Tag Archives: Featured Stories

Major Economic Confusion  Anybody confused by recent economic reports is not alone. The BEA has just reported a totally unexpected decline in real GDP for the first quarter of a 1.4% annual rate.  At the same time layoffs have reached a half century low and employment continues to rise.  How can we have an apparently beginning recession with the hottest job market in decades? Probably this has to do with the sources of the reported decline,...

Introduction to Bankruptcy Discharge for Student Loans I know the image on the right, my other right is small. To enlarge it, click on the picture. A plus sign may show up to make it even larger. I have been following the student loan crisis (and it is such) well over a decade. I have engaged certain politicians on the issue in public. I have worked with Alan Collinge at Student Loan Justice Org for well over a decade. He is in...

Just how dry have the ground conditions been? Dire. Fire sweeping towns from Austin to Los Angeles, dire. Rain? Forecast yes, but closer to the Powell Line. The Powell Line, as stated previously is where the dry plains and the wet prairie meet. An abundance and a desert. Too much and not enough. Floods and fire. We finally got rain today. Much needed as we have pumped 20,000 gallons and then some per month out of the aquifer supplying Dallas,...

Yesterday Emmanuel Macron was re-elected president of France solidly defeating Marine LePen by about 16%. This is a relief. I think a striking aspect of the election was the absence of Gaullist or Socialist candidate in the runoff. Instead there is a centrist vs a far rightist. This pattern is not confined to France and also not universal. One important point is that LePen made the runoff by defeating leftist Jean-Luc Melenchon by 1.5% in the...

Mortgage rates continue to rise; once the backlog in construction is cleared, this will likely kill housing No important economic news today (April 22), but an important negative trend in interest rates is continuing. Mortgage rates are now at 12 year highs. The weekly data from Freddy Mac’s weekly survey shows rates increased to 5.11% as of April 21: This is 2.46% above the low of 2.65% that was set at the end of 2020, and the...

SARS-CoV-2 transmission on planes – Katelyn Jetelina (substack.com) This substack article came to me by way of a commenter asking if I was interested in it. Of course, I am. It is a part of healthcare and covers a topic I believe is important to all of us. Stopping the transmission of Covid. Introduction On Monday, a Florida judge voided the U.S. mandate for public transit, which includes planes, trains, and buses. Several airlines...

— “One for you, and one for me,” works well enough for divvying up when there are only two. When there are more than two and the divvier gets one for everyone else’s one, that’s capitalism; one of the greatest cons of all times. Somehow, 1% convinced the other 99% to believe in something that was in the interest of the 1% and contrary the interests of the 99% without necessarily invoking religion. More like, they who hold the marbles make the...

This comes by way of New Deal Democrat who was doing some research and ran across a not so recent Krugman article via the late Economist’s View blog. Krugman’s prescient words of things to come? Hat tip to New Deal democrat and a thank you for sending this to me. “The Great Illusion” Paul Krugman, Commentary, NY Times So far, the international economic consequences of the war in the Caucasus have been fairly minor, despite Georgia’s role...

Tough Guy, senator Mitch McConnell making political hay over President Joe Biden extending a student loan moratorium for a few more months. The mistake Joe is making or has made is not deciding what to do. It is getting late in the game of politics. Here is senator Mitch McConnell. “I think in this country, it’s important to remind people that we ought to pay our debts,” McConnell opined. “We all pay our debts. And with regard to extending the...

Under the guise of “protecting” citizens, the Texas legislature, instead of having the gas companies eat their losses from Winter Storm Uri last year, have floated a $3.4 billion bond package to have the taxpayers fund it. The sales pitch is that the gas companies, three large and a smattering of smaller operators get made while whilst the citizens tax dollars fund the bailout over time. As most of you know, Texas doesn’t have income taxes, and...