The Self-employed rate tends to bottom before the U3 in past cycles. The current episode is no exception — it troughed last November at 2.250%, both below and before the U3 did at 3.585% this April
The Fed has indicated that it was monitoring the outcome of G20 summit, and the tone of incoming data in order to make the case for any July rate cuts.
Given market expectations, foreign central bank action and a calming down of the trade war, it could require a fairly significant payroll miss to induce more of the same in July – that being a large rally in stocks, bonds and gold...
There is no solution to the woefully underfunded pensions in Chicago and in Illinois that does not involve benefit cuts subsequent to a 2020 constitutional amendment or municipal bankruptcy...
"Haven’t seen this in over 9 years; same decline we saw in Feb-March of 2008 when the consensus was busy calling for a soft landing. This isn’t a repeat of 2016 by any stretch."
"We cannot keep asking taxpayers to give us more revenue without the structural reforms that are fundamentally necessary to make our city and our state run better..."
...there isn't a single state, metro area or county in the U.S. where a full-time worker earning the minimum wage can afford to rent a two-bedroom property.
The process to target Chicago’s “rich” already started earlier this year, with Illinoisans earning more than $250,000 facing tax increases as large as 60%.
As today’s pension underfunding grows inexorably with each passing year, the Federal Gov’t will be forced to add money, turning to MMT to make the math work.
The European Central Bank's recent move away from the exit from ultra-loose monetary policy has revived the debate on Europe’s potential "Japanification."
The youngest and least-skilled and lowest-earning workers turning decidedly pessimistic in sync lights a roman candle on unemployment. When it is lit, the flare signals the first phase of end-of-cycle labor cuts...
Since June 2009 Americans have lived in the false reality of a recovered economy. Various fake news and manipulated statistics have been used to create this false impression...
