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

April Personal Income Down a Record 13.1%,

April Personal Income Down a Record 13.1%, Disposable Personal Income Down a Record 14.6%, Savings Falls 54.0%, Marketwatch 666, RJS The April report on Personal Income and Outlays from the Bureau of Economic Analysis reflects the partial unwinding of the March government stimulus in just about every metric it tracks except for prices, which are said to […]

Real personal income has completely made up its recession losses, now exceeds pre-recession peak

Real personal income has completely made up its recession losses, now exceeds pre-recession peak The last of the 4 monthly coincident markers for whether the economy is in recession vs. expansion was reported this morning for April. Let’s take a look. In nominal terms, personal income declined -13.1%, taking back most, not by no means […]

A Student’s View, The “Unshakeable Burden” of Student Loans

“Americans stress over ‘unshakeable burden’ of student loan payments,” The Guardian, Michael Sainato, May 2020 The nation can alleviate one person of their debt multiple times; but, it can not do so for the younger contingent consisting of minorities and white former students who would add to the growth of the economy if freed. Much […]

New home sales decline in April, revised sharply lower for March; prices continue to skyrocket, while inventory increases

New home sales decline in April, revised sharply lower for March; prices continue to skyrocket, while inventory increases This morning both new home sales and two price indexes for houses were released for April, completing our view of that important long leading sector. As anticipated, not only did new home sales decline for the month, […]

Farm and Ranch Report, May 2021 Beef Cattle Prices

This particular post is coming out of Angry Bear’s comment section. Farmer and Agricultural Economist Michael Smith is the author. Mike grows various food items on his farm and has a hands-on knowledge of what is occurring in the beef industry today. What Mike is touching upon today is the small farmer industry and how […]

New jobless claims continue to decline at rate of 100,000 per month, while continued claims stall at elevated level

New jobless claims continue to decline at rate of 100,000 per month, while continued claims stall at elevated level New jobless claims continue to be the most important weekly economic datapoint, as increasing numbers of vaccinated people and outdoor activities have led to an abatement of the pandemic – both new infections and deaths are […]

Larry Summers Doubles Down On His Inflation Prediction

Larry Summers Doubles Down On His Inflation Prediction  But somehow becomes vaguer about exactly how this is going to happen and show up, but he wants the Fed to stop it in its track, goshdarnit.  This is in a column appearing in the Washington Post, May 25, “The inflation risk is real.” Well, he does […]

April’s new housing construction and existing home sales

Commenter and blogger RJS at Market Watch 666 Just two widely watched reports were released this week: the April report on New Residential Construction from the Census Bureau and the Existing Home Sales Report for April from the National Association of Realtors…in addition to those, the Bureau of Labor Statistics released the Regional and State Employment and Unemployment Summary for […]

Existing vs. new home sales: sales have peaked, expect prices to soon peak

Existing vs. new home sales: sales have peaked, expect prices to soon peak I normally don’t pay much attention to existing home sales. Even though they constitute about 90% of the housing market, they have much less impact on the economy overall than new home sales (because all of the economic activity involved in building […]