The Angry Bear

The battle to save democracy continues. White man commits intentional voter fraud: A Marple Township man who illegally registered his dead mother as a Republican and cast a vote on her behalf in the 2020 presidential election has been sentenced to five years of probation, Delaware County prosecutors said.Bruce Bartman, 70, pleaded guilty to felony counts of perjury and unlawful voting last December after investigators discovered he had...

by New Deal democrat Weekly Indicators for April 26 – 30 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Right now a lot of YoY readings are not very helpful, because the comparisons are against the worst of the pandemic. So I have been adding some comparisons with 2019 as well. The sum total of the outcome is that, while a (perhaps short lived) economic Boom is underway, there are no persuasive signs of overheating at...

The American Economic Review is publishing an article by Samuel Norris, Matthew Pecenco, and Jeffrey Weaver that suggests parental incarceration has benefits for children: Every year, millions of Americans experience the incarceration of a family member. Using 30 years of administrative data from Ohio and exploiting differing incarceration propensities of randomly assigned judges, this paper provides the first quasi-experimental estimates of the...

So Much For May Day  Today is May Day. An ancient point of the Gaelic calendar marking spring, it was long marked by pagan fertility celebrations and rites, dancing around May poles and the like, with many variations on this in different countries. The day became associated with the worker’s movement in 1886 when in Chicago a movement for the 8-hour work day involved many demonstrations and strikes and ultimately a riot in Haymarket Square in...

1st quarter GDP; March incomes & outlays, and March durable goods Marketwatch 666, Commenter R.J.S. Our economy grew at a 6.4% rate in the 1st quarter, quite a bit stronger than during the fourth quarter, as stimulus supported growth in personal consumption of goods and increased federal government consumption outlays more than offset weaker private investment, shrinking inventories, falling exports, and the negative impact of rising...

Recall Senators McConnell’s and Graham’s strong opposition to the first COVID relief package? Said it was because they feared it might reduce the incentive of workers in their states to work for low wages; that’s really low wages as in less than a living wages. Mitch and Lindsey, and most of the present day republican party, are miners of poverty. Miners as in get every last possible cent possible out of the working class and personally wheelbarrow...

The executive increases the return to shareholders, in return they increase the executive(s) salaries; and so it goes. The Trump tax cuts were used by corporate executives to buy back shares; increasing the stock value, sending more along to the shareholders who then reward the executive(s) with bigger salaries. What’s missing? The workers. Time was when industrial work forces were huge and unions were strong; when the unions had lots of clout with...

Jobless claims: pandemic progress continues [Note: I’ll comment on the Q1 GDP report later today or tomorrow.] New jobless claims will almost certainly continue to be the most important weekly economic data for the next 3 or 4 months, as increasing numbers of vaccinated people and outdoor activities lead to an abatement of the pandemic. Seven weeks ago I set a few objective targets for new claims: to be under 500,000 by Memorial Day, and below...

by Joseph Joyce The Next “Lost Decade” The 1980s were a “lost decade” of economic growth for those developing countries in Latin America that were enveloped in a debt crisis. Many now fear that we are on the verge of another debt crisis in the wake of borrowing by governments to support their economies during the pandemic. A concerted response will be needed to avoid it. Countries such as Mexico and Brazil had borrowed during the 1970s to...