In The Theory of the Leisure Class, Thorstein Veblen coined a number of terms that have become terms of art: conspicuous consumption, conspicuous waste, pecuniary emulation, invidious comparison, and invidious distinction. He introduced the latter term as it pertained to different kinds of employment in a “higher barbarian culture”: …the distinction between exploit and drudgery […]
– by New Deal democrat First, a scheduling note. Several data releases have been made this morning. Several more delayed releases having to do with housing *might* be released tomorrow. Alas, the very late Q3 GDP report is not going to be released at all until the end of December. There will be no releases on […]
If Congress does not extend the enhanced premium tax credits, older Marketplace enrollees, especially early retirees and the self-employed, would see some of the steepest increases in premiums. The enhanced premium tax credits lowered the share of income enrollees had to pay toward premiums and expanded subsidy eligibility to people with incomes above 400% of the federal […]
An article by Lloyd Alter about the problematic construction of a tall building (NYC) that flexes and bends in the wind. The result of which are cracks in the in the exterior surface of the building which is also load bearing. Too costly for me to live there and I probably would not even if […]
Scenes from the very tardy September jobs report – by New Deal democrat An opening comment: it is an abomination that the US government treated its statistical agencies as doing expendable work. Thus, after over 85 years of continuity, there will never be an unemployment rate, nor a consumer inflation reading, for October. Which means we […]
Zelensky wrote on social media: ‘It’s important to not forget the main goal, to stop the Russian war and prevent it from breaking out again in the future. ‘That’s why we’re so carefully working on every point, on every step toward peace.‘ Trump had given Ukraine a Thursday deadline to respond to the proposal, which would require […]
If there was ever a thought of returning to a simpler era, we have blown right past it. Tru_p’s crude attacks on society have vacated want took years to put in place legitimately by a Congress. The nation has lost much of its concern for citizens with the exception of a few at the upper […]
How some of the world looks at the United States and its leadership . . . “Trump says US to skip G20 summit in South Africa,” Nikkei Asia. And the reasoning? “No U.S. government official would attend the Group of 20 summit in South Africa later this month, because of what he said were “human […]
From the Los Angeles Times, November 30, 2001: “Enron, which had been a component of the S&P; 500, was removed at the end of trading Thursday and replaced by Nvidia Corp., a Santa Clara, Calif.-based maker of computer-graphics chips. As index funds sold Enron and bought Nvidia, Nvidia jumped $2.25 to $53.61 on Nasdaq.” Blowout […]
– by New Deal democrat Although the government shutdown is over, most data points – including all having to do with housing – have not been updated, which means that alternate data sources, including the NAR’s existing home sales report, have temporarily become our best look at the housing market. As per my context all this […]