February jobs report: a Big Win! There were two main trends I was looking for in this jobs report: 1. Is the pace of job growth beginning to decelerate? 2. Is wage growth holding up? Is it accelerating? The answers were: 1. The 6-month average of monthly gains, which was running at 548,000 in the 2nd […]
The cleric Th. Chalmers, in the otherwise in many respects ridiculous and repulsive work… has correctly struck upon this point, ‘Profit,’ says the same Chalmers, ‘has the effect of attaching the services of the disposable population to other masters, besides the mere landed proprietors, . . . while their expenditure reaches higher than the necessaries […]
Continuing claims continue near 50 year lows as the Omicron tsunami continues to recede, NDd [Programming note: Hopefully I’ll put up a coronavirus update later today.] Initial claims (blue) declined 18,000 to 215,000 (vs. the pandemic low of 188,000 on December 4). The 4 week average (red) declined 6,000 to 230,500 (vs. the pandemic low […]
Monetary Sovereignty, Sanctions and Russian Economic Policy The central role of economic sanctions in the US/EU strategy against Russia has returned international political economy to the center stage if it had ever left it. Here are some thoughts occasioned by Adam Tooze’s interesting analysis of Modern Monetary Theory (MMT) as perceived by the Russian economic policy apparatus, […]
There is the forbidden, there is the given, the meek, and the powerful, sustenance all the same. Biblically, the laws of kashrut were rather explicit, has scales, no kids in mothers’ milk, cloven hooves, well, there is a debate. How does it eat? The kosher laws were crafted initially as a code of conduct not for […]
RJS, Everything Got Worse . . . US oil supplies at a 13-year low; SPR at a 19 1/2-year low, total oil + products supply at a 94-month low after across the board draws; distillate supplies at a twenty-seven-month low The Latest US Oil Supply and Disposition Data from the EIA US oil data from […]
February car sales decline, but truck sales continue rebound; plus a comment about the urgency of dealing with supply chain issues I used to follow vehicle sales more closely – until the vehicle manufacturers, one by one, stopped reporting monthly, and only updated quarterly for the previous quarter. While this makes the data less timely […]
The low levels of Lake Powell and the lack of rainfall in the west are not symptoms of drought. They are stages of Global Warming.
World wide, wearing masks prevented millions of hospitalizations and saved hundreds of thousands of lives. When vaccines became widely available, they prevented millions of hospitalizations and saved hundreds of thousands of lives. Both could have saved many more lives, prevented many more hospitalizations but for opposition to masking and vaccination. So why were so many […]