Following March's big disappointment in BLS (and surge in ADP), perhaps today's better than expected print for April of +204k (+198k exp) is less relevant than ever.
Drew Nieporent, owner of Nobu and Tribeca Grill, said if Cuomo does away with the lower minimum wage, and the city doesn’t allow a surcharge to cover the added expense, it will be "disastrous" for restaurants.
With war on everyone’s minds, public pension and medical funds delineate inevitable battles lines: governments versus taxpayers, the unproductive versus the productive, the aging versus the young. Those wars are liable to be far more consequential than the ones everyone worries about in places like the Middle East and North Korea.
Blow-out earnings from Facebook and Amazon have cheered Wall Street, but institutional owners might want to focus not just on blow-out earnings but rising blowback against the tech superpowers (Facebook, Google and Amazon).
The paper "almost completely ignores workers’ rights, asymmetric power in the labour market and phenomena such as declining labour share in national income," Bakvis said.
"Unions, foundations, and nonprofits still live in a world where an improving state economy was a reason to advocate for salary increases or fund the latest program. That world is gone. Winter is already here. Unlike the fantasy world of Westeros, there are no magical solutions or heroes coming to save us."
"When the mother f#cking-f#ck is any of this going to be corrected?!?! I am beyond mad. Ecuador has become an option, because this country is beyond f#cked up..."
"The key story to play out very soon in the back-end of the curve is the pension reallocation out of equities and into long duration bonds prompted by tax reform." - BofA
"...whatever you might think about the consequences of skyrocketing government debt, you should consider that it might be rocketing at a much steeper trajectory than you’re being told..."
