Unemployment

How The Welfare State Dies

Brexit has diverted attention from another little drama playing out in Europe. As of the time of writing, if you Google Hollande threatens to ban protests or variations thereof, you will find Russian, South African and even Iranian press reports on the topic. Otherwise, it’s basically crickets (sole exception: Politico).  Gee, we wonder why? Those who elected Mr. Hollande did so because they expected him to deliver the loot. His problem is that he’s running out of stuff to loot.

The PhD Bubble Has Burst: Graduating 'Doctors' Are Having Trouble Finding Work

"The supply of PhD's has increased enormously and the demand in the labor market has increased but not nearly as fast. When you can import an international workforce or outsource research, you have a buyer's market... The percentage of new doctorate recipients without jobs or plans for future study climbed to 39% in 2014, up from 31% in 2009."

The Scariest "Brexit's Impact On The World" Report Yet

The febrile behavior of financial markets ahead of the United Kingdom’s referendum on June 23 on whether to remain in the European Union shows that the outcome will influence economic and political conditions around the world far more profoundly than Britain’s roughly 2.4% share of global GDP might suggest. There are three reasons for this outsize impact...

Profiling Jo Cox's Killer: Was He A "Terrorist" Or Just Insane

In the aftermath of the tragic murder of British Labour MP Jo Cox, the most poignant - and debated - question that has emerged is whether the shooter, 52-year-old white male Thomas Mair, was motivated by political ideology especially since as some eyewitness have claimed he shouted "Britain First" during his deadly attack and is now being probed for "far-right links", or if he was simply mentally ill.

Austerity Kills! Bank Of Greece Admits "Greeks' Health Deteriorating, Life Expectancy Shrinks"

The economic crisis and the strict austerity bound to the Greek bailout agreement kills... according to The Bank of Greece's Monetary Policy Report, noting that that "while it takes longer to record the exact effect, trends show a deterioration of the health of Greeks in the years of loan agreements and austerity cuts." Finally, and quite stunningly, The BoG report warns that the economic crisis and the devaluation of the health sector threaten to shrink the life-expectancy.

Fed Finds "The End Of The Road"

The big risk for the Fed has always been the market would “call their bluff”  be unwilling to buy into the “forward guidance.”  It is currently too soon to know for certain but reactions following yesterday’s announcement are not promising.

Housing Bubble 1.0 Vs. Housing Bubble 2.0 - The Culprit Is "Shadow Demand"... Again!

"If 2006 was a known bubble with housing prices at “X”, affordability never better, easy availability of credit, unemployment in the 4%’s, total workforce at record highs, and growing wages, then what do you call today with house prices at X+ 5% to 20%, worse affordability and credit, higher unemployment, weakening total workforce, and shrinking wages? Whatever you call it, it’s a greater thing than “X”."

European Peripheral Bond Risk Explodes: Forget Brexit, "Now It's Italy's Turn"

If there was any doubt that Brexit was "relevant" then the surges in European peripheral bond risk, despite massive bond-buying by The ECB, should send shivers up and down the status quo huggers that are shrugging the referendum decision off because "central banks will provide liquidity." However, it's not just The UK that EU officials need to worry about, as The Globalist notes, Germany will have to change its policies if it wants to avoid exit of other countries from the eurozone.

Global Stocks Continue To Plunge As Central Banks Disappoint, Brexit Looms

Futures on the S&P 500 slipped 0.3%, as U.S. equities are on track to extend losses for a sixth day.  Europe's Stoxx 600 fell to a four-month low, sliding 1% for its sixth decline in seven days, and U.S. crude retreated for a sixth day in the longest losing streak since February. Bond yields sank to records in Germany, Australia after Japan as Federal Reserve Chair Janet Yellen said next week’s U.K. vote on European Union membership was a factor in the decision to hold interest rates steady. The Yen surged more than 2% as the Bank of Japan refrained from adding any new stimulus,

How Will You Cope With A Lower Standard Of Living?

The forces are mounting that will eventually overwhelm most Americans and send their standard of living to unknown depths. Americans that have only known the post WWII prosperity are ill equipped and educated to deal with depression level living. Easy credit and instant gratification have created a nation of whining, self absorbed, entitlement minded people with no moral or mental toughness.