Tag Archives: US/Global Economics

Dan Crawford: The passing of Barkley Rosser is terribly sad news. Angry Bear has had connection to Barkley since 2006 at least. He was also instrumental for helping Bruce Webb and the topic of Social Security gain traction nationally. Tyler Cowen posted a link to his profile “Man in motion,”- JMU at James Madison University. “What economist J. Barkley Rosser can teach us about how we adapt to a changing world.“...

‘Right-to-repair’ advocates skeptical of John Deere agreement, NPR, Joe Hernandez Pulling from NPR’s Joe Hernandez’s article and adding some of my automotive background. to explain. Like automobiles, tractors have gone high-tech using on-board computers and semi-conductors to run various systems within cars and also farm tractors. This includes systems such as fuel injection to oxygen ratios, ignition, timing, temperature, and the overall...

Scenes from the December jobs report: more deceleration  – by New Deal democrat The only significant economic data this week will be released on Thursday, with both CPI and jobless claims. In the meantime, let’s take a closer look at the jobs data we got last Friday. As indicated in the title of this post, the theme was “deceleration.” First, here is the long term YoY look at total employment (blue), employment in goods-producing industries...

In which I quibble with Prof. Alan Blinder about the main reason for the decline in inflation since June  – by New Deal democrat Alan S. Blinder is getting traction for an opinion piece published in the WSJ concerning the big decline in inflation since June. He acknowledges that“ energy inflation played a meaningful role” but that “the rest of the stunning drop in inflation in 2022 [is] due …  What did change dramatically was the supply...

Economist David Zetland lets us know our place of birth has a much larger impact on our success or failure globally than what we suspect. It is not solely up to us to be successful. The country of our birth has a great impact. The understanding of our luck to be where we are globally impacts our view of people’s success who our born into other countries. “Born (un)lucky?” The one-handed economist, David Zetland I was born an American and...

Weekly Indicators for January 2 – 6 at Seeking Alpha  – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. No big changes from the past month or so. The overall economic picture continues to be driven by the effects of the price of gas. As usual, clicking over and reading will bring you up to the virtual moment as to the trends in the economy, and reward me a little bit for my efforts. Weekly Indicators for December...

Herb Gintis, 1940-2023 Peter Dorman @ Econospeak My dissertation chair, Herb Gintis, died yesterday in Northampton, Mass.  We didn’t stay in touch after I graduated—our interests and perspectives diverged—but I will always appreciate what he gave of himself at a difficult time in my life. After my first dissertation went awry (don’t ask!), Herb, who had been on my committee, stepped in and helped me identify a new topic.  I had to learn a...

December jobs report: good headlines, but deceleration continues    – by New Deal democrat If the long leading indicators all last year, and the majority of the short leading indicators from the past few months are to be believed, a recession is near. And if that is the case, we ought to see the leading elements of the jobs report begin to roll over. One of them, the average manufacturing workweek, clearly has. Arguably so has temporary...

Ukraine is getting much more advanced offensive weapons . . . This seems to mark a major shift, a commitment to helping Ukraine go on offense and win.  Open questions . . . How far will Ukraine’s partners go?  Infantry fighting vehicles today, maybe tanks, ATACMs, planes, etc. tomorrow?  How big a threat is the Republican controlled House of Representatives?  Will Ukraine be able to avoid a drawn out war of attrition?  Can it launch successful...

December manufacturing, new orders both decline further, to readings even more on the cusp of recession  – by New Deal democrat I described last month’s ISM manufacturing reading as being one “on the cusp of recession.” Well, this month’s reading was even cusp-ier. To recapitulate, this index has a very long and reliable history. Going back almost 75 years, the new orders index has always fallen below 50 within 6 months before a recession....