The Angry Bear

by David Zetland (originally published at The one-handed economist) I’m not shy about criticizing the weakest elements of economics (there are many), so it’s sometimes a good idea to remind myself (and you!) of the strengths of economics, i.e., those characteristics that make it useful. Here’s an example based on a test-question I just asked: You are a baker facing higher energy (natural gas) prices. Higher prices result from (choose one...

Another blast from the past before I get into some newer information. It is still very relevant. It lays a foundation for other work I intend to do. This should come as no surprise as I have written on the topic of Healthcare Costs and Its Drivers before. In particular, the overriding statistic from an earlier post was 50% of the increase in healthcare costs was due solely to price increases between 1996 and 2013 (JAMA, Factors Associated With...

This Life: faith, work, and free time, part two At the beginning of this year, I posted a response to Martin Hägglund’s This Life: Secular faith and spiritual freedom. In October I learned of a conference next May in Belgium at which Hägglund will be one of the keynote speakers. So I submitted an abstract to present a paper. When it came time to start working on a draft for the conference, I remembered my blog post and it formed the core for...

I am not sure if you experienced similar. A year ago getting Delta Airlines customer service on the line took hours. And if you left a phone number, they never called back. I found calling them when they first opened up seemed to work. 6 AM? One time we even got better seats. Getting airline help is an issue. Minnesota is moving forward with their version of single payer for residents and those who work in Minnesota. It will be interesting to see...

November housing permits and starts: the biggest news is not in the headlines  – by New Deal democrat The report on housing construction for November was very much a tale of two very different trends – and the most important one will almost certainly be under-reported. Housing permits issued declined to 1.342 million annualized, the lowest number since June 2020, and before the pandemic the lowest since July 2019. The even more reliable...

According to U.S. Department of Education data, total enrollment in teacher preparation programs in Michigan has also been steadily dropping. More than 23,000 prospective teachers were in the pipeline in 2008. That figure eventually dipped below 7,000 in 2016 before increasing slightly to around 12,000 in 2019. “New program launching to address Michigan’s teacher shortage,” (wxyz.com), Brett Kast, Jordan Nagel. So rather than sit back and wait...

The moral and strategic importance of a Ukrainian victory seems hard to overstate.  A protracted, frozen conflict would be a humanitarian disaster for Ukrainian civilians in Russian occupied areas and war zones, it would lead to continued slaughter of troops on both sides, it would strip Ukraine of critical ports, it would embolden further adventurism by Russia and by China against Taiwan.  An extended war might cause or contribute to a worldwide...

US to purchase more oil to replenish the Strategic Petroleum Reserve (SPR). DOE Announces Repurchase of Oil for the Strategic Petroleum Reserve, Department of Energy, DOE. The U.S. Department of Energy’s (DOE) Office of Petroleum Reserves, December 16 announced that it will start repurchasing crude oil for the Strategic Petroleum Reserve (SPR). This repurchase is an opportunity to secure a good deal for American taxpayers by repurchasing oil...

Job growth beginning in Q2 looks to be substantially revised downward  – by New Deal democrat Last week the Philadelphia Fed published a working paper suggesting that in the second quarter of this year only 10,500 jobs were actually added, rather than the 1,047,000 as indicated by the monthly Establishment survey.  Here’s their graph: Here’s what you need to know about the QCEW (Quarterly Census of Employment and Wages):  The late...

I have no idea what is going on in Musk’s head, but hoo-boy.  Overpaying, firing essential employees, scaring off advertisers, implementing half-baked policies then quickly reversing himself, provoking regulators.  Now there are indications/rumors he is getting ready to bail.  And the problem for Musk goes way beyond Twitter.  Tesla’s valuation is insane.  It’s been based on nothing more than Musk’s showmanship for some time.  Despite declining...