Suppressing Interest Rates and Life

I was fortune to study economics under Murray Rothbard. Quite an experience. Then again, so was studying philosophy under Leonard Peikoff. Also quite an experience. And, serving as a commissioned officer in the US Navy under Admiral Hyman G. Rickover. THAT was an experience. These three guys had a lot in common. I got smackedContinue reading “Suppressing Interest Rates and Life”

See Much of a Trend?

The BLS jobs report shows a trend that’s years from a recovery. Total nonfarm payroll employment up 916,000 in March, and the unemployment rate edged down to 6.0 percent. But when you unpack things, it’s a bit squishy. The 916K was led by gains in leisure and hospitality, public and private education, and construction. LeisureContinue reading “See Much of a Trend?”

Job Jolts – Welcome to the Sock Puppet Era

ZeroHedge: https://www.zerohedge.com/economics/hiring-crashed-december-despite-jump-job-openings Meanwhile, after a positive month for hiring in November, when 5.935MM people were hired, in December the pace of hiring crashed, plunging to just 5.539MM, a drop of 396K for the month after a 23K increase in November. The coincides and validates the 227K drop in payrolls on December, the first contraction sinceContinue reading “Job Jolts – Welcome to the Sock Puppet Era”

Oligarchy and Decapitalization

Charles Hugh Smith: http://charleshughsmith.blogspot.com/2021/02/the-top-10-is-doing-just-fine-middle.html The Top 10% Is Doing Just Fine, The Middle Class Is Dying on the Vine I’ve been covering the decline of America’s middle class for over a decade with charts, data and commentary on the social depression that has accompanied the decline. While there are many mutually reinforcing dynamics in this 45-year decline–demographics, globalContinue reading “Oligarchy and Decapitalization”

Buddy Can You Spare a Dime

Surged last week by the most since late March – up 181K to 965K in the week ended January 9. Unadjusted, the total is up 1.15 million. Caught analysts by surprise – nobody saw the claim uptick coming. https://www.bloomberg.com/news/articles/2021-01-14/u-s-jobless-claims-jump-by-most-since-march-approach-1-million?srnd=premium

20 million Americans Jobless

20 million at the end of 2020 compared to 2 million at the end of 2019. And that doesn’t count those who were pushed out of the workforce by US deficit spending and open border policies. California (and New York) top the states with the biggest increase in jobless claims (as lockdowns accelerated). https://www.zerohedge.com/personal-finance/2020-ends-around-20-million-americans-still-jobless-benefits