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Home / Tag Archives: US EConomics

Tag Archives: US EConomics

Agenda of Biden’s Build Back Better Bill

The same as the American Rescue Plan Act and the Improving Medicare Coverage Act, no one is talking of the detail within the Build Back Better Agenda bill. This makes it very vulnerable to pseudo Senators like Krysten Sinema and Joe Manchin who are holding out for what ever reasons or just for spite. It is also good for Angry Bear to know its content too. If there are questions, ask away. I will try to answer with what I know. Build Back Better...

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Continuing accelerated consumer inflation points to sharp slowdown, but no recession imminent

Continuing accelerated consumer inflation points to sharp slowdown, but no recession imminent Inflation, along with the expiration of the emergency pandemic payments, is one of the two big threats to this expansion. This morning’s report on consumer inflation for September, at 0.4%, was certainly elevated compared with its typical pre-pandemic reading of 0.2%/month, but on the other hand was the third month in a row of sharp deceleration from...

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August JOLTS report: progress towards a new jobs equilibrium?

August JOLTS report: progress towards a new jobs equilibrium? This morning’s JOLTS report covers August, which you may recall featured a disappointing jobs report (since revised somewhat higher ), during which the Delta wave was growing to its worst levels, and two months after a number of GOP-controlled States terminated enhanced unemployment benefits, on the theory that they were excessive and were coddling idle workers. Despite this, last...

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Bad Reporting On Latest Sveriges Riksbank Prize In Memory Of Nobel

Bad Reporting On Latest Sveriges Riksbank Prize In Memory Of Nobel  So the recipients are half of it to David Card for his 1994 study with the late Alan Krueger, who committed suicide not too long ago, on minimum wages, and how raising them might actually sometimes increase employment.  The other half was split between Joshua Angrist and Guido Imbens for developing econometric techniques for studying natural experiments, such as differences in...

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Weekly Indicators for October 3 – 7 at Seeking Alpha

by New Deal democrat Weekly Indicators for October 3 – 7 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Although I have read a few pieces this past week about deep downgrades to Q3 GDP estimates, and other problems with sales, the fact remains that the high-frequency indicators are almost all positive, across all timeframes. As usual, clicking over and reading will bring you fully up to date on the economic trends,...

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Employers Added 194M jobs, U3 Down, PR Declined

Blogger RJS, Marketwatch 666, September jobs report September Summary Major agency reports released this past week included the the Employment Situation Summary for September from the Bureau of Labor Statistics, the August report on our International Trade from the Commerce Dept, and the Full Report on Manufacturers’ Shipments, Inventories and Orders for August, and the August report on Wholesale Trade, Sales and Inventories, both from the...

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The Passing Of Peter Flaschel And The Bielefeld School Of Macroeconomics

The Passing Of Peter Flaschel And The Bielefeld School Of Macroeconomics  German economist Peter Flaschel died yesterday at age 78.  I am not sure precisely of what, although it was not Covid-19.  He had been in declining health for some years, with a heart problem at least.  Roberto Veneziani, from whom I learned the news, said that Peter “sounded tired” when he spoke with him a few days ago.  Ironically he spoke with him to tell him I had...

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September jobs report: once again, two very different surveys net to a “relatively” disappointing gain

September jobs report: once again, two very different surveys net to a “relatively” disappointing gain As I previously indicated, two items I was particularly watching for in this morning’s report (Oct. 7) were (1) manufacturing hours and payrolls – to see if that white-hot sector was holding up in the face of supply bottlenecks, and (2) whether there were continued gains in leisure and hospitality jobs, or whether Delta had caused those to...

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Updated US wealth distribution data shows how bad the Great Recession and its aftermath were, and how effective the pandemic assistance has been

Updated US wealth distribution data shows how bad the Great Recession and its aftermath were, and how effective the pandemic assistance has been   The desert of new economic data this week continues today. But last week the Fed released its quarterly data on wealth distribution in the US, and it shows an important point about the efficacy of the emergency pandemic assistance. Let’s take a look. Let’s start with the raw absolute levels of...

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Housing and car sales, oh my!

Housing and car sales, oh my! [If last week was a slow week for economic data, this week is a virtual wasteland until Thursday, so I took yesterday off.] Last month I wrote that typically it has taken at least a 20% decline in housing construction to be consistent with an oncoming recession and that we weren’t there yet. As of the most recent housing permits report, single-family permits were down 17% from their recent peak: One...

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