The Angry Bear

Agri-Economist and farmer Michael Smith talking inflationary impacting crops and farmers. Higher inflation rates “will likely remain so in the coming months,” Federal Reserve Chairman Jerome Powell acknowledged today in testimony before the Senate Banking Committee. Powell has been in meeting this week discussing the persistent inflation going into next year.  Powell noted the effects of inflation on the economy “have been larger and...

Blogger RJS,@ Market Watch 666, “August Durable Goods: New Orders Up 1.8%, Shipments Down 0.5%, Inventories Up 0.8%“ The Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders for August (pdf) from the Census Bureau reported that the value of the widely watched new orders for manufactured durable goods increased by $4.6 billion or 1.8 percent to $263.5 billion in August, after rising by a revised 0.5% in July….July’s...

Various articles which may interest Angry Bear readers. Supply chain disruptions may last into 2023 & more (beckersasc.com) Seven Supply Chain by Beckers ASC Review. For example: “Many companies that pivoted their business plans early in the pandemic to respond to shortages of medical supplies are now facing severe financial consequences.” I Got Moderna. Can I Boost With Pfizer? | MedPage Today With FDA authorizing boosters for...

In a recent post I suggested that distrust in the government’s handling of covid and in the safety and efficacy of vaccines is mainly the result of a deliberate messaging campaign by conservative media, libertarian propaganda organizations, and Republican politicians to gain political or ideological advantage by fostering distrust.  To illustrate this, I want to examine an essay by Jeffrey Tucker, the founder of the newly created Brownstone...

The producer portion of the economy continues to do well First, a little blogging note. This week is light on data. House prices tomorrow, jobless claims Thursday, then a bunch of month end/beginning data on Friday. In other words, don’t be surprised if I take a day off. This morning the report on durable goods orders for August was released. Manufacturing is a leading sector of the economy, and new orders both for manufacturing and...

Goodbye Gene Weingarten  I am not sure how many readers here know who Gene Weingarten is.  He is a humorist who has authored a column for the last 21 years that has appeared each Sunday at the end of the Sunday Washington Post magazine.  I am not sure where he was out letting before then, although I think he had some fame, but not huge amounts.  Anyway, without warning in today’s column, he announced “The Short Goodbye,” his final column, mostly...

Matt Yglesias has published an interesting essay at his substack by Simon Bazelon and David Shor arguing that Democrats should introduce stricter means testing into the Child Tax Credit. Their key points are as follows: The current CTC design already has means-testing for very high incomes, which means that the administrative burdens associated with means-testing (making low-income people file tax returns, etc.) are already being...

Addendum to US crude supplies at 35 month low; Total oil and product supplies at 6 1/2 year low – Angry Bear (angrybearblog.com) by RJS Authors of Angry Bear Posts and I converse from time to time. We talk about what they write, what its content implies, and what they are thinking. This note came from RJS at Marketwatch 666, etc. Keep it mind as oil production has not returned to prior levels as of yet. The US has been drawing down its underground...

People really, truly hate being played for suckers.  Rick Hasen: “You could look at 2020 as the nadir of American democratic processes, or you could look at it as a dress rehearsal,” says Hasen, a professor of law at UC Irvine.To understand this fragile moment for American democracy, you could take a 30,000-foot view of a nation at the doorstep of a constitutional crisis, as Robert Kagan recently did for the Washington Post. Or you could simply...