• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Gallup

Tyler Durden's picture

Over 5 Million Non-Existent Jobs: How $1.3 Trillion In Student Debt Broke The "Birth/Death Adjustment" Model





One of the main reasons why the BLS has been massively overstimating job creation ever since great financial crisis, is due to the well-known birth-death adjustment, aka the CES Net Birth/Death Model, which quantitatively is shown on the chart below, has resulted in the "addition" of some 5.3 million jobs, that don't actually exist, but are merely modelled by the BLS which continues to assume the same new business creation/destruction dynamics that existed before the crisis. The is a big problem with this fundamental assumption: it is dead wrong. Here's why...

 
George Washington's picture

Government Corruption Tops List of Americans’ Fears





Most Americans Think Government Corruption is Biggest Problem

 
Tyler Durden's picture

Gallup Reveals What Americans Are Doing With Their "Gas Savings"





They are spending it on... gas.

 
Tyler Durden's picture

The High-End Consumer Is Rolling Over: Will Apple Save The Economy From A Recession This Time?





The latest BAC credit and debit card spending data is out and it is not pretty, and not just for the mid-level consumer who, as documented previously, has been tapping out ever since April as the following Gallup consumer spending chart shows but also for the high-end.

 
Tyler Durden's picture

Someone Is Lying: Consumer Confidence Is Somehow Both "Highest" And "Lowest" For The Year





According to what is arguably the most respected polling organization in the US, consumer confidence has crashed to the lowest level in a year. On the other hand, according to a tax-exempt research organization, consumer confidence is not only the highest it has been in 2015, but it practically the highest since 2007.Someone is lying, we leave it up to readers to decide who.

 
Tyler Durden's picture

Weekend Reading: Fed Confusion





The current surge in dis-inflationary pressures is not just due to the recent fall in oil prices, but rather a global epidemic of slowing economic growth. While Janet Yellen addressed this "disinflationary" wave during her post-meeting press conference, the Fed still maintains the illusion of confidence that economic growth will return shortly. Unfortunately, this has been the Fed's "Unicorn" since 2011 as annual hopes of economic recovery have failed to materialize. However, it is these ongoing views of optimism that have collided with economic realities.

 
Tyler Durden's picture

The Imperial Banana Republic: 75% Of Americans See Widespread Government Corruption





This is the sort of thing you’d expect to see in a Banana Republic. Which makes perfect sense, because America is a Banana Republic.

 
Tyler Durden's picture

Half Of Americans Think "Government Is An Immediate Threat To Liberty"





Government poses a threat to liberty, that much is clear. But what may be surprising is that almost half of Americans clearly identified government as a clear and “immediate” threat, and are obviously outraged about what is going on. It is time that Americans embrace their anger at government, and focus their attention past the politicians to the real problem. Start with the bankers, follow the money, and see where it goes...

 
Tyler Durden's picture

Destroying Dimon's Delusionary View Of Economic Realities





While Mr. Dimon's view - "Amerca has the best hand ever dealt right now." is certainly uplifting, it is a bit delusional. But of course, give any person a billion dollars and they will likely become just as detached from economic realities. Does America have "greatest hand ever dealt." The data certainly doesn't suggest such. However, that can change. We just have to stop hoping that we can magically cure a debt problem by adding more debt and then shuffling it between Central Banks.

 
Tyler Durden's picture

Vote With Your Feet: Free States Are Happier & Richer





The greater the economic freedom, the wealthier and happier the people. States with more libertarian free market policies enjoy better results: greater median incomes, a more equitable distribution, less poverty, greater success for minorities and immigrants, and higher overall levels of happiness and well-being. In the political rhetoric landscape the battle of ideology is fierce and filled with demagoguery; in the real world the difference in results between competing economic policies are strikingly clear.

 
Tyler Durden's picture

Last Thing The Fed Sees Before Its Rate Hike Decision Will Be Very Ugly





"The weakness in the August BAC data suggests a high risk for softness in the Census Bureau advance retail sales report given that the two measures trend closely. While we know that the retail sales figures are volatile and subject to revisions, it is hard to ignore a weak report." Why is all of the above particularly important? Because with the August Retail Spending report due on September 15, it will be the last report on the economy the Fed will read ahead of its "most important if not ever then surely in the past decade" FOMC meeting starting on September 16, and concluding with the 2pm announcement on September 17.

 
Tyler Durden's picture

Goldman Fears "Government Shutdown" Is Looming As Lew Urges Congress "Raise Debt Limit ASAP"





With Treasury Secretary Jack Lew sending a letter to Congress this evening demanding they raise the debt limit as soon as possible, warning that cash balances have dropped below the "minimum target," it is perhaps less than surprising that Goldman Sachs is warning that a government shutdown at the end of the month has become much more likely over the last several weeks. While out-months in VIX (beyond the prospective shutdown) remain elevated, Goldman finds a silver-lining claiming that the effect of a potential shutdown on financial markets and the real economy would probably be modest if it did occur. We shall see...

 
Tyler Durden's picture

Retail Sales Slump On Deck: Consumer Spending Slides To Lowest Since March After Worst August Since 2012





according to the latest Gallup report on US consumer spending, in which a random sample of 15.724 adults were interviewed by phone, Americans' self-reported daily spending averaged just $89 in August, down not only from August in 2014 and 2013 but the fourth month in a row of year-over-year spending declines, as well as was also the lowest monthly spend since March of 2015. And this time there are no "scapegoats" to blame the spending slowdown on: the weather in August was uniformly gorgeous around the US.

 
Tyler Durden's picture

Two-Thirds Of Greeks Say Adopting Euro Has Not Benefited Country





Five years of austerity, higher taxes, deep cuts in public spending, record suicide rates, and homelessness beyond anyone's worst forecasts... is it any wonder that, as Gallup reports, a majority of adults in the country - 55% - said in a poll that they think converting from the Greek drachma to the euro in 2001 has harmed Greece.

 
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