Yves here. For your long holiday weekend reading, we have a tour de force in the form of a Robinson Erhardt talk with Michael Hudson. This edited version of his interview comes close to being an overview of his work...
Schrödinger’s Neighbor Says Thought Experiment Very Interesting But He’d Really Just Like A Straight Answer On Where His Cat Is Babylon Bee (Li) A spirit so good people are smuggling it in suitcases BBC (Robin K) What Can We Learn...
Yves here. Richard Murphy gives a good, compact treatment of some of the inherent limits of AI, particularly in professions (he focuses on accountancy and tax but the same arguments apply to medicine and law). A big one, which I...
M/M Core PCE inflation at consensus. Figure 1: Instantaneous inflation for core CPI (blue), chained core CPI (tan), supercore CPI (pink), PPI core (red), and PCE core (green), per Eeckhout (2023), T=12, a=4. Red dashed line at 2% target. Source: BLS, BEA,...
Recall the preliminary benchmark deduced 818K from the March NFP reading. Figure 1: Level of nonfarm payroll employment from CES (blue), implied from CES preliminary benchmark (red), from Philadelphia early benchmark (tan), Goldman Sachs estimate of preliminary revision (light blue). Early...
July nominal consumption growth at consensus (+0.5%). Month-on-Month annualized real consumption growth at 4.5%, with June revised up from 2.6% to 3.2%. Moreover, annualized personal income ex-transfers grew 1.9% in July. Here is a snapshot of some key indicators followed...
By Lambert Strether of Corrente Have a good Labor Day, everyone! Bird Song of the Day Catbirds are in the Mimidae specie (!), like mockingbird and thrashers. Readers have said they like the mimicry, so hopefully MacCaulay Library has enough...
This is one generational trend I wasn’t expecting. In my reporting on the Global War on Cash, I have consistently cautioned that cash, as a payment method, has some big generational trends stacked against it. For example, in a 2017...
Feed your fish remotely with this Raspberry Pi-powered feeding system Tom’s Hardware Appliance and Tractor Companies Lobby Against Giving the Military the Right to Repair 404 Media Climate How Global Capital Killed Climate Science George Tsakraklides Carbon emissions from the...
Yves here. We’ve posting an article from US propaganda information outlet RFE/RFL below as a critical thinking exercise. The piece does wind up highlighting how US the US idea of diplomacy seems to equate to coercion. The US imposed yet...
