The Angry Bear

An Increasing Anomaly In The US Balance Of Payments  On Econbrowser Menzie Chinn has posted about an increase in the scale of US international net indebtedenss. Since the late 1980s the US has been a net debtor internationally, borrowing more from abroad then we are lending and investing there.  The increase in this net indebtedness has noticeably accelerated since our current POTUS took office, and especially this year.  The size of that net...

Steve Hutkins on Mail Delays. At the end of this post, Steve issues a call to action. Perhaps, You may be able to help? Today I (Steve) filed a motion with the Postal Regulatory Commission (PRC) asking it to ask the Postal Service to provide on-time delivery reports for the past several weeks. These reports would offer more transparency into postal operations and show just how much the mail has been slowing down since the Postmaster General implemented...

[embedded content]H/T: When I woke up.. blog. Everything you don’t know that you don’t know.. Former Deputy Postmaster General Ron Stroman was on MSNBC with Nicolle Wallace. His take on the Senate hearing yesterday, the delays going on at the Postal Service, and the risks for voting by mail is fantastic. Stroman believes that there is a ‘significant question’ whether delays in mail are intentional, and he expresses concerns over the disenfranchisement of...

The customer goes online and chooses a face mask from those listed on the USPS Web Page and places an online order. Their order goes direct to the factory making the mask of choice where it is filled within minutes or less and dropped in the on-site USPS bin that is picked up several times a day. The USPS then delivers the order to the customer. The USPS could enhance its revenue stream by charging a very small fee for advertising on its Web Page...

Here you go! Save the Post Office is edited and administered by Steve Hutkins, a literature professor who teaches “place studies” at the Gallatin School of New York University. Prof. Hutkins (Steve) is the author of this commentary. (Angry Bear Blog has had a long relationship with both authors Steve Hutkins and Mark Jamison both of whom author the “Save The Post Office Blog.”) Everyone knows the mailing has been slowing down. News reports are filled with...

Real personal income, spending, and consumer sentiment for July July personal income and spending were reported this morning. Since real personal income drives one important election model, I have been waiting to see if July would reflect the end of the emergency Congressional assistance. It didn’t. Real personal income rose less than 0.1% in July. While it is down by -6% from April, it is up a huge 7.1% from July 2019. Real disposable and Per Capita...

by New Deal democrat Weekly indicators for August 24 – 28 at Seeking Alpha  My Weekly Indicators post is up at Seeking Alpha. The economy as a whole is being driven by lower interest rates, unprecedented Fed supply of new money, stock market gains, and – through July – the Congressional emergency stimulus and unemployment benefits. This is still showing up in all indicator timeframes. It took a few weeks for the effects of the pandemic lockdowns to show...

Jobless claims slowly continue to get “less worse,” while longer term deadweight loss builds The good news in this morning’s jobless claims report is that the trend of “less worse” news continues. The bad news is that the improvement has slowed to a snail’s pace, at levels worse than the worst levels of the Great Recession. On a non-seasonally adjusted basis, new jobless claims declined by 68,038 to 889,549, a new pandemic low. After seasonal adjustment...

More evidence that housing has roared back This morning we got the final important July housing reports: new home sales and house prices. New single home sales are very volatile and heavily revised, so it is always wise to take the initial report with a grain of salt. On the other hand, it is the most leading of all the reports. With that caveat, this morning’s report of 901,000 sales annualized is the highest reading since December 2006! It is also in...