ECONOMICS

Authored by Conor Gallagher via NakedCapitalism.com,

The situation in Europe is getting so bad on so many different levels, the Brussels crowd had to bring in “Super” Mario Draghi to save the day — or at least write a report telling them what to do…

Draghi has spent time at Goldman Sachs, the European Central Bank (ECB) during the sovereign debt crisis, and as unelected prime minister of Italy during the early days of the Covid pandemic and runup to Project Ukraine. (more…)

Authored by Michael Pento via PentoPort.com,

The labor market is clearly weakening. But in reality, this is what needs to happen.

Short-term pain is needed to reconcile the great imbalances created by decades of free money. The alternative is intractable inflation that renders the middle class into penury.  

• The most recent ADP employment report showed job growth in August was just 99k, far below the projected 140k net new jobs that were supposed to be (more…)

By Noi Mahoney of FreightWaves

Retailers and manufacturers are seeking to mitigate a potentially multibillion-dollar hit if members of the International Longshoremen’s Association go on strike beginning Oct. 1 at 13 of the nation’s major East Coast and Gulf Coast ports.

The contract between the ILA and the United States Maritime Alliance, which negotiates on behalf of management of the ports, terminals and shipping lines, is due to expire at midnight on Sept. 30. The (more…)