ECONOMICS

Initial jobless claims continue to drift along in the same range it has been in for three years, with unadjusted claims literally near record lows, just in time for the Fed to cut rates following the recent near-record revision to payrolls. Almost as if one hand of the Dept of Labor (initial claims reports) is unaware of what the other hand (Payrolls and especially revisions) is doing.

Broken down by region, the bulk of initial claims (unadjusted) was in the West, followed by the (more…)

"Honestly, I do not think this economy can withstand the ravages of what it has experienced since 2021."

'Four more years' is not the message being heard from the regional Fed surveys this week as the Philly, Dallas, and Richmond business surveys all slumped deeper into contraction…

Source: Bloomberg

Actual CapEx is weak, New Orders are plunging, and the number of employees is tumbling…

Source: Bloomberg

Overall, respondents’ (more…)

Via SchiffSovereign.com,

It almost sounded like an apology. Almost…

On Friday, Federal Reserve Chairman Jerome Powell stood in front of reporters and explained how we got here… and how inflation took hold.

To be fair, he rightly diagnosed the root causes: extreme government spending and money printing during the pandemic. And then, when the economy reopened after the lockdowns, there was a sudden surge in inflation.

The Fed and its army of experts assumed this (more…)