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

August producer prices largely a reflection of volatile food and energy prices

– by New Deal democrat Consumer price inflation will be reported tomorrow. In the meantime, this morning producer prices for August were reported. Normally I don’t pay too much attention to producer prices – and I won’t this month, either. But let me put that in some context. In the past, when producer prices have outstripped […]

Trump Taking Much of Medicaid and some of Medicare Away . . .

Trump has no fear of US Citizens. Republicans have reason to be fearful in the next election, if this bill is passed. But Repubs are not showing much fear. A lot of detail in this commentary. To make things from bad to really bad? The new law restricts a states’ ability to raise revenue for […]

BLS Revision is Worse than Expected

Understanding the latest BLS Jobs report. What they are stating is, the labor force is large at 140 million and companies tend to overstate employment. Probably for good reason. If they all stated what was really happening in their company and industry, we probably would have been in trouble far earlier. In which case, profits […]

RFK Jr is America’s Lysenko

In the early years of the USSR, Soviet genetics was internationally recognized. Then along came Trofim Lysenko, an agronomist who convinced Stalin that he could bypass the laborious genetics of plant breeding to develop strains of wheat through the transmission of acquired traits. This fit well with the Soviet philosophy that humanity could be transformed […]

The “gold standard” QCEW suggests there may have been no growth at all in jobs so far this year

 – by New Deal democrat The Quarterly Census of Employment and Wages (QCEW) for Q1 of this year was released this morning. Perhaps more importantly, the numbers for last year were finalized. This forms the “preliminary benchmark” for the actual reported changes to payrolls over that period which will show up in next February’s report for […]

Political Appointees will Review Scientific Grants

A first level of review is carried out by a scientific review group (SRG). It is composed (primarily) of non-federal scientists who have expertise in relevant scientific disciplines and current research areas. Their role is to assess the overall impact a proposed project (or resource, or training, or center, etc.) will likely have on the […]

Trump’s Tariffs exceeded his power under IEEPA

Briefly: Two similar versions of the same tariffs case. What we are waiting on is whether SCOTUS will hear this case as the U.S. Court of Appeals for the Federal Circuit upheld the Court of Interntional Appeals ruling by a vote of 7-4. “Group of small businesses calls on Supreme Court to decide tariffs case,” SCOTUSblog. With […]

The Democratic strategy on the budget is coming into focus.  I have doubts.

There are more stories suggesting that the Democrats are preparing to hang tough in budget negotiations.  But it’s not clear if their tough talk is just marketing aimed at appeasing base voters, or if it reflects a newfound commitment to budgetary hardball.  Nor is it clear that Democrats have a negotiating strategy that will be […]