Fourth Quarter GDP
GDP growth of 2.9% sounds pretty good. But there is underlying weakness in the economy. I estimate a 60% chance of a recession in 2023. Continue Reading →
Category Archives: Current issues
Repeal the Jones Act
Puerto Rick is a hurricane magnet. After the last one, power was out for 928,000 residents. The island has many diesel power generators. A tanker full of diesel was moored off the coast. But it wasn’t allowed to dock. Why? The Jones Act. Continue Reading →
Banning Gas Kitchen Stoves
Some bureaucrats in the Consumer Product Safety Commission have floated a proposal to ban the sale of gas kitchen stoves. Continue Reading →
SBF, FTX, and the Law
SBF is Sam Bankman-Fried. FTX is his cryptocurrency exchange. Alameda Research is a hedge fund owned by … SBF. Sensing a pattern here. Continue Reading →
Who’s Helping Ukraine?
Who’s helping Ukraine? Using data from the Ukraine Support Tracker, I estimate aid from the U.S., the rest of the world, and non-US NATO. Continue Reading →
Two New Housing Price Indexes
Two new housing price indexes from BLS and the Cleveland Fed: New Tenant Repeat Rent Index (NTRRI) and All Tenant Repeat Rent Index (ATRRI), Continue Reading →
Rep. Dan Bishop (R-NC) Dissects the Omnibus Spending Bill
Rep. Dan Bishop dissected the “omnibus” spending bill. He highlights the worst travesties. $3.6 million for the Michelle Obama Trail? Continue Reading →
Riley Moore Reveals the Truth About ESG Funds.
The truth about ESG funds: fund managers are raking it in on all this stuff. And some funds may not live up to their own standards. Continue Reading →
Wall Street Journal Exchange Rate Fail
Wall Street Journal exchange rate fail. Ms. Feng thinks an exchange rate change from 7￥/$ to 6.9￥/$ is a ￥depreciation. That’s backwards. Continue Reading →
M1 and M2 Definitions Have Changed
The definitions of M1 and M2 changed in May, 2020. Edited September 7, 2022 to clarify that total M2 did not change because M2 includes M1. Continue Reading →