Tag Archives: Featured Stories

[unable to retrieve full-text content]“Looting is a natural response to the unnatural and inhuman society of commodity abundance.” — Guy Debord, “The Decline and Fall of the Spectacle-Commodity Economy.” The photograph used in Andy Warhol’s 1964 print, “Race Riot” was taken by Charles Moore and was published in LIFE magazine in May of 1963. Warhol used it without permission […]

[unable to retrieve full-text content]The 2020 Presidential and Senate polling nowcast: Biden’s popular majority is congealing Here is my weekly update on the 2020 elections, based on State rather than national polling in the past 30 days, since that directly reflects what is likely to happen in the Electoral College. Remember that polls are really only nowcasts, not forecasts. […]

An Increasing Anomaly In The US Balance Of Payments  On Econbrowser Menzie Chinn has posted about an increase in the scale of US international net indebtedenss. Since the late 1980s the US has been a net debtor internationally, borrowing more from abroad then we are lending and investing there.  The increase in this net indebtedness has noticeably accelerated since our current POTUS took office, and especially this year.  The size of that net...

More on the bifurcation between the booming stock market and the bust of an economy  I wrote that new stock market highs in the face of the worst US economic downturn since the Great Depression were primarily a function of a few stocks that are particularly tied to the global economy rather than tethered to the US; that those stocks also benefited from delivering online content or physical stuff to homebound consumers; and that the background long...

by Joseph Joyce FDI in a Risky World The pandemic has shown that global supply chains are vulnerable to shocks. Output contracted as factories were closed in China and the impact was transmitted to firms further along the chains and the distributors of the final goods. Foreign direct investment had already slowed in the aftermath of the global financial crisis of 2008-09, and there were questions about its future (see here). How will multinational firms...

The 2020 Presidential and Senate polling nowcast: partisan positions continue to harden Here is my weekly update on the 2020 elections, based on State rather than national polling in the past 30 days, since that directly reflects what is likely to happen in the Electoral College. Remember that polls are really only nowcasts, not forecasts. They are snapshots of the present; there is no guarantee they will be identical or nearly identical in early...

The End Of Special Fiscal Stimulus  A week ago a two week long negotiation between Dem Congress people, Nancy Pelosi from the House and Chuck Schumer from the Senate and Treasury Secretary Steve Mnuchin, who cut deals with Pelosi and Schumer three times earlier this year, but now Trump’s Chief of Staff, former Freedom Caucus leader in the House, Mark Meadows, notorious for only destroying deals and never making any. And in this case, all the reporting is...

WWII was America’s finest hour. Before that, her multitude of sins had always been covered up by her bounty of natural resources, her yet unsettled land, … her offer of opportunity. There was room to grow, chances for people to start over, … In the lead up to, and during, the War, America stepped up. Then, the situation was well defined. Usually, it’s hard to discern what is going on at a given time; what is going on ‘now’. Before the War, we sometimes...

“Trump ally making ‘high-risk’ changes at USPS, says former postal service deputy,” The Guardian, Sam Levine, August 12, 2020 I received a message from former NC Postmaster Mark Jamison and Angry Bear contributor about a brief interview he did with The Guardian for part of its story on the changes being done at the USPS by the new Postmaster General. A former top official at the United States Postal Service (USPS) has warned about recent Louis DeJoy...

In the second quarter, the federal deficit leaped from under 5% of GDP last year to near 15% now. This is new record compared to the prior record of almost 10% of GDP that Obama inherited from Bush Yes, falling nominal GDP played a role, but a weak economy always plays a role in setting new record deficits.  But in considering what new stimulus Washington comes up with it will serve us well to remember that the new base line already starts at 15% of GDP....