ECONOMICS

Ahead of Friday's payrolls report, there were rising expectations that the economic rebound observed in the past two weeks – and following the dismal July jobs report – would persists. Alas, those hopes were promptly crushed moments ago when shortly after a dismal US Manufacturing PMI report, which printed in its final iteration at 47.9, below the prelim print of 48.0 and below the 48.1 estimate, the more closely watched Manufacturing ISM report came in even uglier, printing at the 5th (more…)

Authored by Mark Gilman via The Epoch Times (emphasis ours),

It’s been a rocky year for the restaurant industry, with rising costs due to inflation and changing consumer habits driving a slew of chains with household names into Chapter 11 bankruptcy. According to those who follow the industry, there is no definable silver lining ahead for an industry in deep trouble.

A sign is posted in front of a Red Lobster restaurant in Fremont, Calif., on May 14, 2024. Justin Sullivan/Getty (more…)

Authored by Jeffrey Tucker via The Epoch Times,

There is the reality all around us – restaurants struggling to survive, bills eating household income, jobs ever less secure, costs soaring for all enterprise, even the local dollar stores hitting hard times – and there are the macroeconomic statistics reported daily by the media. They seem to have ever less connection to each other.

Why do we have macroeconomic statistics? We all want to know more about the world outside of (more…)