(((Alan Tonelson)))

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#China's #yuan devaluation vs the #USD continues. Weakens the midpoint above 6.7 for the first time since Nov. 3, 2020. Now down 6.54% vs the #dollar since March 1: chinamoney.com.cn/english/bmkcpr/ #forex #fx #currency #manipulation
ICYMI, my new #RealityChek post reports on new official US data showing that US #workers' surging pay definitely is helping fuel #inflation: alantonelson.wordpress.com/2022/05/09/wha… #economy #wages #productivity #FederalReserve #workers
Key observation from @JeffCoxCNBCcom: "Through the end of 2021, the share of [US] household #wealth that comes from directly or indirectly held #stocks hit a record 41.9%, more than double where it was 30 years ago....": cnbc.com/2022/05/09/the… #StockMarket #economy #finance
.@Tish_H_Warren My post below was snarkier than the views of the #prolifeactivists you interviewed. But the #wholelife policy proposals offered in the 2d half overlap substantially (and encouragingly) w/theirs: nytimes.com/2022/05/08/opi… #abortion #RoeVWade #mothers #families
Important & welcome statement from #Psaki since these leaks were clearly portraying the US as a quasi-belligerent, & initially looked like official efforts to pave the way for greatly escalated & dangerous US military involvement in #Ukraine: thehill.com/policy/defense… #WW3?
Interesting progress report in the 2d half of this post on commercial #space-based #cellphone service: eetimes.com/teslas-pi-in-t… #tech #innovation #telecommunications #ICT
US "Median expectations for where #inflation will be in one year fell 0.3 percentage point to 6.3%, while they increased to 3.9%, a rise of 0.2 percentage point, over a three-year outlook": reuters.com/business/us-co… #economy #prices #consumers #CostOfLivingCrisis
More nonsense on the lack of #immigrants dangerously juicing US #wages in sectors like #agriculture, #construction, & low-pay #services - all of which have long used cheap foreign labor to avoid #productivity-boosting improvements: apnews.com/article/immigr… #economy #iimmigration
Their growing role "underscores the growing technical expertise of #China’s workforce, honed over decades as #Apple & other foreign companies have trained generations of engineers & technicians." And no #defense implications of course! wsj.com/articles/apple… #tech #FeedtheBeast
Something awfully strange: "The suspected shooter, 29-year-old Lawrence Dority, remained on the scene and cooperated with authorities. Dority was arrested on a charge of first-degree murder": nypost.com/2022/05/09/ex-… #AdreianPayne #NBA #RIP #sports
(What’s Left of) Our Economy: More Evidence that Pay Really is Worsening U.S. Inflation alantonelson.wordpress.com/2022/05/09/wha…
The @AtlantaFed's closely followed US #GDP forecast for the second quarter dips to 1.8% growth after #inflation at annual rates. And this series was over-optimistic about the first quarter: atlantafed.org/cqer/research/… #economy #BidenBoom? #recession?
Good for influential #progressive @ezraklein for calling attention to the dangers posed by the presence in the US of #China entity-owned (and therefore #Beijing-controlled) #TikTok: nytimes.com/2022/05/08/opi… #ByteDance #privacy #dictatorship #socialmedia #BigTech #KickitOut
Really interesting & important question posed by @hiltzikm: Would the end of #RoeVWade prompt many #businesses to return to high #tax and high #regulation but #prochoice states like #California? latimes.com/business/story… #abortionrights #privacy #economy
ICYMI, last night EST #China weakened the #yuan midpoint vs the #USD by another huge 0.85% d/d. No at lowest since Nov. 5, 2020. And down 6.26% since latest (March 3,2022) high: chinamoney.com.cn/english/bmkcpr/ #currency #forex #fx #currencymanipulation?
Many key details in @GavinBade's big piece on #Biden #trade policy's evolution. But are there really any #China "hawks" in his admin. Plus, his #supplychain plans define as trusted suppliers dozens of countries that weren't at the #pandemic's height: politico.com/news/2022/05/0…
According to this reviewer, "an aggressive, zero-tolerance policy against #crime" in the US has been a "quasi-authoritarian tool" in historian @glgerstle's view: washingtonpost.com/outlook/2022/0… #SMH #neoliberalisme #history?
ICYMI, my new #RealityChek post presents the evidence that a major Congressional effort to boost America's global #tech #competitiveness cd well undermine the current US tech #workforce: alantonelson.wordpress.com/2022/05/07/wha… #immigration #visas #laborshortage? #STEM #Congress #semiconductors
(What’s Left of) Our Economy: Will the Tech Competitiveness Bill Shaft American Tech Workers? alantonelson.wordpress.com/2022/05/07/wha…
Much evidence here that the US "#solar industry" (which mainly installs #China-manufactured panels), many top #Biden officials, & #climate activists are OK with the US' #cleanenergy future being #MadeinChina: washingtonpost.com/business/2022/… #trade #solarpanels #solarcells #ClimateAction
ICYMI, some data crucial to the #politics of #abortion if #RoeOverturned: US rate peaked in 1981 (29.3/1K #women. Latest (2019)? 11.4/1K. Said due to more #birthcontrol access. Has reduced overall salience? usatoday.com/story/news/hea… & nytimes.com/2022/05/06/us/… #Midterms2022
Good for @MinneapolisFed head #Kashkari for making a detailed case that #Fed moves plus forward guidance will be enough #monetarypolicy tightening. But long-term #interestrates are still very low compared with historical levels - as his own data show: medium.com/@neelkashkari/…
As I've tweeted previously, what on earth is there to talk about? Either #China entities on US #stockmarkets comply w/every syllable of the rules required for all other listings, or they're out at the deadline date: reuters.com/business/exclu… #regulation #WallStreet #transparency
ICYMI, my new #RealityChek post explains that the big takeaway from the new US #manufacturing #jobs figures (for April) is that the worse the #economy- & even #Ukaine-related news gets, the more US #industry apparently hires: alantonelson.wordpress.com/2022/05/06/wha… #NFP #economy #BidenBoom?
Just 1 (early post-leak) poll, but esp interesting: "V]oters who say overturning [#RoeVWade] wd make them 'happy' are nearly twice as enthusiastic about voting this fall as those who say such a ruling wd leave them 'angry'....": cnn.com/2022/05/06/pol… #Midterms #abortion
"More than 100 House & Senate lawmakers have been named to a 'conference committee' that will meet for the 1st time Thursday....Aides say it cd still take months before...agreement is reached." The 2 "#China #tech" bills were introduced in June, 2020: reuters.com/world/us/us-la… 🙄
(What’s Left of) Our Economy: U.S. Manufacturing Job Creation Gains More Momentum alantonelson.wordpress.com/2022/05/06/wha…
It's the highest on record. And the data is pre-#CCPVirus, meaning that it's probably risen higher still: apnews.com/article/health… #births #motherhood #families #parenting #population #children #childbirth #fertility
"#China’s Ministry of Commerce last month acknowledged that the #sanctions have disrupted China’s trade with #Russia." And by definition that includes US threats to punish non-compliance: wsj.com/articles/chine… #tech #Obey
But the tactical & theater-range #nuke threat is still taken seriously by the US - which is encouraging, since their use could well escalate to the strategic level: ft.com/content/41fc6e… #Ukraine #UkraineRussiaWar #Russia #nuclearweapons #nationalsecurity
#Kashkari's estimate of 2% as the US neutral #interestrate level supports the #secularstagnation thesis - which holds that the US #economy can't generate satisfactory growth w/o historically #easymoney: reuters.com/business/finan…. #inflation #monetarypolicy #Fed
Maybe not much of a bounce, but as of this AM, the @RealClearNews avg shows #Biden's approval ratings closer to break-even (-10.2 pps) than at any time since 3/15 (-9.7 pps). Will the #SCOTUS #RoeVsWade draft spur more improvement? realclearpolitics.com/epolls/other/p… #politics #midterms
US #manufacturing gained 55K #jobs on month in April - best since last July's 62K. Revisions strongly positive. Details TK at #RealityChek: alantonelson.wordpress.com #NFP #economy #employment #recession? #BidenBoom?
2/2 "Shoddy boys’ schools are turning out insecure young men who are more likely to feel that their livelihoods depend on keeping better-educated women out of work."
1/2 "Across the #Arab world, #girls are less likely than #boys to be at #school. But in the classroom girls vastly outperform their male peers—to a degree unmatched anywhere else in the world....": economist.com/middle-east-an… #MiddleEast #education #women
Soft data to be sure, but it shows #China's #services sector in deep and deepening contraction for 2 straight months: cnn.com/2022/05/05/eco… #economy #ZeroCovid #winning?
"The commitment...will be reaffirmed in light of #NorthKorea's continued destabilizing actions in the region, incl the test-launch of multiple [#ICBMs]," Press Secretary Jen #Psaki told a press briefing." Left unsaid: These #missiles cd soon hit the US: english.kyodonews.net/news/2022/05/2…
Following Up: Podcast Now On-Line of Last Night’s National Radio Interview on Manufacturing & China Defeatism alantonelson.wordpress.com/2022/05/05/fol…
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