The Angry Bear

The Detroit News story, January 2018 “What MSU Knew” details when the abuse started. For twenty years, the female athletes who engaged in the Michigan State Gymnastics program complained of Dr. Larry Nassar to university representatives. MSU President Lou Anna Simon was amongst those who were informed and had known of the 2014 Title IX complaint and police report filed against an unnamed physician. According to university records and victim’s accounts,...

Intercompany Guarantee Fees and Trump’s Lido City Loan Matthew Yglesias notes: Trump stands to gain from an Indonesian project that got a $500 million loan right before he flip-flopped on ZTE… But it also happened the same week a Chinese state-owned company came through with hundreds of millions of dollars in loans, some of which will go to facilitate the construction of Trump-branded properties in Indonesia. Does anyone know what the interest rate will...

R.I.P. bond bull market, 1981-2016 On September 30, 1981, the 10 year US Treasury bond yielded 15.84%. It has not been that high since.  On July 8, 2016, it fetched only 1.37%.  It is unlikely to see that low rate again for a very, very long time.  Those two dates likely mark the birth and death dates for perhaps the biggest bond bull market in history. Here (from CNBC) is the relevant graph: Today the 10 year closed at 3.067%, having hit an...

ZTE and the Iran Nuclear Deal The whiplash that many observers have felt on learning of President Trump’s about-face on China’s ZTE telecom company from condemning it as violating US national security and violating sanctions rules by selling to North Korea and Iran has been pretty easily explained by our soon thereafter learning that China has provided a mere half a billion dollars to a project in Indonesia where Trump interests are deeply involved. ...

The State of Michigan Legislature is applying for an ACA Waiver as I pointed out in my post Why States Should Not Be Allowed to Alter the ACA with Waviers This is a relief valve for “counties” with high unemployment. In effect if Michigan counties have a high unemployment rate (8.5% or above), the unemployed workers in that county can have Medicaid until such time as the Unemployment Rate drops to 5%. Then the workers are expected to seek employment to...

Angry Bear made the list again on the Intelligent Economist list of top blogs. We are listed in the general category seventh from the top. I see some new names on the list. Congratulations to all contributors for making a fine publication. The Angry Bear is a multi-author blog. Each author has his or her own unique area of expertise. Authors include a tax law expert, historian, numerous economists, and business and financial professionals. The varying...

Real wage growth adjusted for gas prices One of the things I note from time to time in my discussions of wage growth is how much its fluctuation in real terms has been affected by gas prices. For example, in the middle of the worst recession in nearly 70 years, real wages actually went up! Why? Because gas prices fell from $4.25/gallon to $1.50/gallon in just a few months. So, what would a long term view of real wages look like if I took out the...

(Dan here…unemployment rates were about the same at 3.1 per cent (M) and 3.0 per cent (W). Taking a look at other measures of the success of an economy for the average person is well displayed here) Via Eeconomic Policy Institute comes this study: Since 2010, Minnesota’s economy has performed far better for working families than Wisconsin’s… At the time of the November 2010 elections, most states were still reeling from the economic devastation caused...