BLS

The Warren Buffett Economy: How Central-Bank-Enabled Financialization Divided America

Needless to say, the above outlandish graph does not capture capitalism at work. Nor did the speculators who surfed upon this $45 trillion bubble harvest their monumental windfalls owing to investment genius. Instead, it is the perverted fruit of Bubble Finance, and there is no better illustration of this bubble surfer syndrome than the sainted Warren Buffett.

"Jobs Data Nowhere As Strong As Headline" - Analysts Throw Up On Today's Seasonal Adjustment

According to MUFG strategist John Herrmann, the "jobs headline overstates" strength of payrolls. He adds that the unadjusted data show a “middling report” that’s “nowhere as strong as the headline" and adds that private payrolls unadjusted +85k in July vs seasonally adjusted +217k. He believes that the government used a "very benign seasonal adjustment factor upon private payrolls to transform a soft private payroll gain into a strong gain."

No High School Diploma? No Problem: Here Are The Best Paying Jobs For You

For those who want to join the fastest growing segment of the workforce (by educational level, or rather lack thereof), while having saved themselves the hassle of not only years of college, but also highschool, and certainly a lifetime of repaying student loans, here is what you have to look forward to: according to the BLS, these are the 35 highest paying occupations that require no formal educational attainment.

These Are The Best And Worst U.S. Cities To Own A House

For those lucky Americans who can afford to own a house instead of being stuck renting the New Normal American dream where they are prohibited from peddling fiction as their annual rent increases by 10% or more each year, here is the breakdown of the best and worst cities for home price appreciation in the U.S.

US Futures Dip, European Stocks Slide After EU Court Slams Italian Bank Bailout Plans

After a head-scratching S&P500 rally - which not even Goldman has been able to justify - pushed stocks to new all time highs with seemingly daily record highs regardless of fundamentals or geopolitical troubles, overnight US equity futures dipped modestly, tracking weak European stocks as demand for safe haven assets including U.S. Treasuries and gold rises. Asian stocks outside Japan fall. Crude oil trades near $45 a barrel. 

Empire Fed Unexpectedly Drops As New Orders Tumble, Labor Conditions Deteriorate

While recent regional Fed manufacturing indices had shown a pickup in recent weeks, moments ago the Empire Fed, aka the New York State manfucaturing index, disappointed, declining five points from 6 to 0.55, below the 5.0 expected print. The volatile series has now printed below zero, at zero, above zero, below zero, above zero and at zero over the past 6 months.

David Rosenberg: "This Is The Pain Trade"

"This is the pain trade.... When I look at valuations and I see PE multiples north of 20…I'm not going to say that the markets are in bubble territory but it's just a little too expensive for me right now."

Is The Fed Helping Robots Find Jobs?

When you buy a robot to replace a human employee, what you’re really doing is capitalizing the cost of the employee... So the real cost of a machine goes down when the cost of funds goes down. It’s a capital investment. So, when the cost of capital goes down to zero, a company with access to that cheap – or even free – money can afford to pay almost an infinite amount of money to get rid of its employees... In other words, Zero-interest-rate policy is really a full robot employment program.”

Greater Fools Have Stormed The Casino

Since last Friday’s phony jobs report the casino has become so unhinged that analysis is beside the point. It is not surprising at all that the robo-machines are now gunning for the 2200 point on the S&P 500 charts. That’s what they do. What defies explanation, however, is that the several dozen humans left on Wall Street who apparently talk to Bob Pisani are actually attempting to rationalize this “breakout” of, well, madness.

Labor Market Continues To Deteriorate: Job Openings Tumble, Fewest Hires Since 2014

It wasn't just job opening which disappointed in May: so did the far more important, in our opinion, number of hires. In May, the BLS reported that the number of total hires was only 5.036MM, the third month in a row of declines, and the lowest print since November 2014 as suddenly employers clamped down on new (seasonally-adjusted) hiring.