Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?
The August unemployment report shows steady as she goes sorts of statistics. Yet, the report is really a mixed bag. The unemployment rate dropped two tenths of a percentage point to be 5.1%. The labor participation rate remained the same, 62.6%, and hasn't changed for three months. Once again over a quarter of a million people dropped out of the labor force.
According to Pew Research, this year the Millennial generation (ages 18 to 34 in 2015) is projected to surpass the Baby Boom generation (ages 51 to 69) as the nation’s largest living generation — with 75.3 million Millennials vs. 74.9 million Boomers. The Gen X population (ages 35 to 50 in 2015) is also projected to outnumber the Boomers by 2028. Where will Social Security be for them when they retire?
The August ISM Manufacturing Survey shows more deceleration of the manufacturing sector. While a PMI of 51.1% is still growth, the decline in new orders is disconcerting. The composite PMI decreased by -1.6 percentage points and new orders decreased by -4.8 percentage points. Overall the report really shows a weakening manufacturing sector.
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.
For the past 40 years, our political leaders have not only allowed, but have deliberately effectuated economic polices that have crammed most of the profits generated by ordinary working people into the pockets of those at the very tippy-top of the income ladder — by conspiring against organized labor, giving preferential tax breaks to the very wealthy, and by allowing bad trade deals to offshore our best jobs.
Not everything Donald Trump has to say should be swept under the rug; some things deserve to be heard. Many people might think he's a "bad guy", but he does know how politics work.
The July personal income and outlays report shows a 0.3% increase in consumer spending. When adjusted for inflation, consumer spending rose 0.2%. Personal income increased 0.4% while real disposable income also increased 0.4% for the month. This is moderate growth. Wages also seem to be finally picking up.
Rand Paul and Ron Paul — comparing apples and oranges? I don't think so, because, as usual, the apple doesn't seem to fall very far from the tree.
Ron Paul supported the elimination of all income tax and the IRS. While his son's tax plan isn't quite as radical, it's still disingenuous — because they're both selling snake oil to us.
Q2 GDP has been significantly revised upward from 2.3% to 3.7%. Investment was dramatically revised upward as was spending by state and local governments. Consumer spending was a healthy 57.2% of real GDP. Also surprising was a lack of upward revisions in imports. Regardless, that is a 1.37 percentage point GDP revision, a 59% change from the advance report.
It's hard to understand why, with so many Americans still unemployed and looking for jobs, why additional work requirements and/or job training would be imposed on those receiving food stamps (SNAP) and/or welfare (TANF) to qualify for these benefits.
The Durable Goods, advance report shows new orders shot up by 2.0% in July. June showed a whopping 4.1% new orders increase. Core capital goods, showed a 2.2% monthly gain. Without transportation new orders, which includes aircraft, durable goods new orders would have increased by 0.6%. Motor vehicles & parts new orders gained 4.0% for the month.
Recently former Labor Secretary Robert Reich went on MSNBC's All in with Chris Hayes to comment on Jeb Bush's plan to have people work longer hours and increase their productivity. Hopefully, if Senator Bernie Sanders is elected, he'll recruit Robert Reich to be our Labor Secretary once again.
The Consumer Price Index increased 0.1% for July, which is very mild. This is in spite of a 0.9% increase in gasoline prices. Energy overall only increased 0.1%. Inflation without food or energy prices considered increased 0.1% for the month even with a 0.4% shelter cost increase. From a year ago overall inflation has increased 0.2%, which is very low.
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