by New Deal democrat Sales rebound from government shutdown-induced “mini-recession;” March housing lays an egg While March retail sales rose strongly, total business sales for February – also released yesterday – which includes manufacturers’ and wholesalers’ sales in addition to retail sales, continued to languish. This adds to the evidence that there was a “mini-recession” […]
That One Sentence On March 25, Matt Taibbi wrote in Rolling Stone: On Sunday, Attorney General William Barr sent a letter to Congress, summarizing the findings of Special Counsel Robert Mueller’s Russia investigation. The most telling section, quoted directly from Mueller’s report, read: “[T]he investigation did not establish that members of the Trump Campaign conspired or […]
What Is The “Collusion Delusion”? The Trump crowd has long claimed that there was “no collusion, ” repeatedly in many venues. Somehow the MSM picked up on this screed, and so it is out there that indeed that the Mueller Report declared that there was “no collusion,” a phrase that somehow Trump himself long put […]
March real retail sales very strong, but no “all clear” yet This morning’s retail sales report for March was very strong on both a nominal basis, up +1.6%, and also on a real, inflation-adjusted basis, up +1.2%. At the same time, it is still ever so slightly below its peak of five months ago, and […]
Childrens’ Day And The UN Convention On The Rights Of Children Associated with the UN Convention on the Rights of Children is a Universal Childrens’ Day. It is November 20, the date that in 1959 the UN adopted the first version of the Convention, which had 10 articles. It is celebrated in many nations, but […]
Josh Marshall explains it very well here. Mueller definitely did not write that he did not find proof without reasonable doubt that the President is a criminal. I want to explain it in a way which is not so good, in fact bad, basically malicious, too petty to be evil. Mueller clearly wrote that he […]
by Joseph Joyce Searching for Stimulus The global economy seems headed for a slowdown. The IMF now expects global growth this year of 3.3%, a drop of 0.2 of a percentage point from its previous forecast. Growth in the advanced economies is projected to be particularly feeble, with expected U.S. economic growth of 2.2%, growth of […]
YoY Industrial production and structural changes to the US economy since 1980 No big economic releases today, so let me follow up further with a few long-term comments on industrial production. This series goes back 100 years to the beginning of 1919. Since that time it has turned negative YoY 25 times: Of those 25 […]
Industrial production continues to decelerate Industrial production is the King of Coincident Indicators. In dating the onset and end of recessions, in practice the NBER relies upon industrial production more than any other measure. March 2019 production continued a string of recent disappointments, with overall production declining -0.1%, and manufacturing production unchanged. For the first […]