When is enough, enough??? Clarence Thomas self-indulgence in gift giving is ignored claiming ignorance of such practices. A while back, a long while . . . I was given an invitation to the Chicago Bears holiday get together (called a dinner and a party) by Gale Sayers. The only problem with this being, I was […]
According to recent reports, as of January 2025, US crude oil inventory is considered to be in a “good shape” with levels slightly below the five-year average. This indicates a comfortable supply situation going into the new year 2025. Recent inventory drops have been less than expected. Analysts are still cautious about potential future market […]
– by New Deal democrat Unusually this month, the ISM manufacturing index was delayed one day after the first business day of the month. In other words, it was released this morning instead of yesterday. In any event, a refresher that because manufacturing is of diminishing importance to the economy, and was in deep contraction both […]
What the Science of Predators and Prey Tells Us About the Morbidly Rich and Working People, Tom Hartmann, The Hartman Report Nature and economics share some fascinating patterns, one of which explains why Donald Trump is about to become president and how the morbidly rich have appropriated over $50 trillion from working class people since the 1980s. […]
Why Net Neutrality? “Former FCC Chairwoman Jessica Rosenworcel had called net neutrality “a necessity for daily life.” She said Thursday that Americans still want “fast, open, and fair” internet service and called on Congress to take action. The decision does not affect state laws in California, Colorado and Washington. Neutrality refers to the idea that internet […]
Juan Cole has a recap of the 2024 global warming picture. It ain’t pretty: “The World Meteorological Organization projected total global carbon dioxide (CO2) emissions in 2024 to be 41.6 billion tons. Some 37.4 billion of that was from humans burning petroleum, fossil gas, and coal. The rest was from deforestation. 2024 was the hottest […]
– by New Deal democrat Last month I started by report on construction spending by writing “ Construction spending for October also came in generally positive. On a nominal basis, total construction spending rose 0.4% to a new record, and residential spending rose 1.5%.” Well, you can forget that, because this month was one of those […]
Earned Labor Income Is a Small and Weak Lever. Unearned Property Income, and Wealth, Rule. – by Steve Roth Originally posted at Wealth Economics (Clicking (once or twice) on any of the pictures should enlarge them.) Economists and pundits have been cheered of late by the labor-share increase during the first couple of years of […]
The Justice Department December 31 announced the Madoff Victim Fund (MVF) will begin the 10th and final distribution. Over $131.4 million to victims of the Bernard L. Madoff fraud scheme will be distributed in this segment. The funds were forfeit by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud […]
America’s Forgotten Generation (of Prosperity) – by Paul Krugman Krugman Wonks Out How and why the postwar boom got memory-holed. So the don’t-know-much-about-history gang are at it again, asserting that the Gilded Age was an era of unique prosperity. I wasn’t planning on another post today, but this really needs addressing in a short note. […]