The Angry Bear

This tidbit was reported in an October 13, 1989 Los Angeles Times. In a June 21 (1989) legal opinion requested by Atty. Gen. Dick Thornburgh, Assistant Atty. Gen. William P. Barr reversed a ruling dating back to the Carter Administration denying the FBI authority to take unilateral action overseas in what was then referred to as the President’s snatch authority. The earlier Carter ruling had also warned federal agents could face kidnaping charges abroad...

In this post I will use revealed preference and assume people are rational. Sorry. I’m an economist and I can’t entirely resist. I will argue that our joy and suffering is bounded, that we can’t be infinitely happy or infinitely miserable. The first argument is standard, the second is something Peter Mollgaard thought of the instant I explained the first. Both discussions are typically limited (as economists tend to be) to selfish swinish agents who care...

by New Deal democrat The three best arguments against an economic slowdown I still think I’m right that there will be a worsening economic slowdown that shows up by about summertime and continues towards the end of the year.But there is one long leading indicator and two important short leading indicators that are going the other way. Rather than ignore them, I accept them and explain why I don’t think they negate my forecast. This article is up at...

by New Deal democrat The economy in 2019: a look at the “big picture” Although I have a bunch of nerdy forecasting models, I view my primary mission as trying to explain what is going on in the economy for ordinary middle and working class American workers and consumers.I’ve been meaning to do a “30,000 foot perspective” on the economy for awhile, to draw together all the information into a Big Picture narrative. Well, I finally got around to it, and it...

Is Stephen Moore a Gold Bug? A lot of the criticisms of putting the twin village idiots known as Herman Cain and Stephen Moore on the FED assert that they are gold bugs. Kate Riga watched CNN when Erin Burnett interviewed Stephen Moore on this allegation: Stephen Moore tries to flip-flop on the gold standard — but Erin Burnett is prepared and armed with a montage of his past statements Watch and enjoy! Now Moore did say he would prefer targeting an...

Economics, the Realm of Money and the Significance of GDP Growth, with an Application to Child Labor What’s economics?  There are two answers.  One is it’s the sphere of human activity encompassing the production and distribution of goods and services, which has sometimes been referred to as provisioning.  This is quite a lot but not everything.  It includes meditation classes but not meditation, making and selling binoculars but not bird-watching,...

February JOLTS: a mirror of the poor jobs report The JOLTS report on labor is noteworthy and helpful because it breaks down the jobs market into a more granular look at hiring, firing, and voluntary quits. Its drawback is that the data only goes back less than 20 years, so from the point of view of looking at the economic cycle, it has to be taken with a large dose of salt. With that disclaimer out of the way, Tuesday’s JOLTS report for February generally...

by New Deal democrat Weekly Indicators for April 8 – 12 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Lower interest rates have to some extent been offset by weaker real money supply. In any event, they haven’t fed through into other, shorter term indicators just yet. As always, clicking over and reading should bring you up to date on the economy, and reward me a little for my efforts. ...

A President Falsely Charging ‘Treason.’ The Constitution: “Treason against the United States, shall consist only in levying war against them, or in adhering to their enemies, giving them aid and comfort.” Article III; Section 3: Treason against the United States, shall consist only in levying war against them, or in adhering to their enemies, giving them aid and comfort. No person shall be convicted of treason unless on the testimony of two witnesses to...