The Angry Bear

 – by New Deal democrat Last week I pointed out that the YoY increases in initial and continuing jobless claims appeared to be all about Texas in the wake of Beryl. This week there was good news even with some continued hurricane Beryl effects in Texas. Initial claims declined -7,000 to 227,000 for the week, while the 4-week average declined -4,500 to 236,500. Continuing claims with the typical one-week delay declined -7,000 to 1.864 million:...

Apparently, JD Vance thinks so.*Not to go all anecdotal here, but in 1981, I bought my first car, a brand-new Mazda GLC hatchback, for $5770. In 2024 dollars, that’s $20,000. It had no radio, no air conditioning and no passenger-side sun visor. My most recent car purchase was a 2013 Honda Fit four-door, which I bought for $15,000. It has a radio and CD player, cruise control, air conditioning, front and side-door air bags and both driver- and...

by Heather Cox Richardson Letters from an American AB: More dialogue on the less than 3% increase in inflation. The July report for consumer prices from the Bureau of Labor Statistics, which came out today, showed that prices rose less than 3% in the previous twelve months. Core inflation has fallen to its lowest rate since April 2021. For well over a year, wages have grown faster than inflation. President Joe Biden cheered the news but...

AB: Run down on the Trump – Musk Get Together by Bill Kristol I’m grateful to Andrew for listening to Donald Trump and Elon Musk last night and sparing me that unpleasantness. But I did listen to some of the clips this morning. Here’s my take: Trump’s awful. This is, I acknowledge, not breaking news. Trump’s awfulness has been so obvious for so long, and we now take it so much for granted, that it seems silly or gauche to point it...

Workers are getting $3/hour. Usually, we tip well beyond 20% of the bill. Maybe it is just because we struggled at times. Some of AZ’s legislators should be working for $3/hour and getting tips if they do a good job in the legislature. It does not appear they are representing people. The last go around I sat through was a House Committee meeting on HOAs which in Arizona are big business. One Rep did not like it when I said during the meeting his...

Consumer Price Index – July 2024 (bls.gov) The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, after declining 0.1 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the All items index increased 2.9 percent before seasonal adjustment. The index for shelter rose 0.4 percent in July, accounting for nearly 90 percent of the monthly increase in...

– by New Deal democrat The CPI for July continued all of the trends I have been writing about for the past year or more:  – Headline and core CPI continue to slowly decelerate.   – energy inflation is non-existent  – shelter inflation remains very elevated but continues to declerate, following house prices.  – all prices except for shelter coming in near or below the Fed’s 2% target  – there are a few other problem children that...

About ten years ago, we had 22 solar panels installed on the roof of our St. Louis house. Half the cost was paid by Ameren, the electric utility, and we got a 30% tax rebate on the balance. But even with reversible metering, we hadn’t made back our cost when we sold the house two years ago. At that time, ours was among only about a half-dozen homes in our neighborhood with rooftop solar. Here in Rumford RI, there are at least twice as many.California...

 – by New Deal democrat In the paradigm popularized by Prof. Edward Leamer 20 years ago, motor vehicle sales are the 2nd domino to fall, after housing, in the procession of sectors that turn down prior to recessions. I haven’t updated this in a while, so let’s take a look. As an initial matter, the cycle in this sector was particularly hard hit by supply chain kinks during the pandemic, as electronic parts in particular were not produced at...

There should not be political issues with or in healthcare. Healthcare is a social responsibility to be brought to all people in this nation without regard to citizenship. Yet we still find many citizens resistant to healthcare availability. And why should there not be? If they are sick, why not cure them so as to prevent the spread? Healthcare is not a privilege; it is a right for every person who walks this nations grounds. The following to...