ECONOMICS

S&P Global's Flash PMI data for August signals the continued divergence between US manufacturing (slump) and Services (survive).

• Flash US Services Business Activity Index at 55.2 (July: 55.0) – 2-month high.

• Flash US Manufacturing Output Index at 47.8 (July: 50.5) – 14-month low.

• Flash US Manufacturing PMI at 48.0 (July: 49.6) – 8-month low.

And all that as 'hard' macro data is collapsing…

Source: Bloomberg (more…)

It's delightfully fitting that on the day the entire financial world was holding its breath for Biden's highly politicized and grossly incompetent Bureau of Labor Statistics to admit it had massively fucked up the jobs data over the past year, that Biden's highly politicized and grossly incompetent Bureau of Labor Statistics fucked up even more.

At exactly 10am ET this morning, the BLS was supposed to publish its annual CES Preliminary Benchmark Announcement revision, an (more…)

Authored by Terrence Keeley & Jim Sorenson via RealClearPolitics,

The election of J.D. Vance to the vice presidency could usher in a once-in-a-lifetime opportunity for dramatic advancements in the lives of America’s most down-trodden, forgotten, and trapped: Such is his promise “to never forget where he came from.” With the right policies, programs, and commitments, his compelling personal story of triumph over a broken home, the ravages of drug addiction, poverty, and cultural (more…)