Goods-producing jobs rose 9k while Services dominated once again, rising 146k in July, but notably very small businesses (1-19 employees) have seen job losses for three straight months...
Americans don’t need a Green New Deal any more than they needed the original New Deal. Each of them is a grab bag of progressive social and economic goodies with horrific consequences for liberty and property.
All they have contrived is to defer the day of reckoning. Solutions are available, but none are politically palatable; meanwhile the misallocation of capital could drive the trend rate of economic growth inexorably lower.
Who would loan money to an insolvent pension fund? Oh, that would be you, the taxpayer. In other words, the Government wants you to bail out your own retirement fund... Genius. But it’s going to get far worse...
“People think digital economy or the future of work, we’re all going to be these hipsters sitting by their computers or driving these luxury cars. That’s not the case with these guys.”
Growth slowing, high yield spreads widening, unemployment could potentially be inflecting higher. If the experience of Japan with quantitative easing is still relevant, it would indicate investors are likely to go into bonds rather than equities...
What some auto manufacturers and industry experts were passing off as a slight hiccup for the auto industry is rapidly turning into a full-scale recession if not all out depression.
