The Angry Bear

Tom Schelling Is Rolling Over In His Grave, Econospeak By Barkley Rosser  Thomas Schelling got his Nobel Prize in economics for saving the world from global thermonuclear war in the 20th century, when many thought it was inevitable. Rival nuclear game theorist, John von Neumann, said to bomb the Soviets as soon as possible, like, tomorrow, preferably before noon  Schelling won the debate in real time, being an advisor on “Dr. Strangelove…”...

As usual it is best to just click and read as the column is well crafted and I can’t summarize or explain well. The topic? “On Monday, President Biden announced that Dr. Renee Wegrzyn, a biotech executive who previously worked at the Defense Advanced Research Projects Agency, better known as Darpa, would be the first director of the Advanced Research Projects Agency-Health, ARPA-H.” Klein is very enthusiastic. I know something about the...

Dana Millbank at the Washington Post points us to JD Vance, the MAGA Republican from Ohio running for a Senate seat in Congress and a potential American Julius Caesar. “‘Friends, Romans, countrymen, lend me your ears: They have come to resurrect Caesar. MAGA Republican leaders take umbrage at being accused of ‘semi-fascism,‘ which is understandable: Twentieth-century dictators such as Mussolini and the German guy with the mustache gave fascism...

It is refreshing to see Dean Baker using one of the words I use to describe what the FED does when they are hiking Interest Rates. Those FED actions do not create results over night. Because they can’t, read on. Powell appears to be frustrated by the lack of economic slowing. Maybe there are other issues behind the slow reaction such as supply chains, fiscal stimulus early on, healthcare subsidies, etc. The latter two were vital otherwise we...

Focusing on the short end of the yield curve  – by New Deal democrat  When most analysts talk about yield curve inversions, they typically mean a measure of the 10 year bond vs. a shorter maturity like 3 month or 2 years. These certainly have merit – in fact the 10 year minus 2 year inversion has typically had the longest lead time before recessions. But the NY Fed has written that special attention should be paid to the short end of the...

“Computer experts urge Georgia to replace voting machines,” (msn.com), Kate Brumback Should Georgia replace present voting machines with paper ballots? CNN — A Republican County official in Georgia escorted two operatives working with an attorney for former President Donald Trump into the county’s election offices on the same day a voting system there was breached, newly obtained video shows.The breach is now under investigation by the Georgia...

Summary: More on the Ukraine war, Russia calling up soldiers, Putin’s referendum, and a threat of nuclear consequences if the referendum in interfered. President Biden answers Putin’s threats. New York AG Letitia James filed a $250 million civil lawsuit against Donald Trump, the Trump Organization, and the family. COA rejects Federal Judge Cannon’s ruling calling it “abuse of discretion.” It appears as though Ginni Thomas will be testifying to the...

“Diesel Ram Owner Crushes Truck After New Jersey DEP Orders Deleted Emissions Fix,” (msn.com), Caleb Jacobs One diesel pickup truck owner was hoping to sell his modified diesel engine pickup truck. Unfortunately, the State of New Jersey DEP would not be issuing a new title unless he restored the pickup truck to its former EPA required condition. The DEP issued a violation to back up their demand. This came after attempting to sell the modified...

Jobless claims: the positive trend continues  – by New Deal democrat For yet another week, initial jobless claims continued their reversal from had been in an almost relentless uptrend from spring through early August. This week initial claims rose -5,000 to 213,000 from a revised 3 month low of 208,000, while the 4 week average declined another -6,000 to a new 3 month low of 216,750. Continuing claims, which lag somewhat, declined 22,000 to...