October personal income declines, but still well above pre-pandemic peak; increased likelihood of negative pandemic reversal in jobless claims Before I turn to this week’s report on jobless claims, a brief word first about October’s personal income and spending. Although personal income declined in October compared with September, more importantly depending on how you measure […]
Is Bitcoin A Bubble? We have all thought so, with no income and nothing backing it, and it went zooming from nearly nothing to over $19,000, only to fall back hard down to around $3000, where it more or less hung out for a couple of years with the occasional up to $6000 or so. […]
Yemen: More Damage To World Peace And Security Due To Trump Wrecking Everything As He Exits Michigan certified its vote results for Biden, and now crucially Emily Murphey at the GSA has agreed and now recognized officially that at least Joe Biden should be allowed to transition properly as has always happened in the past […]
Janet Yellen Will Be Treasury Secretary I have long been a great fan of hers as well as knowing her and her husband, George Akerlof, personally. Back in 2009 I was the first person to call for her to be named Fed Chair. I am very pleased with this appointment. This is as good as […]
The good mayor of El Paso is at wit’s end. He is worrying himself into the grave. The City’s hospitals and morgues are overflowing. Seems that the people have to work to eat, and, if they work, they get the virus and get sick, and, too many die. Damned capitalism is as deadly as the […]
(Dan here,,,I think worth looking at in American Affairs) New Fault Lines in a Post-Globalized World By Marshall Auerback and Jan Ritch-Frel November 20, 2020The economic damage of the coronavirus pandemic has upended the global economic system and, just as importantly, cast out the neoliberal orthodoxy that dominated the industrialized world for the past forty […]