The Angry Bear

December JOLTS report: while hiring has weakened, firing (and quitting) continue to show a strong labor market  – by New Deal democrat Yesterday’s JOLTS report for December showed a labor market that, while decelerating, remains relatively strong. Let me start with layoffs and discharges, which increased by 85,000 to 1.616 million (blue in the graph below). This is nevertheless about average for the past year, and as usual mirrors the...

The same as David, I have heard good things about this book. I am also old enough to remember some of the news of the turmoil in Zimbabwe. Book Review: When a Crocodile Eats the Sun, The one-handed economist, David Zetland A white woman in South Africa suggested that I read this 2006 book by Peter Godwin, and I am glad that she did. I mention the color of her skin because skin matters in this memoir of how Zimbabwe fell apart in the...

I am attempting to present a simple way to portray the costs of healthcare in the US. Using pie charts, a bar chart, and a graph gets the measures of cost across and at the same time presents different discussion points. Merrill Goozner presents the same data as did Peterson and draws a different conclusion. Healthcare costs do not appear to be outstripping economic growth. The issue still remains that we can manage our healthcare costs in a more...

(Not) Thinking About Money, Wealth Economics, Steve Roth (substack.com) It’s tempting to abolish the word entirely. Reprint from Wealth Economics. J.W. Mason offers a bang-up post on economists’ thinking about “money,” how economists have thought and talked about it over decades and centuries. There’s even a class syllabus and reading list from his class for his John Jay MA econ students. It’s a very deep dive. (“Thirteen Ways of Looking at...

Repeat home sale prices continue rebound; rents continue decline  – by New Deal democrat Since the Fed started raising interest rates almost two years ago, homebuilding has shifted away from single family houses to condos and apartments, the construction of which has made repeated all-time highs. This has become reflected in house price vs. apartment rental indices. Starting with apartment rents, according to the Apartment List National...

Abortion is a tough topic to write about as both sides get a bit mean. The one side forbidding it more so then the supporters of reproductive choice. Maybe it has to do with the thought or thinking behind it. Women decide and the males shut up, except for the orange one. Abortion in the news, GoozNews, Merrill Goozner There’s only one health care issue that will be on the ballot this November, and that’s abortion. Health care pundits like...

In Michigan, we had a feeder about 20 feet from the deck. We would get different species . Flickers, Downey Woodpeckers, Chickadees, Nut Hatches, Wrens, the common sparrows, etc. The Nut Hatches and Chickadees were the acrobats and would hang upside down. When the feeder would empty out the Chickadees would hang around on the feeder hanger and watch me take the feeder down. I would fill it, rehang it, and they would still be looking down or...

Haley  Nikki Haley is staying in the race for the Republican nomination, at least for now.    Why?  If she only cares about becoming president, this year could be her best shot even with Trump way ahead of her in the polls.  Trump may be convicted or become incapacitated, and she could win the nomination as the last woman standing.  It is far from clear her political brand will be in better shape with Republican primary voters 4 years from...

Both production and transportation are down from 2022 peaks; why wasn’t that enough to cause a recession?  – by New Deal democrat While I have written about how the Index of Leading Indicators failed last year, as the loosening of and disinflation in supply chains overwhelmed the effects of Fed tightening, it wasn’t as if Fed tightening had no effect. In fact in the typical places where we would first expect to find those effects – namely, in...

Steve Roth  (at Asymptosis) I just had occasion, in replying to a correspondent, to reiterate much of the thinking in my recent MMT Conference presentation. I thought it might be a useful and comprehensible form for some readers, so I’m reproducing it here. I’ve also explained this at somewhat painful length here. Correct me if I am wrong but what you are saying extends MMT into the private sector. The govt boosts balance sheets with...