The Angry Bear

Some confounding SCOTUS decisions which do not have logical backing and are more partisan than normal. There is no standing on either of these cases. 303 Creative LLC v. Elenis This SCOTUS ruling is puzzling to me in that it brings up the question in my mind of when is harm done? “303” was not asked to make a cake. It did not refuse to make a cake. It assumed the law would be enforced upon them, if they refused to make a cake for a same-sex...

This is a pretty good take on what happened at SCOTUS for 303 Creative LLC v. Elenis and Nebraska (which had no standing) v. Biden. Recently and along similar circumstance, the court rejected complainants’ cases due to not having standing. In this instance, the court changes its tune. Ankush explains the reasoning for the court’s decision being flawed better than I do. I resurrected an older post done by an attorney about Roberts which I will...

Real income continues to set records, while real spending and real total sales falter  – by New Deal democrat Real personal spending faltered in May, and real total sales continued to falter in April, as of this morning’s report; while real personal income continued to be aided by the big decline in gas prices that started a year ago. Let me start with the good news. Real personal income less government transfer receipts is one of the...

This is a long post. Briefly in the beginning, the article discusses what the 340B program is about. It is pretty simple. The government has the pharmaceutical companies provide drugs to low income neighborhood facilities at a much lower price than what they would charge to hospitals in higher income areas. This is based upon the income of patients coming to the hospital. The hospitals are to pass the savings on to the patients. For some reason, the...

Initial jobless claims: still at distress levels, still not red flag recession warning  – by New Deal democrat Initial claims dropped -26,000 last week to 239,000, the top of their former range this spring. The more important 4 week moving average rose 1,500 to 257,500, a new 18 month high. With a one week lag, continuing claims declined -19,000 to 1.742 million: For forecasting purposes, the more important comparison is YoY. By this metric,...

History Rhymes Again – Civil Discourse, Joyce Vance, substack.com. Just over 60 years ago, Alabama’s segregationist governor, George Wallace, made his infamous stand in the schoolhouse door, barring the path against court-ordered integration at the state’s flagship university. It was June 11, 1963. Wallace, in his inaugural address, had promised voters “segregation now, segregation tomorrow, segregation forever.” But Wallace’s defiance...

Fed Chair Jerome Powell already warned he “may” have two more planned Fed rate increases in the making. Even a Fed comment is enough to stymie a housing market increase. US recession fears ease: surprisingly strong data on housing, consumer confidence, labor market, Financial Review, Vince Golle and Reade Pickert President Joe Biden told donors he thinks the US will avoid a potential recession that economists and banks have long been...

Calculated Risks Bill McBride Fed Chair Jerome Powell is participating in a panel discussion today at the European Central Bank (ECB) Forum on Central Banking 2023 in Sintra, Portugal. Federal Reserve Chairman Jerome Powell talked tough on inflation Wednesday, saying at a forum that he expects multiple interest rate increases ahead and possibly at an aggressive pace. From Jeff Cox at CNBC: Powell says more ‘restriction’ is coming, including...

Pent-up demand and sales: an update  – by New Deal democrat There’s no big economic news today. So while we wait to see if initial jobless claims continue to worsen tomorrow, and what happens with real personal spending and income, as well as real business sales on Friday, let me point you to an updated detailed discussion of why the Fed’s rate hikes haven’t yet caused the economy to turn down (hint: gas prices plus pent-up demand in several...

This is kind of a big deal. We have all heard about peanut allergy and how dangerous a reaction can be. A new skin patch might increase their tolerance of the legume, according to the results of a late-stage clinical trial. It is not 100% protection if exposed or ingested. It does offer protection equivalent to 3-4 peanuts and for children 1-3 years of age. A start to something better. Just in passing. Good News for Toddlers with Peanut...