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Showing posts with the label economy

Inflation

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UPDATED #INFLATION ANALYSIS - We note the Biden Administration now expects consumer prices to rise 4.8% in the fourth quarter of 2021. This follows July's 5.4% increase in consumer prices in advance of the Fed’s Jackson Hole conference. Our analysis suggests that the inflation spike is due to fear and greed-based labor and supply chain disruptions resulting from the unprecedented and ongoing COVID crisis. Thus, price increases are to be expected. The current pandemic is not fully comparable to earlier ones, given technology's role in facilitating the highly integrated nature of the global economy and the decline in ethical standards of business behavior, as evidenced by the prior occupant of the White House. The Fed is right to focus on inequality, now the greater risk, than it is on protecting the financial standing of a small group of mainly non-minority individuals and institutions. Given the above, we suggest the central bank modify monetary policy to resist price increase

Economic and Social Costs of "Reopening"​ America

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A sking "mainstream" economists about reopening the economy in the face of the current crisis is unlikely to generate useful advice. These are the same people who missed the 2008 financial crisis (page 6, top) and were unable to predict the election of Donald Trump in 2016. An independent view on the economic impacts of the Coronavirus, informed by relevant insight from American history – in this case, Black Wall Street/Tulsa, Oklahoma, may better explain the exact nature of the problem the country now faces. The Greenwood District in Tulsa, Oklahoma was one of the most prominent concentrations of African-American businesses in the United States. It was razed to the ground in the Tulsa race massacre of 1921, in which white residents massacred as many as 300 black residents, injuring hundreds more. Our analysis starts by comparing the economic devastation wrought by this incident to that of the coronavirus, since, like the virus, business properties were rendered uni

Federal Reserve Banks show economic activity increased

Quick summary of the US economy: Overall Activity: + Consumer Spending: + Tourism: + Advertising: + Transportation: + Manufacturing: + Housing: Flat Loans: + Ag: mixed Wages: Flat Prices: Flat