Tag Archives: US/Global Economics

As always, I am bloviating on a matter where I am not expert. I do sometimes wonder what the hell we should do with the strange human invention called intellectual property. It can be argued that it was a brilliant invention. For example the US Constitutional Convention wrote “To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;”...

Blogger and Commenter RJS, 3rd Quarter GDP Grew at a 2.1% Rate, Revised from 2.0%; All on Inventories, No Real Final Sales The Second Estimate of our 3rd Quarter GDP from the Bureau of Economic Analysis indicated that our real output of goods and services grew at a 2.1% annual rate over the quarter, revised from the 2.0% growth rate reported in the advance estimate a month ago, as personal consumption expenditures grew more than was previously...

 by New Deal democrat Weekly Indicators for November 22 – 26 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Despite the roiling of the financial waters (on thin trading, with all of the A-list movers and shakers away from their desks) on Friday, the underlying indicators for the economy in all timeframes remain generally positive. As usual, clicking over and reading will bring you up to the virtual moment about...

RJS at MarketWatch 666, October Durable Goods: New Orders Down 0.5%, Shipments Up 1.5%, Inventories Up 0.6% The Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders for October (pdf) from the Census Bureau reported that the value of the widely followed new orders for manufactured durable goods decreased by $1.2 billion or 0.5 percent to $260.1 billion in October, after September’s new orders were revised but still...

Commenter and Blogger RJS at Focus on Fracking and MarketWatch 666 brought up the past history of US SPR oil releases and the impact on oil prices in the Comments section. Since 1990, each time releases (SPR) have been made, there has been a countering reduction of oil by OPEC which could include Russia this time. Taken from Tyler Durbin’s Zero Hedge post entitled “Saudis, Russians Consider Pausing Oil Production Increases In Retaliation To...

The consumer spending spree continued in October, New Deal democrat Real personal income and spending held up well throughout the pandemic, due to a vigorous government response. With special benefits ended, the question has been: will they hold up? This month, the answer was a definite “yes.”In nominal terms, personal income increased 0.5% and spending rose 1.3%. In real terms, personal income (blue in the graph below) declined -0.2%, but real...

EconoSpeak: Playing With The Strategic Petroleum Reserve, Barkley Rosser Over the last month crude oil prices have noticeably declined from in the neighborhood of $85-86 per barrel to $78-80 per barrel. But there has been only a very small decline in retail gasoline prices, and the headlines even as of yesterday was all about “sharply rising gas prices.”  So, Pres. Biden has moved to release a record amount of oil from the Strategic Petroleum...

Blogger RJS, MarketWatch 666 and Focus on Fracking, Global Oil Shortage at 1,930,000 barrels per day in October as OPEC’s output falls 588,000 barrels per day short of quota OPEC’s October Oil Market Report Thursday of this week saw the release of OPEC’s November Oil Market Report, which includes OPEC & global oil data for October, and hence it gives us a picture of the global oil supply & demand situation for the third month after...

Latest US Oil Supply and Disposition Data from the EIA. Blogger RJS, Market Watch and Focus on Fracking Gasoline supplies at a 48 month low, distillate supplies at a 19 month low; total inventories of oil and all its products at a 79 month low US oil data from the US Energy Information Administration for the week ending November 12th showed that a big jump in our oil exports and a modest decrease in our oil production meant we had to pull oll...

Dems Continue To Sink Despite Improving Economy  On the first page of today’s Washington Post was reported a poll showing that when a random sample was asked, 46% said they would vote for a generic Republican candidate for Congress versus 43% for a generic Democratic candidate. Given reported further pro-GOP gerrymandering, if this were to hold for next year’s midterms, GOP would certainly take solid control of the House, if not the Senate.  Not...