The Angry Bear

 by New Deal democrat Weekly Indicators for March 15 – 19 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Both the nowcast and the short term forecast continue to be red hot. But interest rates continue to batter the long term forecast. As usual, clicking over and reading will bring you up to the virtual moment, and reward me a tiny bit for the efforts I put in. ...

Larry Summer is still criticizing the American Recovery Plan.  Summers: In his latest attack on the recent rush of stimulus, Summers told David Westin on Bloomberg Television’s “Wall Street Week” that “what was kindling, is now igniting” given the recovery from Covid will stoke demand pressure at the same time as fiscal policy has been aggressively eased and the Federal Reserve has “stuck to its guns” in committing to loose monetary policy.“These...

Rescued from Oblivion! I was sure that the English translation of Friedrich Engels’s Preface to volume 2 of Capital had used the expression “rescued from oblivion” in referring to the 1821 pamphlet, The Source and Remedy of the National Difficulties. But the only translations I could find didn’t agree: “In this pamphlet, the importance of which should have been recognized on account of the terms surplus produce or capital, and which Marx saved...

Disappointing weekly increase in new jobless claims, but monthly trend improves; expect a 200,000+ number of new jobs in next Employment Report  – by New Deal democrat New jobless claims are likely to the most important weekly economic data for the next 3 to 6 months. They are going to tell us whether my suspicion is correct that, as a critical mass of those vaccinated is reached, there will be a veritable surge in renewed commercial and...

I posted a YouTube of Warnock’s speech along with snippets of it.There are other valuable portions of it worth putting into print if I could type that fast. Alas, this four fingered typist is not so fast or adroit. The memory works for a few sentences. It is a good speech! Using the Big Lie of Voter Fraud as a pretext to Voter Suppression “The People Of Georgia sent their first African American Senator and first Jewish Senator my brother John...

Coronavirus dashboard for March 19: yes, vaccinations are working The three big Western standouts for vaccination progress have been Israel, the UK, and the US, respectively. And in all three, there have been dramatic declines in both cases and deaths. Let’s look at them in order. First, Israel: 56% of all Israelis have had at least one dose of the Pfizer vaccine. 50% have been fully vaccinated. Cases have declined 81%. Deaths have...

Big (weather related) declines in February production and sales This morning (Tuesday) we got the most important single metrics for both the consumer and producer side of the economy for February, respectively, retail sales and industrial production. Both were big misses, one explicitly and the other likely due to the big freeze in Texas and neighboring States.Let’s turn to production first. Total industrial production declined by -2.2% in...

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We are in the process of making changes to the comment section of Angry Bear to tackle the issue of comments disappearing or being delayed in posting. We need feedback from readers on their experience Friday and over the weekend: e-mail Dan at [email protected] or Bill at [email protected]. ...

Barkley Rosser, Econospeak, The Woman Behind The New Deal, March 16, 2021 I was long aware that Frances Perkins (1880-1965) was the first woman to serve as a cabinet secretary, namely Secretary of Labor for Franklin D. Roosevelt, in which position she was one of the two people to serve in their position all the way through his presidency, the other being Interior Secretary Harold Ickes. Somehow I never heard that much about her, but an article in...