Historical Archives

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There Are 3.3 Million More Leisure/Hospitality Workers Than Manufacturing Workers

Yesterday, I wrote about the sad state of high-paying manufacturing employment where government employees now outnumber manufacturing employees by almost 100 million. With a ratio of 1.8 government workers to every manufacturing worker. But where did all those manufacturing workers go? Apparently, some of the manufacturing jobs have gone to the leisure and hospitality industry so […]

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A Pleasant Lull Before The Next Election BS Eruption

Support this blog by visiting Jim’s Patreon Page! A pleasant lull lies over the land where today fewer people labor honestly — and some labor gruelingly for too little — while a matrix of rackets sustains the illusion that our living arrangements have a future. Is Quarterback Colin Kaepernick on the minds of the millions moiling more »

The post A Pleasant Lull appeared first on KUNSTLER.

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The Fed Fiddles While The Free Market Burns

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The Greater Depression, Part 1

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Weak August Tax Collections Mean US Recession Near, Another Fed Delay

Real time withholding tax collections slumped badly in August after skyrocketing in July. The growth rate is now back to the lowest levels of the past year. As of September 1, the annual rate of change was +1% in actual, nominal terms versus the corresponding period a year ago.  That would be a negative number…

The post Lower August Tax Collections Suggest US Near Recession, Fed To Delay Again was originally published at The Wall Street Examiner. Follow the money!

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Below The August Jobs Headline----Even More Weakness

In the technical notes for the Employment Situation Report, the payroll numbers that everyone obsesses over in fine detail, the BLS still shows a 90% confidence interval at 1.6 standard deviations that works out to +/- 115k. That means that whatever number gets splashed onto every headline and worked into every major commentary piece isn’t...

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Economic Slowing----- Jobs Now, Autos Next

If the labor market were slowing as the wider perspective of the payroll reports suggest, then it would make sense to find increasing difficulties even among the few bright spots in this otherwise anemic economy. Yesterday and earlier it was reported increasing signs of slowing in real estate, both construction and resales of homes (particularly...

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Slowing And Even Contracting------Hours And Earnings

The primary symptom of the economic malaise or depression that has developed since the Great Recession (which wasn’t a recession) is an economy that works less and thus earns less. Such a condition would suggest a shrunken system or at least vastly diminished potential. That much is well-established even in the orthodox literature though it...

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Negative Interest Rates and the War on Cash, Part 1

Irving Underhill City Bank-Farmers Trust Building, William & Beaver streets, NYC 1931     It’s been a while, but Nicole Foss is back at the Automatic Earth -which makes me very happy-, and for good measure, she starts out with a very long article. So long in fact that we have decided to turn it

The post Negative Interest Rates and the War on Cash (1) appeared first on The Automatic Earth.

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Stanley Fischer's Low Rate Humbuggery

Federal Reserve Vice-Chairman Stanley Fischer made a couple of controversial statements this week regarding negative interest rates. Fisher stated negative …

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