– by New Deal democrat There was no big economic news today, despite the report on durable goods, which declined -9.3% in June — after a 16.5% advance in May. Simply put, it was all about aircraft orders from Boeing. Take out transportation, and orders rose 0.6% in May and 0.2% in June. The more important […]
Jonathan Last has an excellent piece at The Bulwark on the clusterf*** that is the Bezos WaPo and what it says about the business model of journalism in America. “The internet revolution was about lowering to zero the marginal cost of distributing content. The AI revolution is about lowering to zero the marginal cost of […]
– by New Deal democrat This morning’s report on new home sales for June indicated that sales continue to be rangebound, YoY prices continue to decline, and inventory of homes for sale continue to rise. This complicates the story of rebalancing between new and existing homes. To recapitulate, while new home sales are the most leading measure […]
Recently, Trump said he was “thinking about” ending capital gains taxes on home sales. Who benefits? “The biggest beneficiaries of such a change will likely be longtime homeowners in the country’s more expensive housing markets. “Removing or increasing the capital gains limit — currently $250,000 for single homeowners or $500,000 for married couples — on […]
Millions of Americans No Longer Have Hospital Care in Their Community Over the past decade, more than 100 rural hospitals have closed. As a result, the millions of Americans who live in those communities no longer have access to an emergency room, in patient care, and many other hospital services that citizens in most of […]
A long report by Joyce Vance today. It covers quite a bit of territory including Epstein. Maybe disagreeing courts on this one. One temp was let go . . . no loss there. Court’s ruling on Garcia. He could be deported again. Redistricting taken up and probably gerrymandered, Courts and Trump disagreeing. It is pretty […]
Traditionally, tariffs have been used to protect domestic industry, particularly agriculture and labor-intensive manufacturing. Trump has argued that his tariffs will return manufacturing to the United States and further that they will raise revenue helping offset the $3.4 trillion increase the tax cuts for the wealthy and corporations will add to the debt over the […]
– by New Deal democrat Last week I suggested that there might have been a break in the trend of higher YoY jobless claims, but there was not enough evidence yet. It is fair to say that this week’s report supplied that evidence. Initial claims declilned another -4,000 to 217,000, the lowest weekly number since mid-April. […]
This piece deserves a descriptive header by me. I will try . . . “first-term tax cuts) outweighed his concerns” Concerns by Hawley about what? People losing healthcare or concerns Trump will banish him and pick on him? The number also keep changing. An ~ 10 million people will lose access to US funded healthcare […]
– by New Deal democrat Housing data for June resumed this morning with existing home sales. Let me start with my usual caveat: although they typically constitute about 90% of all sales are the least important for forecasting purposes, since the main thing that happens is only a change in ownership, and therefore they have much less economic […]