Despite much hopeful banter among the mainstream media, Goldman forecast nonfarm payroll job growth of 220k in June, notably below consensus expectations of 234k. This is roughly in line with Goldman's expectations for below average job growth over the remainder of 2015. Employment indicators were mixed in June: reported job availability, the employment components of most manufacturing surveys, and ADP employment growth improved, but jobless claims and job cuts both rose slightly and online job ads declined. Overall, the June data point to a gain below the very strong 280k increase in May.
The recent spike in earthquakes in Oklahoma could present a “game changer” for regulators. That is how regulators themselves described the spate of earthquakes that struck the state between June 17 and June 24, according to Reuters. “If there is damage and loss of life, you will see the political climate absolutely change overnight,” cautioned Jason Murphey, a Republican representative in the state legislature, according to Reuters. “When and if that happens, you will have a cloud that hangs over the energy sector for the rest of our lives.”
Wherever government officials sense a credible threat to their power, they invariably take every opportunity to crush it by any means necessary: this is the first principle of how governments function, and every libertarian is all too familiar with it. this latest tragedy, you can be sure, will be used to accomplish the same anti-libertarian ends: the calls to investigate “hate groups,” and even to ban “hate speech,” are already being heard. Of course, who and what constitutes a “hate group,” and who is hating whom are subjective evaluations that no government official is qualified to make...
Eerily reminiscent of the determinedly evil oil baron from the movie 'There Will Be Blood', Reuters reports the growing tensions amid California's drought-stricken wineries are boiling over: "There is way too much demand. I blame a lot of vineyards like other people do... It's a matter of who has the longest straw at the bottom of the bucket." No one should worry though, because the government is here to help - with a new water management agency...
For all who are still confused why there are no wage hikes despite the Fed's relentless efforts to micromanage the economy and stimulate wage growth via trickle-down record high stock market prices, the answer is that there is wage growth. Just not for 83% of the working population. Now, with pundits parroting the “robust” jobs market refrain on the nightly news, “everyday Americans” are beginning to ask “where’s my raise?”
"Wall Street’s generous supply of funds to U.S. oil drillers helped create the American energy boom. Now that same access to easy money is keeping them going, despite oil prices that are languishing around $60 a barrel," WSJ says, proving that the era of easy money has in fact led to deflation.
America The Obese: Is There A Multibillion Dollar Conspiracy To Make Sure Americans Stay Overweight?Submitted by Tyler Durden on 05/29/2015 18:55 -0400
According to Gallup, America is now fatter than it has ever been before. But how can this possibly be? After all, Americans spend an astounding 60 billion dollars a year on weight loss programs and products. After putting so much time, effort and energy into losing weight, shouldn’t we be some of the healthiest people on the entire planet?
While it is likely oil prices could get a bit of a bump from a decline in the U.S. dollar, ultimately it will come down to the fundamentals longer term. It is quite clear that the speculative rise in oil prices due to the "fracking miracle" has come to its inglorious, but expected conclusion. What is interesting is that most have not figured out that the same thing will occur with the artificially driven surge in financial markets as well. It is quite apparent the some lessons are simply never learned.
So much for the Saudi and OPEC strategy of putting a dent in US Oil Production by not cutting production and hoping to gain market share for their oil by putting the Shale Industry out of business.
Between 1974 and 2009 there were 62 magnitude 3.0 or stronger earthquakes in Oklahoma. In the past five years there have been 1,070 M3.0+ quakes. The chart of Oklahoma's quake surge correlates perfectly with the amount of wastewater injected into the state. And when it comes to Oklahoma's "induced seismicity" there is nobody more responsible for either Oklahoma's "shale miracle" or the resultant earthquake epidemic than David Chernicky, CEO of Tulsa-based New Dominion.
"We got hammered," Houston's emergency management coordinator Rick Flanagan told CNN, and as the following stunning images show, that is an understatement. "We've seen flooding before, but not nearly to this extreme," said one resident, adding "It rains and it rains and it rains, and there's really nowhere for the water to go... It's ridiculous." Perhaps even more stunningly, as Mashable's Andrew Freeman notes, the floods have been a remarkable turn of events for a region that was still mired in drought as of three weeks ago. That drought, which had affected Texas since 2010, is now effectively over in most areas, as is a long-running drought in Oklahoma. Authorities are still searching for 12 members of two families who went missing over the weekend.
“The Iraqi forces just showed no will to fight. They were not outnumbered. In fact they vastly outnumbered the opposing force and yet they failed to fight and withdrew from the site...We can give them training, we can give them equipment. We obviously can’t give them the will to fight.”
"Six years after the recession ended, many U.S. states are hard pressed to balance budgets because of a sluggish recovery and their own policy decisions and in fact, thirty-two states faced budget gaps in fiscal 2015 or 2016 or both." Bloomberg reports. Indeed, state and local governments are so broke that "even Republican governors loath to raise taxes have proposed higher levies."
"Mr. Hamm is very upset at some of the earthquake reporting to the point that he would like to see select OGS staff dismissed."