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

First Quarter GDP Growth at 1.6 Percent

by Dean Baker Commerce Department reported that GDP grew at a 1.6 percent annual rate in the first quarter, some-what lower than had generally been predicted. However, the headline number was held down by slow inventory accumulation, which subtracted 0.35 percentage points from growth, and a big rise in the trade deficit, which lowered growth […]

The snooze-a-than in jobless claims continues; what I am looking for in tomorrow’s jobs report

 – by New Deal democrat  The snooze-a-thon in jobless claims continues, as both initial and continuing claims are well-behaved within the narrow range where they have been generally for the past six months. Initial claims were unchanged least week at 208,000, while the four week moving average declilned -3,500 to 210,00. With the usual one […]

Monthly payments could get thousands of homeless people off the streets

Doug Smith Los Angeles Times Monthly payments for housing could get thousands of homeless people off the streets. It sounds like a voucher idea where the funds could only be used only for housing, apartments and heat and electricity. Or paid directly. A stipulated basic income to house thousands of homeless people in various situations […]

A Doctor at Cigna Said Her Bosses Pressured Her to Review Patients’ Cases Too Quickly

I first caught up with this article on MedPage Today, “Doc Blows Whistle on Cigna.” I also read the ProPublic report. Both are reporting on denial of claims before and after treatment and the productivity of claims reviewers. Additionally, the report discusses the use of labor (nurses, etc.) outside of the US to evaluate claims […]

How Did Under-40s Get So Much Richer During Covid?

by Steve Roth Wealth Economics This picture from the Center for American Progress, and variations, have been making the rounds on the interwebs lately, eg here, here, and here. The headline is that younger households got 49% richer during/since Covid, in inflation-adjusted “real” terms. But some drill-down is in order here. What actually happened? Start with background. Here are the nominal […]

March JOLTS report: declines in everything, fortunately including layoffs

 – by New Deal democrat After almost half a year of general stabilization, or very slow deceleration, the JOLTS report for March featured multi-year lows in almost all of its components.  Job openings (blue in the graph below), a soft statistic that is polluted by imaginary, permanent, and trolling listings, declined -325,000 to a three year […]

Manufacturing treads water in April, while real construction spending turned down in March (UPDATE: and heavy truck sales weren’t so great either)

by New Deal democrat The Bonddad Blog A preliminary programming note: In addition to the manufacturing and construction reports, today we also get the JOLTS report for March, and updated motor vehicle sales reports. Yesterday we also got the Employment Cost Index for Q1. I will comment on the JOLTS report later today. I’ll comment on […]

Eric Segall tells us what he really thinks about the Roberts court

Law professor Eric Segall is a leading critic of the Supreme Court.  In a blog post today, he doesn’t pull any punches: The disaster that was the Trump v. United States oral argument reminded me of how little the Roberts Court has actually cared about rule of law values and legal transparency during its 18-year run. Leaving […]

Supreme Court watchers mollified themselves (and others) with vague promises 

Dahlia Lithwick and Joseph Stern as taken from Slate Good read as one can see how the SCOTUS 5 or 6 are twisting the logic of Constitution first and portraying the president into something more reasonable. Military swears first to the Constitution. This is a very strange read for myself. Others may not find it […]