Tag Archives: US/Global Economics

by Barkley Rosser Just How Bad Is Biden’s Trip To Saudi Arabia?  Yes, I posted on this a while ago, but at that time it was a maybe. Now he is in the air on his way, although, of course, to Israel and the West Bank first, where I have no complaint or comment much. So, basically what I said earlier largely holds, that this is not a trip with much good likely to come out of it. Main “goods”?: affirmation of in-place cease-fire in awful war in...

Aggregate hours and payrolls of nonsupervisory workers and the onset of recessions An important reason I focus on whether or not the economy is heading into recession is that during recessions income and jobs both decline for the middle and working classes as a whole. In that regard, Jared Bernstein, a member of Biden’s Council of Economic Advisors, posted two graphs over the weekend contra the panic about a potential negative Q2 GDP reading. ...

[unable to retrieve full-text content]I have been waiting for an explanation on inflation like this to break loose from a credible source other than myself(?). If you have been around long enough, you kind of know what is going to take place once the Fed starts to increase Fed rates. You may have been around in the seventies when […] The post Explaining Away Stagflation, Inflation, and the Fed appeared first on Angry Bear.

(Dan here…lifted from comments) Barkley Rosser writes: There are two things Trump did that added to inflation that Biden has somehow not undone yet. One of them is reversing the Trump tariffs, which he clearly fears doing because of opposition by Organized Labor and many white working-class voters in the crucial Rust Belt states. Some of them even support tariffs that hurt them personally, such as the autoworkers who lost their jobs at the...

White Rabbit  I have finished reading to my two younger grandsons the two Alice books by Lewis Carroll. I read the edition with commentary by the late mathematician, Martin Gardner, who used to write for Scientific American. I also just listened to Jefferson Airplane’s “White Rabbit,” which is pretty bloody sharp, but which draws on both of the Alice books. While most attention is on the first one, “Wonderland,” which got made into a not bad...

Vladimir Mau Has Been Arrested, Econospeak, Barkley Rosser  Vladimir who? I appreciate that most readers have never heard of this individual. But this is the sign of a major new shift in the situation in Russia. To make clear why this is important: until quite recently Vladimir Mau was the top economic advisor of V.V. Putin. Just prior to his arrest, he has just been reelected to the Board of Gazprom, the most important state-owned company in...

Compensating Wage Differentials according to Dilbert Econospeak, Peter Dorman Tags: econospeak

A Break On The JCPOA Iran Nuclear Deal?  Maybe. It is now reported that “talks are to resume,” although most observers are not optimistic. But then today there is a report of a shakeup in the Iranian Revolutionary Guards hierarchy who seem to control the most serious of these things. Head of their intel, Taeb, has been removed, although it is unclear what this will lead to, despite noises he was too hardline and maybe a deal can be cut with...

RJS: Focus on Fracking ________ Summary: US oil supplies at an 18 year low, SPR at a 36 year low, total oil + oil products supply at a 13½ year low. _________ Detail: The Latest US Oil Supply and Disposition Data from the EIA  Sidenote: The US oil data reported this week by the US Energy Information Administration includes updated data for the week ending June 17th, which should have been published last week but wasn’t due to a...

Real personal income and spending decline in May, while the saving rate increases (not good!) In May nominal personal income rose 0.5%, and spending rose 0.2%. But since the personal consumption deflator, i.e., the relevant measure of inflation, rose 0.6%, real income fell -0.1%, and real personal spending fell -0.4%. While both real income and spending are well above their pre-pandemic levels, I have stopped comparing them with that, but...