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- Real wages for nonsupervisory employees make 19 month low, but no recession signaled
- Today’s lesson: never simply project the current trend forward
- Marx’s “most realistic… most amazing insight!”
- Review of “Lenin: A Biography”
- Open thread March 15, 2022
- The Restructuring of Sovereign Debt
- Censoring for me, but not for thee
- Russian logistics
| Real wages for nonsupervisory employees make 19 month low, but no recession signaled Posted: 16 Mar 2022 05:11 AM PDT Real wages for nonsupervisory employees make 19 month low, but no recession signaled Yesterday's CPI report showed that prices increased 0.8% in February. Meanwhile, the jobs report indicated that average hourly wages for nonsupervisory workers increased 0.3%, so real hourly wages declined -0.5% for the month: As shown in the above graph, real wages had […] The post Real wages for nonsupervisory employees make 19 month low, but no recession signaled appeared first on Angry Bear.  |
| Today’s lesson: never simply project the current trend forward Posted: 16 Mar 2022 05:05 AM PDT Today's lesson: never simply project the current trend forward An important reason why I am so insistent on dividing data into long leading, short leading, and coincident indicators is in order to avoid the most common pitfall in any forecasting, which is that of projecting the current trend forward. This morning PPI for February was […] The post Today's lesson: never simply project the current trend forward appeared first on Angry Bear. |
| Marx’s “most realistic… most amazing insight!” Posted: 16 Mar 2022 03:35 AM PDT Marx’s “most realistic… most amazing insight!” In his farewell lecture at Brandeis University, “Obsolescence of Socialism,” Herbert Marcuse quoted a passage from the Grundrisse and claimed that in Capital, Marx had “repressed this vision, which now appears as his most realistic, his most amazing insight!” As large-scale industry advances, the creation of real wealth depends increasingly less on […] The post Marx’s “most realistic… most amazing insight!” appeared first on Angry Bear. |
| Review of “Lenin: A Biography” Posted: 16 Mar 2022 03:33 AM PDT I just finished Robert Service's biography of Lenin. The "Marxism" of Lenin was not Marxist at all. Classical Marxism holds that capitalism must achieve a high level of industrialization before the workers can overturn the landlords and factory owners and collectivize the fruits of labor for the benefit of workers. Like Mao, Lenin retrofitted socialist […] The post Review of "Lenin: A Biography" appeared first on Angry Bear. |
| Posted: 15 Mar 2022 05:05 AM PDT The post Open thread March 15, 2022 appeared first on Angry Bear. |
| The Restructuring of Sovereign Debt Posted: 15 Mar 2022 05:02 AM PDT by Joseph Joyce The Restructuring of Sovereign Debt The economic repercussions of Russia's invasion of Ukraine will be devastating for many countries that have yet to recover from the pandemic. Higher prices for commodities, particularly energy and food, will increase inflation rates and widen trade deficits for those nations that import those items. Increases in […] The post The Restructuring of Sovereign Debt appeared first on Angry Bear. |
| Censoring for me, but not for thee Posted: 15 Mar 2022 04:30 AM PDT Jay Battacharya and Martin Kulldorff, two of the authors of the Great Barrington Declaration, have been whining for months about how unfairly they have been treated, how they have been criticized and even censored for their views on COVID policy. Yet now, at the Brownstone Institute, that illustrious citadel of liberal freedom, we find them […] The post Censoring for me, but not for thee appeared first on Angry Bear. |
| Posted: 15 Mar 2022 04:23 AM PDT I should stop posting about Ukraine, since I have no expertise and not much ability to judge the credibility of things I read. But I keep reading and want to share some twitter threads about Russian logistics that I found interesting. I had assumed that the Russians would eventually get their logistics problems more or […] The post Russian logistics appeared first on Angry Bear. |
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