I believe I have seen one boy walk out of a Frys with something in his arms. He did not pass through the cashier line but waited for the gates to open to the store and walked through the opposite way. Did the need whatever he had? I don’t know. The only thing this false […]
Another take on Housing and Supply of Housing by Skanda Amarnath at the well-known Employ America. This follows or leads what New Deal democrat has been discussing at Angry Bear blog here, here, and here. When we bought into our single-family home, I was able to lock in a 2.6% 30 year mortgage. At this […]
Jobless claims join other data series inching in the direction of yellow caution territory – by New Deal democrat Ever since jobless claims started higher in May, I’ve cautioned that I suspected that unresolved seasonality may be at play. We are now at the point where claims were at their low points for all last […]
Industrial and manufacturing production close to 10 year+ highs in June – by New Deal democrat If the news in housing construction the other morning was cautionary, the news on manufacturing and industrial production was very good. Manufacturing production (red in the graph below) rose 0.4% in June, and is only 0.2% below its post-pandemic […]
GOP Pretends as usual By Robert Reich Substack The Republican Party began its national convention last night, with a bow to . . . (wait for it) . . . organized labor. Or Unions. You read that correctly. A few days ago, the Republican National Committee sent out an email with this remarkably ironic headline: […]
General Motors Receives $500M Federal Grant to Electrify Lansing Grand River Plant by R.J. King DBusiness Magazine AB: Plant conversions from building gasoline and diesel driven vehicles to EVs. A timely move even if the newer models will require need modifications in later years. General Motors Co. today announced it has received a $500 million grant […]
Housing permits and starts stabilize, but construction comes close to generating yellow recession caution signal – by New Deal democrat There was good news and bad news in this morning’s report on housing permits, starts, and construction. The good news is that both permits and starts stabilized after last month’s initially reported multi-year lows. The […]
The yellow caution flag on retail consumption is up – by New Deal democrat Retail sales declined -0.1% in June, but since consumer inflation also declined -0.1%, real retail sales were unchanged for the month. There was an upward revision to May which helped out the comparisons slightly, but for the entire first half of […]
I was born into an America where the eight-hour workday was widely observed. But what was for me just another fact of life was a hard-won right of the labor movement that cost hundreds of lives. “Death in the Haymarket: A Story of Chicago, the First Labor Movement and the Bombing that Divided Gilded Age […]
The inverted Treasury yield curve: we are in uncharted territory – by New Deal democrat We passed a significant anniversary last week: the spread for the 10-year minus 2-year Treasury has been inverted for over 2 years (blue in the graph below). The 2-year minus 3-month Treasury spread has also been inverted for 20 months […]