April industrial production looks great! – until you account for the March revisions – by New Deal democrat The second of this morning’s three significant economic releases was April industrial production, and here the revisions were very important. In April total production increased 0.5% from March, but March itself was revised downward by -0.5%, so […]
Get busy winning, Digby’s Hullabaloo, Tom Sullivan Or get busy watching freedom die . . . Blue America‘s Howie Klein (Down With Tyranny) points to an old idea still current and still popular: FDR’s proposed Economic Bill of Rights (1944). Our political bill of rights, FDR saw, was inadequate for assuring “equality in the pursuit […]
Weekly Indicators for May 8 – 12 at Seeking Alpha – by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. There was more slow deterioration in the coincident indicators, but interestingly a bounce in several of the short leading indicators, particularly in the weakness of the US$ (which paradoxically is a positive, […]
This is a pretty good take on what the administration is attempting to do in the US with regard to manufacturing. With some help from Republicans, this could be a change in the US for labor. Labor’s input in manufacturing raw materials and finished product would result in increased income. Much pf Labor could be […]
I’ve had a lifelong fascination with New York City in general and with Manhattan in particular. My dad grew up in Brooklyn, and my paternal grandparents lived on Long Island (Hempstead) when I was growing up. I went to the 1964 Worlds Fair in Flushing Meadows, and once ate at an automat in Manhattan. When […]
Real hourly and aggregate wages update; plus further comments on consumer and producer inflation – by New Deal democrat Let’s update some inflation-related information. First of all, real hourly wages for non-managerial personnel increased less than 0.1% in April. They are up about 3% from just before the pandemic, and also up a little over 1% […]
Yellow flag from initial jobless claims turns a little more orangey – by New Deal democrat Initial jobless claims rose 22,000 to 264,000 last week, while the 4 week average rose 6,000 to 245,250. Continuing claims, with a one week lag, rose 12,000 to 1.813 million: Note that both measures of initial claims are at […]
I wish Biden’s advisors had given him some dialogue rebutting McCarthy’s plan for cuts in programs. It is this type of jawboning which make convince some, not all, citizens the need to change their minds. What is the harm, Republicans will bring to the economy over and above what the FED will incur on Labor. […]
During last night’s CNN “town hall” fiasco Trump had this to say about the debt ceiling: Former President Donald Trump on Wednesday urged Republican lawmakers to let the United States default on its debt if Democrats don’t agree to spending cuts. “I say to the Republicans out there — congressmen, senators — if they don’t […]
Inflation ex-shelter increasing at 1.0% annualized rate since last June; core inflation with actual house prices only up 3.0% YoY – by New Deal democrat Two months ago, I “officially” took the position that inflation had been conquered, and that, properly measured, the economy had actually been experiencing deflation since last June. With revisions, the […]