Gas and oil price update: good news and bad news We’ll get some important house price information tomorrow, but there is no economic news of significance today, so let’s update gas and oil prices. As indicated in the title, there’s good news and bad news. I’ll start with the bad news first. According to GasBuddy, […]
Mike Konczal and Niko Lusiani at the Roosevelt Institute take a closer quantitative look at the sources of inflation the last two years: This research brief is the first to explore the size and distribution of markups (essentially the difference between sales and marginal costs) and profit margins across 3,698 firms operating in the US […]
Weekly Indicators for September 19 – 23 at Seeking Alpha – by New Deal democrat My Weekly Indicators column is up at Seeking Alpha. For the third week in a row, interest rates increased, and gas prices, along with the prices of other commodities, tumbled. While the decline in gas prices is good, the downturn in […]
It is refreshing to see Dean Baker using one of the words I use to describe what the FED does when they are hiking Interest Rates. Those FED actions do not create results over night. Because they can’t, read on. Powell appears to be frustrated by the lack of economic slowing. Maybe there are other […]
Focusing on the short end of the yield curve – by New Deal democrat When most analysts talk about yield curve inversions, they typically mean a measure of the 10 year bond vs. a shorter maturity like 3 month or 2 years. These certainly have merit – in fact the 10 year minus 2 year inversion […]
Jobless claims: the positive trend continues – by New Deal democrat For yet another week, initial jobless claims continued their reversal from had been in an almost relentless uptrend from spring through early August. This week initial claims rose -5,000 to 213,000 from a revised 3 month low of 208,000, while the 4 week average […]
Chandra Childers at Economic Policy Institute reports on household income: “Household incomes have fallen since 2019 despite growth in workers’ earnings“ “On Thursday, the U.S. Census Bureau released 2021 household income and household earnings data for states from the American Community Survey (ACS). National averages hide the wide disparities experienced by workers and families across […]
August existing home sales: confirmation that house prices have peaked Existing home sale by themselves are not that important economically, since there is a mere transfer in ownership, rather than a complete build. But they can help verify turning points, and in this case very importantly as to prices. But first, sales declined slightly (-2,000) […]
Housing: permits and average starts decline, while construction remains at peak The data on housing construction this month was mixed. While starts rose, their 3 month average, at 1.511 million annualized, was the lowest since September through November 2020. Meanwhile total and single family permits both declined, both to the lowest since June 2020: This […]
David Zetland writes on “replacement theory” (originally published at One Handed Economist) Replacement theory in the US “Replacement theory” is a semi-racist, often-hysterical belief that — in the US — White Christians will be “replaced” by others. The racist part arises from the vapid conception of “race” and/or “White” which rests on no biological or scientific facts. As […]