The Angry Bear

Economist David Zetland at The one-handed economist blog offers up another interesting book review detailing life in Ukraine during the nineties. David Zetland, The One Arm Economist’s Book Review: “Death and the Penguin“ This 1996 novel by Andrei Kurkov tells the story of a failing writer who suddenly finds himself with a full-time job writing obituaries. He also has a penguin, Misha, who he “rescues” from Kyiv’s Zoo when they run out of...

Last year, mRNA vaccines won the Nobel Prize in Physiology or Medicine. This morning found RNA once again the recipient of the Nobel Prize in Physiology or Medicine. By the time I finished college, RNA was familiar to me as a family of biopolymers that together specified the manufacture of proteins in cells. Ribosomal RNA made up the platform and enzyme that performed the assembly of amino acids into proteins. Transfer RNAs were the small adapter...

You all down South there can wait 30 more days for additional Federal relief after hurricane Helene has done the worst seen in decades and we decide how much more you will need. “Mike Johnson’s Big Decision Could Impact Helene Relief Efforts,” MSN. Its ok, he is one of them. His $20 billion should tide you over. What an ass . . . Pre-Helene hurricane hitting land, Mike Johnson allocates $20 billion in relief funding. It now appears the Level 4...

Taken from the Bureau of Economic Analysis. Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2024 and Annual Update Partial Report: Real gross domestic product (GDP) is increasing at an annual rate of 3.0 percent as shown in the second quarter of 2024 (table 1). This is according to the “third” estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP...

 – by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. There was a slight fading of several indicators in the short leading and coincident sphere, but overall the positive and improving trend continues. As usual, clicking over and reading will bring you up to the virtual moment as to the state of the economy, and reward me a little bit for organizing and presenting it to you. The Bonddad Blog Weekly Indicators for...

A history lesson of what not to do and yet may still come to pass. October 5th, 2024 by Prof. Heather Cox – Richardson Letters from an American More politics rather than economics. Some of it does fit. The concept is political for an upcoming election. William McKinley is having a moment (which I confess is a sentence I never expected to write).  Republican presidential nominee Donald Trump is elevating McKinley, a representative...

From Prof. Timothy Snyder’s substack “Thinking about…” Shared with permission:“Think about the politicians Trump idolizes, Vladimir Putin in Russia and Viktor Orbán in Hungary. The first undid a democracy through fake emergencies, the second through persistent constitutional abuse. It is not hard to see why Trump likes them. “Now consider the Russian and Hungarian economies. Russia sits on hugely valuable natural resources, and yet is a poor country....

One of the biggest issues in the US is who lives in poverty and how it is determined. People get upset when there are people living on food stamps. Unfortunately, many of us do not know how the government does determine poverty. I am hoping this may explain it somewhat. This report is providing estimates of two measures of poverty: the Official Poverty measure and the more recent Supplemental Poverty Measure (SPM). Used since the 1960s, the...

Some of the worst performing cars ever made looked great on the outside and had serious mechanical, etc. problems. Made in America and were flashy but they could not mechanically perform as well or last. It took a while before many of us growing up started to walk past the flash and bought something more dependable. With Trump selecting Vance he gains the flash . . . however, neither Republican candidate is dependable for US citizens. All flash and...

 – by New Deal democrat Recently I have paid much more attention to the ISM services index. That’s because, since the turn of the Millennium, manufacturing’s share of the economy has contracted to the point where even a significant decline in that index has not translated into an economy-wide recession, as for example in 2015-16.  When we use an economically weighted average of the non-manufacturing index (75%) with the manufacturing index...