The Angry Bear

Real personal spending declines in December, while income rises; not quite enough to start a “double-dip” recession This morning’s report on personal income and spending for December reversed the pattern we have seen all during the second half of 2020. After rebounding strongly for 6 months, real personal spending (blue in the graph below) declined for the month by -0.2%, and is 3.6% below its February peak. Meanwhile real personal income (red),...

Real personal spending declines in December, while income rises; not quite enough to start a “double-dip” recession This morning’s report on personal income and spending for December reversed the pattern we have seen all during the second half of 2020. After rebounding strongly for 6 months, real personal spending (blue in the graph below) declined for the month by -0.2%, and is 3.6% below its February peak. Meanwhile real personal income (red),...

First, I want to discuss the evidence on effectiveness of the first dose of the BioNTech Pfizer Covid 19 vaccine. The data from few person – weeks of the phase III trial suggested that one dose was highly effective after 10 days. This is based on 4 of roughly 40 cases in vaccinated participants. Much larger samples from the not randomized controlled just by the general population experience in Israel suggest lower effectiveness. I think the...

First, I want to discuss the evidence on effectiveness of the first dose of the BioNTech Pfizer Covid 19 vaccine. The data from few person – weeks of the phase III trial suggested that one dose was highly effective after 10 days. This is based on 4 of roughly 40 cases in vaccinated participants. Much larger samples from the not randomized controlled just by the general population experience in Israel suggest lower effectiveness. I think the...

Read: When does democracy morph into mobocracy?Read: A critique of gentrification that misunderstands the commons and property rightsRead: Most economies are in a “K-shaped” recovery in which the rich get richer and the poor poorer and more on how everyone is better off on average but the poor are not average.Interesting stuff ...

Read: When does democracy morph into mobocracy?Read: A critique of gentrification that misunderstands the commons and property rightsRead: Most economies are in a “K-shaped” recovery in which the rich get richer and the poor poorer and more on how everyone is better off on average but the poor are not average.Interesting stuff ...

The reliably brilliant Catharine Rampell argues against giving $1400 to quite so many people. She notes The Democratic-controlled House passed legislation in December to expand stimulus payments to $2,000. This was marketed as aid to the poor and middle class, but the bill would have given some money to 94 percent of households — including those making over $300,000. President Biden, who supports more direct payments, said this week that he is...

The reliably brilliant Catharine Rampell argues against giving $1400 to quite so many people. She notes The Democratic-controlled House passed legislation in December to expand stimulus payments to $2,000. This was marketed as aid to the poor and middle class, but the bill would have given some money to 94 percent of households — including those making over $300,000. President Biden, who supports more direct payments, said this week that he is...