Tag Archives: US EConomics

Reader and poster Coberly updating Angry Bear readers on recent Social Security findings in the 2020 report. Reader Bruce Krasting had alerted Angry Bear to the publication by the Social Security Trustees of a “revised baseline” that includes effects of the Covid recession on their projections otherwise from the 2020 Trustees Report. “Updated Baseline for Actuarial Status of the OASI and DI Trust Funds, Reflecting Pandemic andRecession Effects“...

Fact: Contrary to what President Trump claims, the Postal Service can’t solve its financial problems by raising “the price of a package by approximately four times.” Steve Hutkins at Save The Post Office discusses the financial issues facing the United States Postal Service and why the Postal Regulatory Commission  new plans to increase prices may be problematic. By no means is this a new topic. It has been brought up repeatedly by members of...

November data starts out strong with a very positive ISM manufacturing index The first November data point, the ISM manufacturing index, was reported this morning, and while it declined from last month, it remained very strongly positive. The overall index declined from 59.3 to 57.5, and the more forward-looking new orders index declined from 67.9 to 65.1: Since any reading above 50, however, indicates expansion, these were positive readings. The...

 by New Deal democrat Weekly Indicators for November 23 – 27 at Seeking Alpha A little later than usual, my Weekly Indicators post is up at Seeking Alpha. While there has been no big deterioration, there are further slight signs that the out of control pandemic is taking a toll on the recovery that has been underway for the past 6 months. As usual, clicking over and reading will bring you up to the virtual moment on the economy, and reward me a little...

October personal income declines, but still well above pre-pandemic peak; increased likelihood of negative pandemic reversal in jobless claims Before I turn to this week’s report on jobless claims, a brief word first about October’s personal income and spending. Although personal income declined in October compared with September, more importantly depending on how you measure it, real personal income is still 2.6% to 3.4% *higher* than it was at its...

The good mayor of El Paso is at wit’s end. He is worrying himself into the grave. The City’s hospitals and morgues are overflowing. Seems that the people have to work to eat, and, if they work, they get the virus and get sick, and, too many die. Damned capitalism is as deadly as the virus; together they are a catastrophe. Maybe, if he would just step across the border into New Mexico, better yet, hop on a plane to San Francisco, better to get as far away...

First a story, then an introduction to Alan Collinge of Student Loan Justice Org., and finally some cold hard facts from Alan about what is happening to millions of people who have student loans. Your Angry Bear blogger and activist went to a garden party in Michigan in support of Democrats and Senator Debbie Stabenow pre-2018 election. I had donated to the Democrats and directly in support of various county, state, and federal candidates. Since I had...

Lack of inflation in September consistent with weak demand; real wages increase, but will the pandemic derail the gains? Consumer prices were unchanged in October, both on a seasonally adjusted and unadjusted basis: But while the lack of inflation is good news in isolation, the last two months can also be viewed as a sign of economic weakness – lack of demand – from a recession. Digging a little deeper, for the past 40 years, recessions had...

[embedded content] Friday, November 20, 2020 3:00 PM (EST) Student Loan Debt Crisis Panelists include: PAUL GRONDAHL – Director New York State Writers Institute (host) MATT TAIBBI – Author, Rolling Stone Magazine, Reporter (moderator) Michael J. Camoin – Videos For Change Productions, SCARED TO DEBT (filmmaker) ALAN COLLINGE – Founder of StudentLoanJustice.Org (activist) CATHERINE AUSTIN FITT – Investment Advisor (former Sallie Mae ) THOMAS BORGERS – Wall...

These days, the nation, the world, is faced with the problem of how to distribute wealth, wealth that is being created using less and less labor input? How to distribute the profits from highly capitalized, highly automated, production? Unions, that had been much a part of the solution to the distribution problem in the early 20th century, are becoming more and more irrelevant. A new economic model is desperately needed. Since the dawning of the...