Tag Archives: US/Global Economics

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...

Dear Democrats: Yes, inflation is a problem [Update: I see where Larry Summers has obviously read my piece below, and says, “I agree with NDD!”  (Just teasing)] In the past few days, I have seen a spate of articles and tweets from prominent partisans and economists telling Democrats not to worry about inflation, either because it is a transient supply chain issue, or else because Biden’s infrastructure and “Building Back Better” plans will...

September JOLTS report: slow progress towards a new equilibrium This morning’s JOLTS report covers September, at the beginning of which the Delta wave peaked and then gradually receded for the remainder of the month. It is also the month that the last of pandemic emergency benefits ended.  We did see the second consecutive decline in job openings, as they decreased 191,000 to 10.438 million (blue in the graph below), while actual hiring...

Disposable time, surplus population, and the limitation of the hours of labour [embedded content] I’m on at 5:35 of the video. A little hoarse at 4 a.m.! Tags: and the limitation of the hours of labour, Disposable Time, surplus population

Commenter and Blogger RJS, MarketWatch 666. CPI Rose 0.9% in October on Higher Prices for Food, Shelter, Energy, and Vehicles; Annual Inflation at a 31 Year High And October at +0.94332% exceeds June at +0.90486% so it’s the biggest one month jump in over 13 years.. The consumer price index rose 0.9% in October, the greatest one month jump since June 2008, as higher prices for food, energy, new and used vehicles, furniture and outdoor...

Disposable time, disposable population, disposable products DISPOSABLE TIME, DISPOSABLE TIME, DISPOSABLE TIME, DISPOSABLE TIME, DISPOSABLE TIME, DISPOSABLE TIME, DISPOSABLE TIME… Did I mention “disposable time”? Marx repeated disposable time seven time in paragraph (three paragraphs in the complete works) I’ve taken the above excerpt from. In English. In capital letters. That, and the fact that his theory of crisis was sandwiched between two...

Nobody is (still) getting laid off [Note: This Nov. 10th consumer inflation report was very important, and not in a good way. So I plan on doing a more extensive post on it tomorrow, and I’ll probably put off the next “Coronavirus Dashboard” by Friday.] Initial claims declined another 4,000 this week to 267,000, and the 4-week average declined 7,250 to 278,000, both new pandemic lows: For the past 50 years, initial claims have only been at...