Law professor Eric Segall is a leading critic of the Supreme Court.  In a blog post today, he doesn’t pull any punches: The disaster that wasthe Trump v. United States oral argument reminded me of how little the Roberts Court has actually cared about rule of law values and legal transparency during its 18-year run. Leaving aside […]

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Dahlia Lithwick and Joseph Stern as taken from Slate Good read as one can see how the SCOTUS 5 or 6 are twisting the logic of Constitution first and then the president into something more reasonable. Military swears first to the Constitution. This is a very strange read for myself. Others may not find it […]

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Do you, does anyone, really believe trump gives a damn if he is fined $9,000? That is not a threat to him. And what jail cell, in what jail will they put this threatening president in? I know one county jail, Cook County Jail in Chicago. Let him mingle with the general population. Let him […]

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by Steve Hutkins Save The Post Office USPS: For those who are wondering, DFA is “Delivering for America.” It consists of various initiatives, some of which have been initiated and some which have not. The initiatives are found in the Table of Contents on Page 1 listed as Strategies in the Delivering for America document. […]

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 – by New Deal democrat The Bonddad Blog Our final housing statistics of the month are the FHFA and Case Shiller repeat sales indexes. As usual, keep in mind that mortgage rates lead home sales, which in turn lead prices. Which, in turn, lead the official CPI measure of shelter by a year or more. […]

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JPMorgan Remains the Second Largest Money Market Fund Manager, Despite Needing Billions in Money Market Bailouts from the Fed in 2020

By Pam Martens and Russ Martens: April 30, 2024 ~ The Office of Financial Research (OFR), the federal agency created after the financial crash of 2008 to keep federal banking regulators on top of threats to financial stability, has posted an interactive chart showing the largest managers of Money Market Mutual Funds in the U.S. Alarmingly, the parent of the largest and riskiest bank in the United States – JPMorgan Chase – is also the second largest Money Market Mutual Fund manager. According to the OFR, as of March 31, 2024, JPMorgan was managing $657.9 billion in money market funds, second only to Fidelity, which on the same date was managing $1.3 trillion in money market funds. The data comes from Securities and Exchange Commission Form N-MFP2. JPMorgan’s federal regulators have failed to stem the bank’s growth despite the fact that JPMorgan Chase has been tapping massive bailouts from the Federal … Continue reading →

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By Les Leopold Chelsea Green Publishing Interesting book I just started to touch upon. Book review by Paul Prescod. Last section touches upon why layoffs may happen . . . Stock Buybacks and Deregulation. Across the political spectrum, it seems as if the right to decent employment has disappeared from the agenda. Wars, natural disasters, […]

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This is the easiest one. No possibility of changes. It’s Biden/Harris v. Trump/Sycophant. For Biden, the alternative is clear: the race would be between Kamala Harris and DJT. Credit where due: Biden has reconfirmed on multiple occasions that he does not intend to replace Harris with Sherrod Brown the Mythical Generic Democrat with No Baggage, […]

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 – by New Deal democrat The Bonddad Blog About 10 years ago, I went looking for what I called “mid cycle indicators.” In other words, I wanted to go beyond leading or lagging indicators to find at least a few that tend to peak somewhere near the middle of an expansion. That synapse was jangled […]

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 – by New Deal democrat The Bonddad Blog On Friday the CDC updated its COVID death statistics through March 31, which means that we now have 4 full years of data. It also updated its hospitalization data through April 20, and to cut to the chase, last week saw a record low hospitalizations for COVID […]

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The First Bank Failure of 2024 Leaves a 1-Cent Stock for Investors and $667 Million in Losses for the FDIC

By Pam Martens and Russ Martens: April 29, 2024 ~ Quietly on Friday, the FDIC announced the first federally-insured bank failure of 2024, the publicly-traded Republic First Bancorp (ticker FRBK) which did business as Republic Bank. In an unsettling sign of the times, this federally-insured bank was trading at 1-cent on Friday; down from 27-1/2 cents last September when we first reported on its dire condition. Do Americans really want to see a bank that’s holding their life savings to be trading as a penny stock? Yes, it’s true that no depositor has lost a penny in a federally-insured bank since the creation of federal deposit insurance in 1933 if they remained under the federal insurance cap on deposits. Currently, that insurance cap is $250,000 per depositor, per bank. But still, public confidence in the safety and soundness of the U.S. banking system would suggest that the phrases penny stock and … Continue reading →

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Matteo Wong The Atlantic Abbreviated take at Angry Bear on what is happening at Tesla. Presently, the media has not been to kind to Tesla and its founder Elon Musk. The latest in The Atlantic gives a run down on the past and where Musk may take Tesla in the future. It sounds and looks […]

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SWI swissinfo.ch An interesting story coming out of Switzerland about Nestlé. In 2017 Nestlé adds sugar to baby food in low-income countries, report finds . . . made the following plan: Between 2017 and 2020 we want to reduce the added sugar in our products by a further 5%. In 2017 alone, Nestlé Switzerland withdrew […]

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At Thursday’s Supreme Court hearing on Trump’s immunity claim, Justice Alito worried that prosecuting former presidents would create an incentive for incumbent presidents to subvert democracy to remain in office and avoid prosecution (Transcript, p. 110-11): JUSTICE ALITO: All right.  Let me end –end with just a question about what is required for the functioning […]

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by Matthew Cunnigham – Cook The problems with Medicare Advantage is coding and pricing for care. And Fee for Service participants pay for the MA costs even though they do not use MA. “When accounting for favorable selection of enrollees in MA and higher MA coding intensity, we estimate Medicare spends approximately 22 percent more […]

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by Lloyd Alter Carbon Upfront! The Toronto Star leads today with a story, “Ripe for a challenge,” in which climate change reporter Kate Allen describes attempts to grow strawberries indoors in Canada “as red-ripe and juicy as if they came out of a sunny field in July.” Canadians import C$6.2 billion more fresh and frozen […]

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Oddly I am back here posting. Even more oddly I am posting on the topic I am paid to address. I start by noting two things. About one year ago, many macroeconomic forecasters predicted that a recession would have started by now in the USA. I forget who placed the probability at 100%. In spite […]

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Listening to the back and forth between the justices and Idaho’s Solicitor General, there is tension on display here. The Idaho Solicitor General appears to take the stance the abortion is available if necessary. The justices are questioning how such could be if doctors will not treat the women if abortion is needed. That being, […]

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 – by New Deal democrat The Bonddad Blog My “Weekly Indicators” post is up at Seeking Alpha. Not much churn in the short leading or coincident timeframes this week. But one of the long leading indicators joined the “less bad” parade. This is what I would expect to see coming out of a recession, before growth […]

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You gotta be old enough to remember what took place in the sixties and into the seventies with regard to protesting. In 1970 when I was bathing in and drinking the Camp Lejeune water, we were selected to be trained in riot control. JIC the protestors, the student protesters were a bit rambunctious in Washington […]

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