Industrial and manufacturing production down at consensus rate (-0.3% m/m for both). Core retail sales +0.1% vs. consensus +0.3% m/m. First up, series followed by the NBER’s Business Cycle Dating Committee (personal income and employment are key): Figure 1: Nonfarm...
Yves here. Due to so much competing news, we’ve been light on climate and environment coverage. Established readers may recall that Jerri-Lynn covered the war on plastics intensely. Then and now, the media reports how scientists are finding plastic in...
Yves here. Tom Neuburger looks at the failed promise of Obama as a “change” president, and questions whether Trump will manage to deliver. Will US politics devolve to increasingly tired promises of major shifts that never come about? As much...
The USMCA trade agreement, now in its fifth year of existence and up for renegotiation next year, is looking increasingly frail. This is a story we have been following fairly closely over the past couple of years, and as things...
About Lambert Strether Readers, I have had a correspondent characterize my views as realistic cynical. Let me briefly explain them. I believe in universal programs that provide concrete material benefits, especially to the working class. Medicare for All is the...
Yves here. As much as we have lambasted the CDC’s and Biden Administration performance during Covid, yours truly is not keen about the idea of RFK, Jr. as head of HHS. Even though he has some good ideas about improving...
By Lambert Strether of Corrente. Patient readers, I had a Twitter debacle, and so this is a little bit light. More soon. –lambert Bird Song of the Day Northern Mockingbird, Big Bend NP–Chisos Basin Campground, Brewster, Texas, United States. “Singing...
PPI and core PPI y/y slightly above consensus: Figure 1: Instantaneous inflation (T=12, a=4) for CPI (bold blue), PCE deflator (green), PCE market based deflator (brown), and HICP (light pink), PPI (red) per Eeckhout (2023). chartreuse dashed horizontal line at...
Yves here. Apologies again re my own posting but hopefully this BRICS piece will prove to be good grist for thought. Power was out for 7 hours, and I’d been out for some of the time and came back to...
Airlines cancel Bali flights after volcano spews ash miles into the sky Al Jazeera Climate COP29: No clear signs of peak for fossil fuel CO2 emissions, say scientists S&P Global COP29: Pay up or face climate-led disaster for humanity, warns...
