Bureau of Labor Statistics

How The FOMC Became Institutionally Corrupt

For the FOMC to reach its mandate of full employment they boost stock prices which then creates employment in bubble jobs. When people feel rich, they spend more money on the low quality bubble jobs, and hence employment reacts accordingly. This is obviously entirely unsustainable as spending paid for by feelings manipulated by the FOMC accounts to nothing more than pure capital consumption, and the money flow will disappear as soon as the FOMC tighten the screw and the good feeling disappears along with the stock market gains.

Draghi Voices "Unprecedented Doubt" Greek Solution Will Be Found: Complete Greek Overnight Summary

In an odd escalation over the Grexit fiasco, where Greece is now expected to provide yet another detailed reform proposal today by midnight at the very latest, it was the one man whose decision will make or break the Eurozone when (if) he decides to impose even more ELA collateral haircuts (or yank ELA entirely) forcing Greece to Grexit by imposing its own currency (since there is no legal mechanism to kick a nation out of the new Berlin Wall) that made some surprisingly candid comments on the fate of the Greek negotiations. According to Reuters, ECB president Mario Draghi voiced "unprecedented doubts about the chances of rescuing Greece from bankruptcy as Greek Prime Minister Alexis Tsipras was due to put forward last-ditch reform proposals on Thursday."

"Off The Grid" Indicators Suggest US Economy Not Ready For 'Liftoff'

Every quarter ConvergEx's Nick Colas reviews a raft of unusual and less examined datasets with an eye to refining and adding perspective to the more traditional macroeconomic analyses. This quarter’s assessment of everything from large pickup truck and firearms sales to Google search autofills for “I want to buy/sell” shows a U.S. economy that is reasonably strong but growing only very slowly. The chief areas of concern: Food Stamp participation is still very high at 45.6 million Americans (14% of the total population) and indicators like used car prices and large pickup sales are flat.

American Babies Are No Longer Mostly White

"Racial and ethnic minorities now surpass non-Hispanic whites as the largest group of American children under 5 years old, the Census Bureau said Thursday. The demographic rise of minorities comes at a time when heightened racial tensions make headlines from St. Louis to Charleston, South Carolina, and as minorities lag in education, earnings and labor market outcomes."

The Coming US Recession Charted

The idea of an imminent US recession may seem moot as all the self-proclaimed experts and talking heads still acts as we are well into a recovery and patiently waiting for the forthcoming escape velocity which will take care of all ills plaguing today’s over-indebted society. Never do they stop to think about why things looks as dismal as they do. The sheer scale of the backwardness shown in such gross economic illiteracy suggest to us there is ulterior motives behind so-called Keynesian economic theories. Comparing GDP with cumulative goods sold and inventory accumulation since 2000 should tell you everything you need to know. The US economy is now on the verge of a new recession.

What's The Real Unemployment Rate In The US?

Officially, the unemployment rate in the U.S. is 5.6%, meaning 5.6% of the work force is temporarily out of a job and actively seeking another one. But these do not feel like good times for most households, despite the low unemployment rate. By our reckoning, roughly 60% of the civilian work force is fully employed and 40% are marginally employed or unemployed.

GoldCore's picture

Deutsche Bank’s derivatives position is truly enormous. It was recently estimated to be around $54 trillion. Germany's GDP, the 4th largest in the world, was a mere $3.64 trillion in 2015. Were Deutsche Bank caught off-side in its derivatives positions there is not a government or institution on earth that could bail it out and it could lead to contagion in the German financial system and indeed in the global financial system.

This Is What Happens When A Millennial Tries To Get A Job

Heavily-indebted millennials are quickly finding out what it means to enter the job market during the "waiter and bartender recovery" as recent graduates with advanced degrees opt for serving tables and pouring drinks thanks to poor employment prospects. “You’re like, ‘I’ll do anything and apply for everything, but usually it’s an electronic filing and you’re spending all your time on it and never hear back. So far, I have applied for around 30 jobs, if not more, and have heard back on two of them."

When The Current Housing Bubble Finally Bursts

This psychology of mass delusion now dominates housing, stocks and bonds: not only is this not a bubble, the expansion will continue forever. History, however, suggests otherwise: all bubbles burst, period.

Are Stocks & Bonds Due For A "Generational" 75% Crash?

From the point of view of history, a reversion to generational lows is inevitable, and a valuation level around 50% of GDP for stocks is a fair target. This implies a 75% decline in both stocks and bonds within the next decade, if not sooner.

Paul Craig Roberts: Economic Disinformation Keeps Financial Markets Up

As we have pointed out for a number of years, according to the payroll jobs reports, the complexion of the US labor force is that of a Third World country. Most of the jobs created are lowly paid domestic services. No economist should ever have accepted the claim that the economy was in recovery while participation in the labor force was declining. Having looked at the actual details of the payroll jobs report, which are seldom if ever reported in the financial media, let’s look at what else goes unreported in the media.

Free Trade Is Plutocratic Propaganda

In 2003, Kevin Flanagan was an information technology employee at Bank of America. They told him he was being replaced with foreign labor, and he was ordered to train his replacement. After he completed his assignment, he was laid off. Then he went to the parking lot and shot himselfThat's "free trade."

Repatriation Of Gold From Fed Suggests Historic Vote Of No Confidence

Since 2012, there’s been an unprecedented call from foreign nations to repatriate their gold from Federal Reserve vaults in the U.S. This is an incredible development given many countries’ 71-year reliance on the Fed as a custodian for their bullion. Something huge must of happened in the last few years to prompt such action. That something may be a break in foreign gold holders’ trust in the Fed as a custodian of their precious metals.