ECONOMICS

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…)

Authored by Mike Maharrey via Money Metals,

The Federal Reserve boasts of its data dependence. But what if it’s relying on bad data?

Even worse, what if it’s plugging that bad data into a faulty model?

In July, the Bureau of Labor Statistics (BLS) made massive downward revisions to the job numbers. Poof – the agency simply erased 111,000 jobs from existence.

This has been an ongoing pattern. The BLS releases a report. The media trumpets the greatness of (more…)

Authored by Mike Maharrey via Money Metals,

To steal a phrase from Thomas Jefferson, the Federal Reserve and the U.S. government have buried us under a "deluge of paper money." 

We deal with the consequences of this monetary malfeasance every time we go to the grocery store or the gas station. Our rapidly deprecating money buys less and less every single day.

Central bankers and politicos claim to be fighting this inflationary monster, but the ugly truth is (more…)