The Angry Bear

Up to 35,000 UBS and Credit Suisse jobs at risk, SWI swissinfo.ch The megabank created by the UBS takeover of Credit Suisse is reducing its global workforce by 20-30% or between 25,000 to 36,000 positions. This is according to the  Sonntags Zeitung newspaper, citing an unnamed senior UBS manager. This was interesting in the US. According to CNBC Markets (Elliot Smith, three issues were occurring and pushing Credit Suisse to the brink of...

National FDI Data Detail Just some Information to throw around. Ten States Leading America’s FDI Manufacturing Workforce, globalbusiness.org and here National FDI Data – GBA globalbusiness.org (see chart to the right). The article declares there are ten states which are benefiting the most from Foreign Direct Investment (FDI). This is taken from a pitch in Global Business which was also picked up in DBusiness (Detroit). “In the past...

I had a Facebook discussion yesterday about statistics. At one point, my interlocutor posted “You should know better than anyone that statistics can be manipulated to actually show the opposite of what is real.” Well, just to be clear, that’s not a problem with statistics, that’s a problem of motivated reasoning, which is not a statistical algorithm.The topic of our discussion was economics, and he says he trusts Krugman on economics. Krugman, of...

Both manufacturing and construction continue to contract  – by New Deal democrat As usual, we start the month with data on last month’s manufacturing activity, and the previous month’s construction activity. This month, both were negative. The ISM manufacturing index, which has had an excellent record as a leading indicator for the past 75 years, declined to 46.3, its lowest level since the pandemic recovery began. The new orders index,...

Open Thread March 28, 2023, Angry Bear, Angry Bear Blog Tags: open thread

I have been hitting the issues with FFS Medicare vs Medicare Advantage hard. Primarily, Medicare Advantage is draining Medicare funding due to the $billions being spent due to over-coding. Twelve $billion of over-coding charges in 2020. Another $15 billion of over-coding charges in 2021. CEOs are raking in higher salaries due to the preferential treatment the Medicare Advantage plans receive from Congress and CMS. Over-coding is just one of the...

Steve Hutkins and former N.C. Postmaster Mark Jamison have been following the issues with the USPS, its reorganization, and the attacks on it by politicians and commercial interests. This particular post is detailing parts of the reorganization of it. As you will read, the plan is to establish distribution centers where Mail Delivery Personnel would pickup the mail and go on their delivery routes. The plan was developed and put into play by USPS...

Weekly Indicators for March 27 – 31 at Seeking Alpha  – by New Deal democrat I keep forgetting to put up this link on Saturdays, but you know where to find it: my Weekly Indicators post is up at Seeking Alpha. The good thing about high frequency indicators is you can see what is happening with trends much more quickly than with monthly releases. The bad thing is that the drip-drip-drip can take forever! Anyway, the fallout from SVB...

Real income in February rises slightly; real spending declines slightly; real total sales in January rose sharply, as expected  – by New Deal democrat As I wrote earlier this week, personal income and outlays is one of the two most important data releases at the current time, along with the monthly jobs report. That’s because these are the two sectors of the economy that have most prominently not rolled over, and are keeping us out of...

Infidel753, Prosecuting Trump — a caveat, Infidel753 Blog. Just two weeks early . . . It’s starting to look as if Trump may be indicted fairly soon, an event much of the left has been impatient to see for some time (what I myself most wanted was to simply never hear another word about him, but it’s clear that the reality we live in is not going to grant that wish for the foreseeable future).  The case coming to a head is the Stormy Daniels...