The Angry Bear

I (run75441) saw this article on MSN early (AZ time) this morning and sent it off to Dale. For those of you who may not have been around. Dale Coberly, Bruce Webb and Arne would discuss Social Security and how to save it. You also may not know it; Dale and Bruce proposed the Northwest Plan to a NJ Congressional Representative who forwarded it on to the Social Security Administration. In turn, SS replied. it could work. I was not privy to much of...

Housing permits, starts, and units under construction telegraph a deeper economic decline ahead Housing had another negative month in July. Permits (gold in the graph below) declined -1.3% to 1.674 units annualized, an 8 month low. Single family permits (red, right scale) declined -4.3% to 928,000 units annualized, the lowest since January 2020 except for the pandemic lockdown months. And the three month average of starts (blue) declined to...

Housing affordability: at or near the worst this Millennium The NAR calculates a monthly “housing affordability index,” which estimates the median mortgage payment for the median priced existing home based on an estimate of median household income. For June that came in at 98.5: Not only has affordability deteriorated sharply this year, but the June reading was the lowest in over 20 years, i.e., even worse than at the peak of the housing...

Angry Bear Michael Smith’s post The Future of Farming reminded me that food and water supply issues need regular updates and highlighting. This report caught my eye since we here in Boston are experiencing very dry conditions with hot day temps. The U.S. could see a new ‘extreme heat belt’ by 2053: The report, released Monday by the nonprofit research group First Street Foundation, found that within a column of America’s heartland stretching...

Reactors in France had to reduce power because of low flow in the rivers being used for cooling. The pictures show Lake Garda in Italy at record lows. The Rhine is becoming too low for barge traffic, for cruise ships. In Rome, the River Po is low. The Mediterranean is too warm. We hear a lot about mitigating the effects. OK, as long as it isn’t being used to enable; instead of addressing the causes. No doubt stop gaps are needed until we get...

The use of non-pharmaceutical interventions has been a source of persistent controversy during the COVID pandemic.  Opposition to NPIs was the motivating impulse behind The Great Barrington Declaration (GBD), which called for an immediate end all “lockdowns” and the use of “focused protection” to “protect the vulnerable”.  The GBD was trumpeted by the American Institute for Economic Research, a previously little-known organization that “educates...

In the second part of this “Letters from an American,” Prof. Heather talks about the violence being exhibited by trump-supporters. One man was killed after attacking the Cincinatti FBI office. That is a death wish in itself. Those people do not miss. As many conservatives speak out against the raid, not to mention past opponents such as Andrew Yang, the daughter of former VP Richard Cheney only dug her heels in deeper on her anti-Trump stance....

As you “should” know by now, Alan Collinge is an activist and has organized the Student Loan Justice Org a number of years ago. The Organization attempts to represent those student loan borrowers who have no recourse for forgiveness or bankruptcy as every other person in the nation has when taking out a loan? Alan and his thousands of followers having gathered well over 1 million signatures on a petition seeking relief from these loans. The...

Weekly Indicators for August 8 – 12 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Gas prices continue to be the dominant driver of changes in the current situation. As usual, clicking over and reading will bring you fully up to date on the economic nowcast and forecast, and also reward me a little bit for my efforts. ...