The Angry Bear

Commenter RJS and MarketWatch 666 blogger Seasonally adjusted retail sales fell 1.3% in May after retail sales for April were revised 1.4% higher . . . the Advance Retail Sales Report for May (pdf) from the Census Bureau estimated that our seasonally adjusted retail and food services sales totaled $620.2 billion for the month, which was a decrease of 1.3 percent (±0.5%) from April’s revised sales of $628.7 billion, but 28.1 percent (±0.7 percent)...

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Just catching up on my healthcare readings and ran across an article in my email account from MedPage Today. The articles come on a daily basis and I also get them from Modern Healthcare (which limits articles), Health Affairs, NEJM, JAMA, etc. It is more than I could read at any one time unless, I give up more time to read and absorb them. There has been much conversation and arguing on whether there should be vaccinations for children. I have...

Senator Whitehouse posted the clips of his presentation on the Powell Memo at youtube. Ken posted the text of it here. I have known about the Powell memo for a long time. People really do need to come to internalize just what this part of our political history means for our present day social structure and government. People might not be so gullible once they understood what he has been saying for years. Then again, to understand this history...

Writing for the majority on the ACA ruling, Justice Breyer: “We do not reach these questions of the Act’s validity, Texas and the other plaintiffs in this suit lack the standing necessary to raise them.” The lack of standing comes from: “The states having brought the suit could not show that they will suffer any injury from the fact that some form of the mandate is still in effect, and threw out the lawsuit as a result.” In the majority...

Why Are Infrastructure Costs So High In The US? Sorry, but anybody wanting some simple answer on this one, especially an ideologically neat one, sorry, there is not one, Indeed, on this important issue, there is a large problem, but not remotely a clear answer regarding why there is this large and important problem. For numbers on this problem, I draw on a Washington Post column yesterday by Catherine Rampell. Here are some of the crucial data....

Your money or your life. Highway robbery has been around since. On the high seas, was known as piracy. Been writ that pirates didn’t always even offer the choice. All made for generations of good bedtime reading for youth. And, for mock sword, and bow and arrow, fights. And, really bad movies. Thanks, Howard Pyle, Robert Louis Stevenson, …, and Walt Disney. No thanks, Errol Flynn. These days, it’s neither sword nor bow and arrows, musket nor...

Industrial production on the verge of exceeding pre-pandemic level Industrial production is the King of Coincident Indicators. It is the single datum that most frequently coincides with the NBER determination of the beginning and end of recessions. In May, total production increased +0.8%. Manufacturing production increased +0.9%. Both current readings are the highest since the onset of the pandemic: Figure 1 Total production is only 1.4%...

by Joseph Joyce Measures of Global Income The difference between the income generated by the domestic production of goods and services and the income received by the residents of a country is the basis of the distinction between Gross Domestic Product (GDP) and Gross National Income (GNI). The latter measure includes net foreign-sourced income, the income domestic residents receive from foreign sources for providing productive resources (such...

May Retail Sales Fell 1.3% After April Sales Were Revised 1.4% Higher Seasonally adjusted retail sales fell 1.3% in May after retail sales for April were revised 1.4% higher . . . the Advance Retail Sales Report for May (pdf) from the Census Bureau estimated that our seasonally adjusted retail and food services sales totaled $620.2 billion for the month, which was a decrease of 1.3 percent (±0.5%) from April’s revised sales of $628.7 billion,...