Tag Archives: US EConomics

During last night’s CNN “town hall” fiasco Trump had this to say about the debt ceiling: Former President Donald Trump on Wednesday urged Republican lawmakers to let the United States default on its debt if Democrats don’t agree to spending cuts. “I say to the Republicans out there — congressmen, senators — if they don’t give you massive cuts, you’re going to have to do a default,” said Trump, who is again running for president. “And I don’t...

Inflation ex-shelter increasing at 1.0% annualized rate since last June; core inflation with actual house prices only up 3.0% YoY  – by New Deal democrat Two months ago, I “officially” took the position that inflation had been conquered, and that, properly measured, the economy had actually been experiencing deflation since last June. With revisions, the “actual deflation” is no longer the case; but for the second month in a row since then,...

In an effort to slow down the severe recession as well as the persistently high unemployment rate following the 2007-08 Financial Crisis, the government increased federal spending. As a result, the federal debt reached its limit on multiple occasions from 2008 to 2011 which led to a series of increases of the debt limit. In 2011, the Treasury asked for its borrowing capacity to be extended. The 2011 U.S. Debt Ceiling Crisis led to a contentious...

This Hill article was up on Naked Capitalism’s Links this morning. More of the Democrats urging extreme caution in pursuing the 14th Amendment as a solution to a debt limit which is an agreement between parties and not a requirement. One could always print more money to resolve the issue also. Meanwhile, citizens having little political power presently are being held hostage and ultimately will pay a price. 14th Amendment talk on debt limit...

Credit conditions worsen, and likely to worsen further due to Debt Ceiling Debacle II  – by New Deal democrat The Senior Loan Officer Survey, which measures credit on offer by banks, and the demand for credit by their customers, was released yesterday afternoon for Q1, and the news – unsurprisingly – was not good. Credit conditions not only tightened, but they tightened at a higher rate than they had in previous quarters, as about half of...

Factbox: What’s in Republican McCarthy’s debt-limit spending cut package? Reuters, Andy Sullivan. Items Republicans and McCarthy are pushing for in a debt-limit package. The bill would essentially pair $4.5 trillion in spending cuts with a $1.5 trillion increase in the federal debt limit. Republicans are wanting to talk about government borrowing. “What’s in your wallet,” today as one bank loves to ask when it comes to credit cards. Well,...

run75441’s footnote to NDd Weekly Analysis . . . The analysis by NDd is one of the most thorough ones, I read on a weekly basis. It sums up the week casting the numbers for the week in comparison to what is going on economically. What I see happening in the economy, NDd brings to light for free at Seeking Alpha. If there is anyone here more knowledgeable in numbers than I, you should still be rading NDd’s take. The link is in the title. Weekly...

April jobs report: deceleration continues, with sharp downward revisions to previous months’ gains  – by New Deal democrat My focus for this report continued to be whether the leading sectors and other indicators continued to decline, and whether the pace of growth continued to decelerate. While the deceleration in growth did occur – and substantially so – the leading sectors were decidedly mixed, with some – notably the unemployment and...

Bankrupt Bed Bath & Beyond goes after container shipping lines, freightwaves.com, Greg Miller Kind of an interesting story if true. Bed, Bath, and Beyond contracted for a specific number of containers to haul their ordered product from one destination to the US. From the way the allegations go, the Container Company/Shipper failed to provide the containers and sold the space on the ships to others for a higher amount. Bed, Bath, and Beyond has...

Jobless claims hoist yellow flag again; employment and unemployment likely to show further deceleration tomorrow  – by New Deal democrat Initial jobless claims rose 13,000 to 242,000 last week, while the 4 week average rose 3,500 to 239,250. Continuing claims, with a one week lag, declined -38,000 to 1.805 million: This is right in the range of the past 2 months. YoY initial claims are up 11.0%, the 4 week average is up 10.8%, and...