Once we get to the one year anniversary of the upward inflection point last year due to Brandon’s Russia sanctions then their “inflation!” is going to go away… looks like May or June …. 295 to 301 is 2%… then what are they going to do?

Weekly Indicators for April 17 – 21 at Seeking Alpha  – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. There’s more *extremely* slow deterioration in some coincident indicators of recession, but at the same time, the downturn has been telegraphed for so long that some leading indicators are on the verge of turning bullish again. As usual, clicking over and reading will bring you up to the virtual moment on all of...

There’s been a lot of recent discussion about relative economic performance of the EU and US as well as (mostly separately) discussion of differences in mortality rates. One way to integrate the two is to think of living in the US as a (very) dangerous occupation, and think about the wage premium demanded by workers to take up such occupations, relative to comparable low-risk jobs. The typical estimate from econometric studies is that a 0.1 per cent chance of death on the job (a...

‘New Keynesian’ DSGE models — unparalleled spectacular failures The problem of the DSGE-models (and more generally of rational expectations macroeconomic models) is that they assume extraordinary cognitive capabilities of individual agents … The fact that the assumption of rational expectations is implausible does not necessarily mean that models using such an assumption cannot be powerful tools in making empirical predictions. The problem, however, is that...

We lost our unity.

Thank you Fred Dobbs and a Happy Mother Earth Day to You also. International Mother Earth Day, United Nations Mother Earth is clearly urging a call to action. Nature is suffering. Oceans filling with plastic and turning more acidic.  Extreme heat, wildfires and floods, have affected millions of people. Even these days, we are still trying to get back on track from COVID-19, a worldwide health pandemic linked to the health of our ecosystem....

Russell K. Standish is a computational scientist based in Sydney, Australia. He was the founding director of UNSW's High Performance Computing Support Unit from 1997-2005. In 2005 he established a computational science consultancy called High Performance Coders. Since 2002, he has held an adjunct associate professorship with UNSW's School of Mathematics and Statistics Minsky Download: https://sourceforge.net/projects/minsky/

I am not sure I would belong in this particular hell created by a newly elected Ottawa, Michigan County Board. The title (above [in case you forgot where it is]) change (left to right) embraces the newly elected leadership thoughts on how to run a county. The county can be found on the southwest side of Michigan. It includes the cities of Holland where the Tulip Festival is held and Grand Haven. Pretty area, my wife and I would grab lunch on the...

Unlimited debt creation

I have written on deindustrialization before (see here and here), and commented on the CHIPS Act, and how it was one of the first, if not the first, re-shoring of manufacturing jobs into the US. Krugman just wrote a column on that, noting that the concern with manufacturing is now bipartisan, as Biden policies follow Trump's, he argues the former more successfully than the latter. Also, I should note that the the pressures for US corporations to reorganize their supply chains away from China...