Senator Whitehouse posted the clips of his presentation on the Powell Memo at youtube. Ken posted the text of it here. I have known about the Powell memo for a long time. People really do need to come to internalize just what this part of our political history means for our present day social structure […]
Writing for the majority on the ACA ruling, Justice Breyer: “We do not reach these questions of the Act’s validity, Texas and the other plaintiffs in this suit lack the standing necessary to raise them.” The lack of standing comes from: “The states having brought the suit could not show that they will suffer any […]
Why Are Infrastructure Costs So High In The US? Sorry, but anybody wanting some simple answer on this one, especially an ideologically neat one, sorry, there is not one, Indeed, on this important issue, there is a large problem, but not remotely a clear answer regarding why there is this large and important problem. For […]
Your money or your life. Highway robbery has been around since. On the high seas, was known as piracy. Been writ that pirates didn’t always even offer the choice. All made for generations of good bedtime reading for youth. And, for mock sword, and bow and arrow, fights. And, really bad movies. Thanks, Howard Pyle, […]
Industrial production on the verge of exceeding pre-pandemic level Industrial production is the King of Coincident Indicators. It is the single datum that most frequently coincides with the NBER determination of the beginning and end of recessions. In May, total production increased +0.8%. Manufacturing production increased +0.9%. Both current readings are the highest since the […]
by Joseph Joyce Measures of Global Income The difference between the income generated by the domestic production of goods and services and the income received by the residents of a country is the basis of the distinction between Gross Domestic Product (GDP) and Gross National Income (GNI). The latter measure includes net foreign-sourced income, the […]
May Retail Sales Fell 1.3% After April Sales Were Revised 1.4% Higher Seasonally adjusted retail sales fell 1.3% in May after retail sales for April were revised 1.4% higher . . . the Advance Retail Sales Report for May (pdf) from the Census Bureau estimated that our seasonally adjusted retail and food services sales totaled $620.2 billion […]
May retail sales decline, but 10%+ gain in retail sales since the onset of the pandemic remains intact [Note: I’ll comment on industrial production in a separate post later] I feel like I could simply repost my retail sales piece from one month ago, because the story is the same: at first glance, May’s retail […]
The Cornwall Paradox The County of Cornwall has been in the news as the site of the G7 summit, just ended. In today’s Washington Post an article “In Cornwall, a jarring contrast of power and poverty,” by Karla Adam and Loveday Morris, a paradox of this visit is highlighted and brought out, indeed, that Cornwall […]