The Angry Bear

Cartoonist Rob Rogers was fired from the Pittsburgh Post-Gazette for refusing to do cartoons extolling the virtues and accomplishments of Trump. According to The Association of American Cartoonists; “Rob Rogers is one of the best in the country and his cartoons have been a wildly popular feature of the Post-Gazette. Readers looked forward each morning to opening their papers to see Rogers’ latest pointed commentary.” Things changed for Rob when the...

Children make the bestest hostages Criticisms of Trump in the business press are especially instructive, because they have no obvious partisan motivation. So Josh Barro’s article at Business Insider this morning, castigating his “bully-and-threaten approach to dealmaking,” is particularly noteworthy. He writes: Donald Trump has a negotiating tactic he really likes: Threaten to do something someone else will really hate, and then offer to stop if they...

Does Greg Mankiw Know the History of U.S. Trade Policy? Greg offers us a nice speech by Saint Reagan. While Ronald Reagan preached free trade, Jeffrey Frankel notes that his actual record was rather protectionist. The discussion is an excellent account of how Republicans have been protectionist since 1854. But the really weird thing in Reagan’s discussion was how he claimed the U.S. has been a free trade nation since 1776. Of course Congress passed...

May industrial production: meh Industrial production is the ultimate coincident indicator. It is almost invariably the number that determines economic peaks and troughs. In May it declined -0.1%. While that obviously isn’t a positive, it does nothing to suggest any sort of change of trend: and is in line with any number of similar monthly numbers during the expansion. In this second graph I’ve broken it down into manufacturing (blue, left scale)...

May retail sales come in strong Real retail sales for May came in strong, up +0.6% just in the month: As the graph shows, this is on trend for the entirety of this expansion, and is also a new high, surpassing that of last winter. Per capita real retail sales also made a new high, an indicator that the expansion is likely to continue at least one more year: Finally, the YoY% growth in real retail sales has also been increasing:...

Chewing over the message of online job postings Here’s an interesting graph I came across yesterday. It’s from the Conference Board. What it does is track the number of job postings online, and breaks them down between first postings and repeat postings: Let me say first of all that it is of limited use. The data only goes back to 2005, so there isn’t much history — heck, online job postings didn’t even *exist* until the end of the 1990s! Further,...

Is Strengthening Labor Good for Development? Servaas Storm, who’s always worth reading, has posted on the INET website a summary of a new working paper he coauthored.  This issue goes way back with me—I first started looking into and writing about the labor rights/wage/trade/development nexus back in the 1980s.  Working on my own, I had a lot of false starts, and I’m happy to see others digging much more deeply today. I won’t comment on the substance of...

AG Jeffrey B. Sessions: “I would cite you to the Apostle Paul and his clear and wise command in Romans 13, to obey the laws of the government because God has ordained them for the purpose of order,” he said. “Orderly and lawful processes are good in themselves and protect the weak and lawful.” I would quote back to the hypocrite Sessions. Leviticus 19:33-34: 33 “When a foreigner resides among you in your land, do not mistreat them. 34 The foreigner...

Healthcare Insurers Lose in Court Over Risk Corridor Funds I have written a couple of times about Sessions, Upton, Kingston, and Republicans sabotaging the ACA Risk Corridor Program with the insertion of Section 227 in the CRomnibus Bill signed in December 2014. Not only did Senator Sessions, Representative Upton (MI), and Representative Kingston (CO) block the funding of the Risk Corridor Program; with the insertion of Section 227 by Representative...