By Lambert Strether of Corrente. Bird Song of the Day Common Nightingale, Rio Gilão–Ponte de São Domingues, Tavira, Faro, Portugal. Come, hoatzin, the game is afoot: A bit of a dream achieved. One day in the Lower Amazon and I...
The Bureau of Economic Analysis announced today that seasonally adjusted U.S. real GDP grew at a 2.8% annual rate in the third quarter. That’s close to the long-run historical average of 3.1%. With inflation coming down, I think we now...
GDP under Bloomberg consensus of 3.0% at 2.8% (GDPNow nails it). ADP private NFP change at 233K vs. Bloomberg consensus at 110K. Figure 1: Nonfarm Payroll (NFP) employment from CES (blue), implied NFP from preliminary benchmark (bold blue), civilian employment...
Lambert here: Hard to see why “engineering” in “financial engineering” doesn’t have air quotes around it. By Wolf Richter, editor of Wolf Street. Originally published at Wolf Street. Boeing, which has booked net losses every year from 2019 on, totaling...
“An industrial economy’s decline usually provides a grab bag of opportunities for financial predators and vulture funds.” – Michael Hudson, “The Destiny of Civilization” And so it goes in Germany where the decimation of the country’s industry and its working...
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...
KLG here: Drugs known as GLP-1 Receptor Agonists (GLP-1RAs) – Ozempic, Mounjaro, Wegovy and others – are the next big thing for Big Pharma and Big Medicine. These drugs lead to weight loss by manipulating normal nutritional physiology. They were,...
Conor here: More bad news for Europe — and especially Germany — which bet big on this boondoggle to supply energy for sectors where electrification is not an option, such as in parts of industrial manufacturing. The following piece touches...
From AEI: …the US economy is indeed performing very well, and this can be seen most readily by comparing its performance with that of other advanced economies, all of whom were hit by the same pandemic shock in 2020, followed...
