The Angry Bear

This particular post is coming out of Angry Bear’s comment section. Mike Smith is the author. Mike grows various food items on his farm and has a hands-on knowledge of what is occurring in the beef industry today. What Mike is touching upon today is the small farmer industry and how the farmers are being squeezed out in bringing beef to market. The wholesalers and larger food chains such as Walmart can manipulate pricing to benefit themselves at...

New jobless claims continue to decline at rate of 100,000 per month, while continued claims stall at elevated level New jobless claims continue to be the most important weekly economic datapoint, as increasing numbers of vaccinated people and outdoor activities have led to an abatement of the pandemic – both new infections and deaths are near their lowest points in a year.  We have hit my objective for new claims to be under 500,000 by...

by Joseph Joyce International Factor Income in 2020 The sharp contraction in economic activity in the first half of 2020 due to the COVID pandemic was followed by a slow and uneven recovery in the second half of the year. The decline slowed global trade and capital flows, although not as much as initially expected. The economc slowdown also lowered investment income and remittances, the two main forms of international factor income...

Larry Summers Doubles Down On His Inflation Prediction  But somehow becomes vaguer about exactly how this is going to happen and show up, but he wants the Fed to stop it in its track, goshdarnit.  This is in a column appearing in the Washington Post, May 25, “The inflation risk is real.” Well, he does start out by saying that the economic recovery from the pandemic is a good thing, as is of course the the receeding of the pandemic itself, with...

I would not want you guys to fall behind in the conspiracy readings. I was reading this stuff April 2020. The news caught up in 2021. “Dr. Fauci Backed Controversial Wuhan Lab with U.S. Dollars for Risky Coronavirus Research,” Newsweek “Under Political Pressure, NIH Blacklists Wuhan Virology Lab,” American Institute of Physics “Why US outsourced bat virus research to Wuhan,” Asia Times “Why The U.S. Government Stopped Funding A Research...

Josh Marshall nails it (paywalled, but here’s part of his argument): Published reports suggest – and it is no surprise that this is the case – that the DOJ investigations are not looking deeply into the causes of the January 6th insurrection, causes which are inherently political and tied to numerous public officials and electoral politics. They’re going to look at the specific people who broke into the Capitol. They’re going to look at organized...

Eighteen million uninsured Americans are eligible for free or subsidized health insurance. Kaiser Family Foundation estimates, 12.5 million of the uninsured are eligible for free coverage which includes 3.4 million for whom “free” means high-deductible bronze coverage. More than likely, half of the uninsured could get “platinum-equivalent” silver healthcare insurance coverage for a premium amounting to no more than 2% of income). Yet the...

Commenter and blogger RJS at Market Watch 666 Just two widely watched reports were released this week: the April report on New Residential Construction from the Census Bureau and the Existing Home Sales Report for April from the National Association of Realtors…in addition to those, the Bureau of Labor Statistics released the Regional and State Employment and Unemployment Summary for April this week, which breaks down the two employment surveys...

Coronavirus dashboard for May 24: 3 weeks to 0 new cases? No, that won’t happen. But, even so, that is the current trajectory. Let’s start with the overview:Total *confirmed* cases: 33,117,737Total deaths: 589,893 Note that there are many more cases that we don’t know about because the people were never tested. Since about half of cases appear to be only mildly or non-symptomatic, an additional 10% of the population having been infected seems...