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

And the Anti-Anything Whiners . . .

“30,000 people were trapped inside Shanghai Disneyland on Halloween after one person tested positive for COVID-19,” Business Insider, Sinéad Baker And United States Anti-Vaxers, maskers, and social distancers whine. Excerpt from the article: Disneyland Shanghai shut down after one positive COVID-19 case was found there. The nearly 34,000 visitors and staff had to get tested […]

“Lump” and “labor” are two words…

“Lump” and “labor” are two words… From: Tom Walker Sent: October 27, 2021 3:49 PM To: scott.a.wolla@ Subject: Lump of labor fallacy Dear Scott, I just came across your article, “Examining the Lump of Labor Fallacy Using a Simple Economic Model,” from November of last year on the St. Louis Fed website. I have done quite […]

September 2021 Income and Outlays Report

September Personal Income Fell 1.0%, Spending Rose 0.6%, PCE Price Index Up 0.3%; Savings Rate Lowest Since December 2019, Commenter and Blogger RJS, MarketWatch 666 Friday’s release of the September Income and Outlays report was concurrent with the GDP release on Thursday, and all the PCE data in the 3rd quarter GDP report we just covered actually […]

3rd Quarter GDP Grew at 2.0% as Real Final Sales of GDP Ticked Lower

Commenter and Blogger RJS, Marketwatch 666, 3rd Quarter GDP Grew at 2.0% Rate even as Real Final Sales of GDP Ticked Lower Our economy grew at a 2.0% rate in the 3rd quarter, quite a bit slower than the growth rate of the second quarter, as increasing consumer outlays for services, greater nonresidential fixed investment, […]

Somewhere

We are all somewhere on the spectrum. Little doubt. Probably not on the one-dimensional line of dots or Verne’s Green Ray (Le Rayon Vert). More likely on the two-dimensional Venn when a three is needed. A point in space is needed to depict those of us who are alone out there in space; else they […]

Weekly Indicators for October 25 – 29 at Seeking Alpha

 by New Deal democrat Weekly Indicators for October 25 – 29 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. There are increasing signs that commodity prices are peaking, the latest candidate – but it may just be noise! – is the price of oil. And if commodity prices are peaking, that gives […]

À la recherche du socially necessary labour temps perdu

À la recherche du socially necessary labour temps perdu How many Trained Marxists™ know there is no “socially necessary labour time” in the Grundrisse? I didn’t. When researching the provenance of the term, I was surprised to discover that it was present in neither the Grundrisse nor Marx’s Contribution to a Critique of Political Economy. The latter book had a lot […]

Whither the winter wave, and the trajectory of endemic COVID

Coronavirus dashboard for October 27: whither the winter wave, and the trajectory of endemic COVID Well, we got some definite good news yesterday in the FDA approval of vaccines for children ages 5-11. Probably about 1/2 of the 8.5 million children in this age group will be vaccinated by the middle of winter.In the meantime, […]

Senate Defunding Wuhan Research Already Defunded in 2020

Be aware, this post is choppy. My first point is when was the the Wuhan project defunded. The second point asks why are four Senators then passing bills to defund a project already defunded? And finally I am giving some history such as this research not being gain-of-function. This is Republicans being bad actors and […]