Basically, a story about big oil selling prosperity to a country by having their cricket team televised on TV and building a new stadium to be completed by 2025. Exxon and their partners were busy telling the story of fossil fuels as the solution to poverty. This story told as more and more Global North […]

The American working class is doing better, thank you very much  – by New Deal democrat With the release of the CPI report earlier this week, I can update several measures of average middle class American income. Real average hourly wages increased 0.2% in June, and are up 1.6% from one year ago: Real aggregate payrolls […]

I was catching up on the back issues of New Yorker accumulating on the coffee table, and read an article about the rise and decline of libertarianism in the GOP. The idea that anything resembling libertarianism was actually popular in the Republican Party is a joke. Ostensibly, libertarian wants to shrink big government. OK, lets […]

Powell: “Labor costs are really the biggest factor in most parts of that sector (service),” Powell said. “We need to see a better alignment of supply and demand in the labor market and see some more softening in labor market conditions so that inflationary pressures in that sector can also begin to subside.” Open Thread […]

Initial claims move closer to red flag recession warning  – by New Deal democrat Initial jobless claims declined -12,000 last week to 237,000. The four week average declined -6,750 to 246,750. With a one week delay, continuing claims increased 11,000 to 1,729,000: More importantly for forecasting purposes, the YoY% increases were 7.2% for the weekly […]

Angry Bear has been writing about the Opioid epidemic and what has been influencing it for years. I was asked to write on it by an association and continued to do so. It would seem there should be more money coming forth from companies who promoted its use. If we go back and read the […]

The existential risks associated with global warming include coastal flooding, loss of fresh water, desertification, life-threatening temperatures and loss of ocean fisheries. Another risk is the spread of infectious diseases that are normally restricted to tropical latitudes. While the prospect of eliminating insect vectors such as Aedes and Anopheles mosquitoes, tsetse flies and triatomine bugs […]

June inflation almost non-existent except for the fictitious measures of shelter  – by New Deal democrat  The message of this morning’s consumer inflation report was the same for almost everything except for the fictitious measures of shelter: sharp deceleration everywhere. Let’s take a look: Headline CPI up 0.2% m/m and 3.1% YoY (lowest since March […]

as often happens, I felt moved to reply to the e-mail that Noah Smith blasts out. On my PhD supervisor Larry Summers to whom I owe a debt I can never repay: who the fuck cares about inflation ? Answer: everyone but for opposite reasons. Economists think that, in the long run, inflation does not […]

In my early days of following Angry Bear, there was a climate change denialist troll whose handle was “CoRev.” Most of the stuff CoRev posted was standard denialist fare that had been debunked. At the time, one favorite denialist claim was the “hiatus,” a period between 2001 and 2014 during which warming seemed to “pause.” […]