giant sucking sound

Did China Really Win, or Did Everyone Lose?

By |2018-04-02T16:05:00+00:00April 2nd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Of all the economic accounts where last year’s big tropical storms would have had the greatest impact, any substantial boost in construction spending made the most sense. What is destroyed is most often quickly rebuilt, particularly in the public arena. One of the core functions of local government is infrastructure, and no local politician can [...]

Payrolls Hit The Trifecta of Awful

By |2018-01-05T12:30:22+00:00January 5th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Last year was an objectively bad year for American workers. The latest payroll figures from the BLS for December 2017 fill out what was an awful picture. According to its Establishment Survey, the data that’s taken as the definitive source on the US labor market, total payrolls expanded by 2.055 million in 2017. That annual [...]

Giant Sucking Sound Sucks (Far) More Than US Industry Now

By |2017-12-05T18:22:44+00:00December 5th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

There are two possibilities with regard to stubbornly weak US imports in 2017. The first is the more obvious, meaning that the domestic goods economy despite its upturn last year isn’t actually doing anything positive other than no longer being in contraction. The second would be tremendously helpful given the circumstances of American labor in [...]

Factories Or Money?

By |2017-01-06T17:17:01+00:00January 6th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

There are a few parts of the payroll reports that do make sense without requiring alternative interpretation. Among these face value statistics is the estimate for manufacturing payrolls. The BLS figures that employment in the manufacturing sector peaked in July 2015 and has been declining ever so gently since then. Total job losses are just [...]

The Effects Of Money On Trade

By |2016-09-27T12:04:05+00:00September 27th, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

There can be little doubt now outside of orthodox economics that the global economy is actually slowing, not accelerating as has been predicted. Economists themselves, however, continue to claim that things are getting better when the data strongly suggests otherwise. The latest depressing figures are from a pair of (orthodox) supranational organizations. First, the World [...]

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