In my last post, I debunked the myth of the "reserve pool" of British workers. In this post, I discuss three more labour force myths that refuse to die: the myth of the "tide of unskilled immigration"the myth of the falling participation rate, and the myth of the "workless yoof". There's also an update about my charity walk in the Lake District last Saturday, and a couple of pics. Read the post here. It's free to read. 

– by New Deal democrat I never used to pay much attention to the ISM non-manufacturing report. That is partly because it only has a 20 year history, and partly because it seems to be more coincident than leading: But because manufacturing has faded so much as a share of the US economy, with at least two false recession signal in the past 10 years (2015-16 and 2022-23): there is no choice but to pay more attention. In particular, it...

To practice self discipline.

In which I read Paul Krugman, & once again find myself arguing myself into believing that the Federal Reserve ought to have spent this spring cutting interest rates . . . by Brad Delong Grasping Reality Newsletter AB: I receive some of Brad DeLong’s commentaries in my inbox. I read them and have not posted them because I feel guilty for doing so. The commentary (which includes Paul Krugman) if read carefully agrees with what some of us...

 – by New Deal democrat I’ll write about today’s ISM non-manufacturing report later, but first I wanted to follow up with several more graphs based on yesterday’s JOLTS labor report for April. Basically, I didn’t want to leave the impression that the labor market was in any way sub-par based on those numbers. With that in mind, below are two graphs. Both show the entire history of hires (red) and quits (gold) normed to 100 as of the yesterday’s...

Another stupid climate change denialist troll trick is to point out that volcanos also emit carbon dioxide and therefore volcanos, not human activity, are the cause of the current climate change crisis. While vulcanism has shaped the climate during earth’s history, it is not a significant contributor today. Human activity-associated CO2 generation dwarfs volcanos. Again, Google is your friend:“Volcanic eruptions are often discussed in the context of...

The greatest of them all [embedded content]

A favorite canard of climate change denialist trolls is to trivialize the amount of carbon dioxide in the atmosphere; how could something that is only 0.04% of the atmosphere drive global warming? Well, Google is your friend:“About 99 percent of the atmosphere is made of oxygen and nitrogen, which cannot absorb the infrared radiation the Earth emits. Of the remaining 1 percent, the main molecules that can absorb infrared radiation are CO2 and water...

There is a far greater detailed article at the New England Journal of Medicine. Angry Bear did not have the space to rightfully do the article justice. Instead, we concentrated on the letter to the editor written April 19, 2024. The article was published on May 30, 2024. Just the brief letter to the editor is explosive. We did add chart S5 which gives a breakdown by region. I believe this better explains the concern by the authors of the Firearm...

I have been shrinking this total report through editing so as to make it easier to read in a shorter amount of time. It is also split into three parts to minimize the size of the read also. To me, it is pretty interesting as there have been discussion about how the CBO and other agencies such as Social Security and the Census reach their conclusions. For you, it might be boring. Just attempting to promote better understanding. ~~~~~~~~ The...