Author: bitcointalk

The Fed's latest beige book released this afternoon was a rather boring affair, one signaling US economic growth was "modest" during July and August.

What was most interesting within this drab big picture, was the divergence within consumer spending, where according to the Beige Book, "consumer spending on tourism was stronger than expected, surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era." (more…)

By Carolina Worrell of Railway Age

“August was the third straight month in which total year-over-year U.S. rail carloads have fallen,” Association of American Railroads (AAR) Senior Vice President John T. Gray reported on Sept. 6. Total combined U.S. traffic for the first 35 weeks of 2023 was 16,173,208 carloads and intermodal units, a decrease of 4.9% compared to last year.

Gray said that a major reason why is that “other than automotive manufacturing, the industrial (more…)

Authored by MN Gordon via Economic Prism,

Has there ever been a worse time to be a lowly American wage earner?

First, Washington spewed out $6 trillion in printing press money.  This pushed consumer price inflation to a 40 year high.  At the same time, it diluted wages from a standard lager to a pilsner light.

Now, at this very moment, the demand for higher wages through union organization is leading to the mass culling of payrolls.  The higher wages go.  The less (more…)