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Is This The True State Of The US Labor Market?
Despite all the confidence-inspiring propaganda from any and every mainstream talking-head, CEOs are cautious about the U.S. economy’s near-term prospects and are trimming business plans for hiring and capital investment over the next six months. According to The Business Roundtable, the CEO Economic Outlook Index tumbled 7.2 pts, from 81.3 in Q2 to 74.1 in Q3...
“The downward trend in CEO plans for investment and hiring continues to reflect reasonable caution regarding near-term prospects for modest U.S. growth,” said Randall Stephenson, chairman of Business Roundtable and chairman and CEO of AT&T Inc. Stephenson noted that business plans could be negatively affected if Washington fails to act on federal budgets, the debt ceiling and tax extenders.
“Predictability is critical to spur investment and unlock economic expansion and job growth,” Stephenson said. “Congress and the Administration need to work together to pass a prudent spending plan and renew expired tax provisions. U.S. workers cannot afford the instability that comes with inaction.”
But most worrisome is the disparity between CEO's employment perspective and the BLS 'augmented reality' having never been higher.
If this is the true state of the labor market, then - once again - The Fed will act on The BLS' delusionally positive 'adjusted' data at the worst possible time.
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Isn't the Fed sort of committed to following the official data?
The Brethren see these things more like "guidelines" then codes .....
They are committed to doing what they are told when they are told to do it by their masters. Read Tragedy and Hope.
Just because the FED sees the alleged data, doesn't mean they'll follow it. The FED has their own Keynesian based models and a big dart board they use to decide what to inflict on us next......
Who cares about a stinkin economy when you can BTFD.
Buy your own stocks and fire a bunch of people-seemingly never fails
At this point, is it reasonable to expect that ZIRP is having any positive effect on the economy and/or hiring? I would be willing to bet the first evidence of rate normalization will actually be good for the economy (after the initial shock to the bubble economy evaporates).
unfortunately, the liabilities of the U.S. government are what they are. This is the fundamental problem as that which cannot be sustained/funded, won't be.
Yup - 0.01% on 150 T is 15 B U$$D.
Isn't it obvious by today's computer generated stock gains that there will be an interest rate hike this week?
Businesses expect inflation, not deflation.
Even with the lower oil prices.
Closing down coal negates benefits.
Are these the same CEOs who have been loading up their companies with debt at FED ZIRP rates in order to buy back their own company's shares - which has resulted in corporate buy backs being the single largest buyer of shares since the Lehman crash ?
I used to work at AT&T. I was part of that huge layoff in '08. Later I would work with an AT&T partner, and that didn't last long either, and fell apart in '12.
Here's the primary flaw with this entire analysis:
Here we are forced back to the contention that govt. creates jobs! The more we are conditioned to believe this, the more trouble we find ourselves in.
Govt(s) do not create jobs, wealth, and prosperity. Individual private citizens do. The Constitution is adamant about promote vs. provide. Case in point:
A U.S. president provides (loans) to a private individual $150 BILLION (USD). The said individual returns the $150 BILLION principal, in total back to the U.S. Treasury within a six (6) month period. With that $150 BILLION investment, said individual generates a return on investment (ROI); profit, of some 20,000%.
That's the private sector at work ..
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp
Govt(s) [bureaucracies] could never achieve this. There simply is not enough brain-trust in the collective of govt. labor ..
Show me someone else (besides "Howie" Kwong [deceased/murdered]) that RESET the value of the SUR (Soviet Union Ruble) by ~75% or 2/3. (that is depreciated it). Doing this via buying the SUR at between 18 and 28 cents on the USD. Then selling back those rubles at $1.08 per ruble ..
Because we cannot afford a world war, especially with a nation of over one billion people in economic distress, and we do not want to repeat the pain of the fall of the USSR and the Russian people, there is going to be a RESET of the USD/FRN/Petrodollar. And the one [largely] doing the reset, has experience in doing so with a previous superpower currency ..