Submitted by Paul Craig Roberts, Washington’s IQ follows the Fed’s interest rate – it is negative. Washington is a black hole into which all sanity is sucked out of government deliberations. Washington’s failures are everywhere visible. We can see the failures in Washington’s wars and in Washington’s approach to China and Russia. The visit of […]
by Tyler Durden Over the past few months (not to mention last 7 years), the topic of America’s “missing inflation” has gained major prominence, because while supposedly every other aspect of the economy is humming along (which really just means that record numbers of waiters, bartenders and temp workers are hired and collect minimum wage […]
By Michael Snyder The Obama administration is telling us that the unemployment rate in the United States has fallen to 5.1 percent, but does that number actually bear any resemblance to reality? On Friday, news outlets all over America celebrated the fact that the U.S. economy added 173,000 jobs in August. We were told that […]
by Harry Dent It’s finally happening. The crash season is upon us. We’ve seen the early signs this week with leading stocks getting the carpet swept out right from underneath them. China’s stocks are right where they were when its bubble burst 35% into July. UK stocks are in a correction. The DAX is in […]
Paul Craig Roberts Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report was […]
by Tyler Durden One of the biggest drivers of the so-called recovery (in addition to the Fed’s $4.5 trillion balance sheet levitating te S&P500 and the offshore bank accounts of 1% of the US population) has been the US consumer: that tireless spending horse who through thick, thin, recession and depression is expected to take […]
It is hard to believe that one out of every three Americans is financially supporting the other two-thirds. The unemployment rate appears much lower than it is because of the odd math behind the labor force. The latest unemployment rate of 5.3 percent sounds great until you realize that last month 640,000 Americans were plopped […]
The so-called “trustees” of the social security system issued their annual report last week and the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year—-until 2034. So take a breath and kick the can. That’s five Presidential elections away! Except […]
Early indicators suggest that the $15 minimum wage is a “lose, lose” proposition for employers and employees. Randy DeSoto As the push continues in various locations around the country to raise the minimum wage to $15 per hour, the real world consequences of such a move have begun to surface. Seattle became the first city […]
