Tag Archives: US/Global Economics

Happy Every Economic Statistic in the World Day! 3. Private residential construction spending improves smartly This morning’s third economic release is August construction spending. I track this because it is part of the important long leading housing sector. While it isn’t nearly as leading as housing permits or starts, it is the least volatile of all of the data. And the news was good, in particular for private residential construction spending,...

Happy Every Economic Statistic in the World Day! 1. Jobless claims continue making glacial progress 1. Jobless claims Another week of glacial progress in initial jobless claims, at levels worse than the worst weekly levels of the Great Recession. On a non-seasonally adjusted basis, new jobless claims fell by -40,263 to 786,942. After seasonal adjustment (which is far less important than usual at this time), claims fell by -36,000 to 837,000, another new...

– by New Deal democrat Weekly Indicators for September 21 – 25 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. While the underlying economic data still looks positive, the possibility for disruption based on a full-blown Constitutional Crisis following the election can no longer be overlooked. As usual, clicking over and reading should bring you right up to the moment about the economy, and reward me a little bit for the work I do...

Trump Wednesday refused to commit to a peaceful transfer of power if he loses in November.  He is deliberately undermining confidence in the integrity of mail-in ballot results – mail-in ballots that are expected to favor the Democrats.  According to a report in The Atlantic, the White House is laying plans to actively steal the election: According to sources in the Republican Party at the state and national levels, the Trump campaign is discussing...

Though more different than alike, they do have a lot in common. All are, in some way, progeny of the microprocessor. Some were born in around Silicon Valley, others quite distant. The first generation was born in the US early in the last third of the 20th Century. The second was born near the end of the late 20th — early in the 21st Century. None of them could have been born in an earlier era. Microsoft* 1972, Apple*1976, and Oracle*1977, were...

by David Zetland (originally published at One-handed economist) Review: Bad Blood I’d heard about this book — the story of the rise and fall of Elizabeth Homes and her company Theranos — long ago, but I only decided to read it when preparing readings for my course, The World of Entrepreneurs. I wanted to understand her case, as an example of the dark side of Silicon Valley —  not the side of “fake it until you make it” —  but the side of “lie to everyone,...

by Joseph Joyce The Return of Global Imbalances? The global economic contraction following the pandemic has led to a massive fiscal response. Governments have acknowledged the need to increase spending in order to offset the declines in consumption and investment. The decreases in public savings can lead to rising current account deficits that offset the capital inflows needed to cover the gap between savings and investment. But will these measures...

2019: the year that the late economic expansion finally bore fruit for nearly all of society Yesterday  (Sept. 16) the Census Bureau released its 2019 information concerning median household income and poverty rates. Unfortunately, this data is always released in September of the following year, so is already somewhat stale. Just for example, since the information is collected between February and April of the following year, we may not get complete...

Real retail sales gains join industrial production in sharp deceleration Two days ago we saw that gains in industrial production had decelerated sharply in August. This morning we saw the same thing with real retail sales, one of my favorite indicators. Nominal retail sales were up +0.6% in August. Meanwhile, July’s reading was revised downward by -0.3%. Since in July and August consumer inflation was up +0.6% and +0.4%, respectively, that means revised...

Industrial production improves in August, but with sharp deceleration If the jobs report is the Queen of Coincident Indicators, industrial production is the King. It, more than any other metric, is found at the turning points where recessions both begin and end. This morning’s report of industrial production for August shows that the recovery from the bottom of the coronavirus recession has come close to stalling out. Overall industrial production grew...