In response to recent claims by the Obama administration and others that “millions of jobs” have recently been created We 'skeptically' examined the data to see if the claims were true. It turns out that job growth since the 2008 recession has actually been quite weak, and hardly something to boast about. Nevertheless, our conclusions from these analyses tend to rest on the idea that job growth is synonymous with gains in wealth and economic prosperity. But is that a good assumption?
While the final revision to Q4 2015 GDP was so irrelevant it was released on a holiday when every US-based market is closed, even the futures, it is nonetheless notable that according to the BEA in the final quarter of 2015 US GDP grew 1.4%, up from the 1.0% previously reported, and higher than the 1.0% consensus estimate matching the highest Q4 GDP forecast. The final Q4 GDP print was still well below the 2.0% annualized GDP growth reported in Q3.
Dear Donald and Hillary: In around ten months, one of you will wake up as Mr. or Mrs. President. After the fabulous fun of post-inaugural balls, you will walk into the Oval Office on Saturday, January 22 and launch into your first 90 days in office. To make your job just a little more manageable, what we would like to do is take you around the world and review some of the economic realities faced by our global partners. For many of them, those realities are not pretty. And you want this job why?
- Belgium hunts 'third man' after Islamic State bombings (Reuters)
- Number of Attackers, Key Details of Brussels Assaults Remain Unclear (WSJ)
- Surviving Paris attacks suspect wants to return to 'explain himself': lawyer (Reuters)
- Brussels Suicide Bomber Slipped Terror Net (WSJ)
- Dollar rise hits commodities as Fed talks of tightening (Reuters)
Just as with Siamese twins, it’s a risky proposition for one country to have too much dependency on another.
It’s actually pretty easy. At an apt moment very soon, Trump should offer Governor Kasich the VP slot and Senator Cruz the vacant Supreme Court seat. Such a grand bargain would not only clear the primary field and quash any backroom hijacking of the nomination by the Washington GOP establishment; it would also permit each man to play his highest and best role at this great inflection point in the nation’s history.
- Oil Drops With Emerging-Market Currencies on Rig Recovery Signs (BBG)
- A plea for help - How China asked the Fed for its stock crash play book (Reuters)
- Obama to meet Raul Castro on historic Cuba trip (Reuters)
- Wall Street's Pile of Unwanted Treasuries Exposes Market Cracks (BBG)
- Dimon's Timing Looks Savvier by the Day as Equities Rebound (BBG)
Over the past decade, we've been told that inflation has been tame -- actually below the target the Federal Reserve would like to see. But if that's true, then why does the average household find it harder and harder to get by? The ugly reality is that the true annual cost of living is far outpacing the government's reported inflation rate. By nearly 10x in many parts of the country.
Donald Trump has proposed a 35% import tax on goods from Mexico and a 45% tax on goods imported from China. If implemented, it would be a disaster for American consumers, Tom Donohue says.
- Dow's Freakish Bounce Makes Investors Whole, Can't Erase Doubts (BBG)
- R.I.P. Dollar Rally as Dovish Fed Spurs Worst Slump Since 2011 (BBG)
- Global Currencies Soar, Defying Central Bankers (WSJ)
- Oil hits 2016 high above $42 on production and demand outlook (Reuters)
- The U.S. Is Exporting Its Oil Everywhere (BBG)
- Hillary Clinton’s Allies Launch Plan to Undercut Donald Trump Now (WSJ)
The future of America's energy policies will heavily depend on who our next president is. Each presidential candidate has strong views on energy policy...
The truth is that we are the most drugged people on the face of the planet. Less than 5 percent of the world’s population lives in this country, and yet we buy four-fifths of these highly addictive drugs. In the United States today, approximately 4.7 million Americans are addicted to prescription pain relievers, and that represents about a 300 percent increase since 1999.
After a weekend full of chaos for Trump rallies in Ohio, where violence broke out during several rallies and Trump was even rushed by an protester, moments ago the GOP presidential frontrunner started his daily rally in Hickory, North Carolina with Chris Christie by his side ahead of the all important primaries in Ohio and Florida.
Public opposition to the sovereignty killing corporate giveaway marketed as a free trade deal known as the Trans Pacific Partnership (TPP) has become so widespread that all the leading candidates for the U.S. Presidency are publicly against it. Essentially, the more time the American public has to learn about this scam, the more they are against it. Which is precisely why the Obama administration wants to push it through as quickly as possible.
"Okay, Donnie, you win. I’m moving out. Not moving out of the country — not yet anyway. I’m merely moving out of one of New York’s many buildings slathered in equal portions with gratuitous gold and the name “Trump.” Nine largely happy years with an excellent staff and an excellent reputation (until recently, anyway) — but I’m out of here."