Tag Archives: Uncategorized

Up nicely but not so good excluding aircraft orders, which are highly volatile: Highlights Factory orders surged 3.0 percent in June but were skewed higher by a more than doubling in monthly aircraft orders. Excluding transportation equipment, a reading that excludes aircraft, orders actually fell 0.2 percent in the month following a 0.1 decline in May and no change in April. June orders for capital goods (nondefense ex-aircraft) were also weak, unchanged in the month....

Meanwhile, in Australia: A LOCAL council has banned the construction of a synagogue in Bondi because it could be a terrorist target, in a shock move that religious leaders say has caved in to Islamic extremism and created a dangerous precedent. The decision, which has rocked the longstanding Jewish community in the iconic suburb, was upheld in court this week as the nation reeled from the alleged airline terror threat and debate raged over increased...

from Lars Syll Along with the Arrow-Debreu existence theorem and some results on regular economies, SMD (Sonnenschein-Mantel-Debreu) theory fills in many of the gaps we might have in our understanding of general equilibrium theory … It is also a deeply negative result. SMD theory means that assumptions guaranteeing good behavior at the microeconomic level do not carry over to the aggregate level or to qualitative features of the equilibrium. It has been difficult to make progress on the...

Some ‘alternative economics’ have reently been published: we are moving from criticism to alternatives. Which is a good thing: Kate Raworth broke ground with Doughnut economics. Jamie Morgan et all recently published ‘Quest for a new paradigm in economics. A synthesis of views of the New Economics working group’. We can also mention the people publishing in the Journal of Industrial Ecology, who do not look at the circular monetary economy but at the circularity (or not) of flows of...

Highlights ADP sees the private payroll reading in Friday’s employment report coming in at 178,000. But ADP has been wild lately, evident in its sharp 33,000 upward revision to June which is now at 191,000. Econoday expectations are calling for 175,000 in private payroll growth in Friday’s report and 178,000 in total nonfarm payroll growth. ADP private falling off since year end: The now strong euro seems to be keeping a lid on prices via a drop in import prices. Looks to...

The chart is consistent with the deceleration in real estate lending as previously discussed: Highlights June’s construction spending report has much in common with June’s personal income and outlays released earlier this morning: lack of any apparent life. Spending fell an unexpected 1.3 percent in June with a 3 tenths upward revision to May only a minor offset. Residential spending in June fell 0.2 percent as a setback for multi-family units offset a respectable 0.3...

from  Nature Climate Change  Less than 2 °C warming by 2100 unlikely Adrian E. Raftery, Alec Zimmer, Dargan M. W. Frierson, Richard Startz & Peiran Liu The recently published Intergovernmental Panel on Climate Change (IPCC) projections to 2100 give likely ranges of global temperature increase in four scenarios for population, economic growth and carbon use1. However, these projections are not based on a fully statistical approach. Here we use a country-specific version of Kaya’s...

MEV serviced the server for Angry Bear and updated WordPress and plugins.  It seems the comments for NDd and the open thread closed.  I will re-post NDd’s post and simply add an open thread for today.

So @atrios tweeted asking for a definition of socialism in 140 characters or less. Being a fool, I tweeted “Means of production controlled by people elected with one person one vote” Many people objected that all states which say they are socialist are also not democratic. I need more than 140 characters to explain my definition & impose on your patience. First a definition must be true of all examples of the set defined & not true of any...