The Angry Bear

Commenter Blogger RJS Summary: Natural gas supplies above average for first time since April. Strategic Petroleum Reserve at a 19-year low. Total oil & products supplies near a 7-year low. Total oil supply falls by most in 25 weeks. Gasoline supplies jump most in 20 months. Distillate’s demand falls by most in 5 years. DUC wells in four basins are lowest on record. DUC backlog at 5.5 months is below pre-pandemic norm. DUC well report for...

I saw this story on PPP Loans at Crooks and Liars (Chris capper Liebenthal). It was a “wow” moment. “The Capitol Rioters Had Their Big PPP Loans Forgiven by the Government” Daily Dot, Eric Leval “The Paycheck Protection Program (PPP), promised to cover the cost of employee payroll of small businesses, at a time when the entire nation was shutting down and unable to make ends meet.   Amazingly, some of the people who received the money...

by New Deal democrat Weekly Indicators for December 20 – 24 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Surprisingly, so far the Omicron variant has had no deleterious effect on any of the data, and in particular, on restaurant reservations. As usual, clicking over and reading will bring you up to the economic moment, and bring me a little late Christmas cash in my stocking. Also – Programming Note: This week...

November Durable Goods: New Orders up 2.5%, Shipments Up 0.7%, Inventories Up 0.6%, MarketWatch 666, RJS The Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders for November (pdf) from the Census Bureau reported that the value of the widely watched new orders for manufactured durable goods increased by $6.5 billion or 2.5 percent to $268.3 billion in November, the 6th increase in seven months, after October’s new...

Income, spending, layoffs, and new home sales all point to a continuing expansion in 2022 We got our last batch of data before Christmas this morning. Almost all of the news was positive. I will be very brief.In the “coincident indicators” department, real personal income declined -0.2%, while real personal consumption expenditures increased less than 0.1%, although both remain well above their pre-pandemic levels:  Comparing real personal...

Professor Joel Eissenberg, Biochemistry & Molecular Biology While vaccination reduces the probability of new variants; sadly, there are selfish citizens among us who refuse to be vaccinated for COVID-19. Their belief in a decision only affecting themselves. This belief is false. Failing to get vaccinated increases the chances of infecting others and of hosting a more dangerous variant. The latest data I’ve seen shows that even though...

It’s A Wonderful Life: Faux Populism  Somewhere I never saw a full version of this classic, Its a Wonderful Life, but here it is on Christmas Eve, an official Christmas classic. I was always suspicious of it, from all I had heard, but it looks less worth than I had heard. I mean, really, local bank owner gets into real estate problems? And the well-intentioned owner is somehow some great hero? He is offered total control of local monopolies. Heck,...

Voters in West Virginia Support the Build Back Better Agenda, Senior Analyst, Ethan Winter, Data for Progress, August 27, 2021 From August 20, to August 27; Data for Progress organization “conducted a survey of 348 likely voters in West Virginia” to discover whether there was voter support for Biden’s Build Back Better bill. As you know, Senator Joe Manchin has claimed he has to go back to West Virginia and explain it to its voters....

Photo by Ian Keefe on UnsplashFrank Cross: “It’s Christmas Eve! It’s . . . it’s the one night of the year when we all act a little nicer, we . . . we . . . we smile a little easier, we . . . w-w-we . . . we . . . we cheer a little more. For a couple of hours out of the whole year, we are the people that we always hoped we would be!” Bill Murray “Scrooged“ Dan and Bill ...