The Angry Bear

I have not commented on Ukraine because I am horrified and have nothing special to say.  I would like to think the international community can find an “off ramp” for Putin, but I am pessimistic.  I believe the Russians will slowly improve their logistical position, and in any event that the most likely outcome is that the Russian army pulverizes Ukraine with overwhelming force.  I so very much hope I am wrong. On the domestic front . . ....

IT WAS BEDLAM!  From The Decline of American Capitalism by Lewis Corey (1934): Capitalist production saves on labor and multiplies the productive forces. But two contradictions arise which constantly torment capitalist enterprise. Saving on labor decreases relative wages and limits the conditions of consumption. This sets in motion the forces of excess capacity, sharpened competition, and mounting distribution costs. These costs absorb much, if...

The current spike in gas prices is not sufficient to bring about a recession (at least, not yet!) [Well, I never got around to a COVID update last week. Since most States don’t report over the weekend, I am going to wait until tomorrow. But the bullet point hint is: it increasingly looks like Omicron did what I expected Delta to do last fall. Stay tuned . . . ] Gas prices in my neck of the woods hit $4 over the weekend, and seem to be center...

  by New Deal democrat Weekly Indicators for February 28 – March 4 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha.  There are two big stories dominating the data. The first is how inflation, and the anticipated Fed rate hike, are affecting interest rates. The second is the ramifications, particularly for commodities, of the new Iron Curtain that has descended around Russia.  As usual, clicking over and reading should...

RJS, MarketWatch 666; January’s construction spending As usual, I estimate the impact of revisions to prior months on 4th quarter GDP, and the impact of the January report on 1st quarter GDP… Construction Spending Up 1.3% on Higher Costs in January after December and November Spending Was Revised Higher The Census Bureau’s report on January construction spending (pdf) estimated January’s seasonally adjusted construction spending would...

The Blindfolded Scaffolding Begins to Unfold We sense too little for the process of containment to unfold. Yet phenomenologists focus on early representations from the scaffolding for subsequent events in front of the now not-blindfolded infants. Infants looked at longer aspects of the psychoanalytic scaffolding: how reverie can be and is being a weird kind of blindfold.  Since our dynamical, reciprocal exchanges unfold and lead to changes —...

Fascist Traditionalism And Putin’s Invasion Of Ukraine  About a half-century ago I was urged by my oldest friend to read a book by Fritjof Schuon (1907-1998) written in 1953, The Transcendental Unity of Religions. The book’s title basically tells its message: that while each religion has its own exoteric forms that differ from those of each other, there is a core to all of them that is the same, a transcendental unity of cosmic truth and...

Vladimir who daren’t dismount III. Estragon is french for sunflower. How in the hell, Samuel? These days, fossils are paying good money for carbon capture stories. More for the hacks. Lord knows we’ve them aplenty. The €13 billion-plus overruns Nord Stream in a time of global warming was silly. The commitment to fossils, sillier. Being dependent on Russia, was stupid. Nord Stream II was doubling down on silly and stupid. Enough Carpe Diem. Too...

“March 5, 2022,” Letters from an American, Professor Heather Cox – Richardson Whenever something good is going down, there are nut jobs popping up making demeaning statements about what is occurring. Here is one of Trump’s acolytes taking a shot at Ukraine’s Zelensky’s courage. “Yesterday, Representative Liz Cheney (R-WY) referred to the “Putin wing” of the Republican Party when she shared a video clip of Douglas Macgregor. Macgregor was...