Nonfarm Payrolls rose by 175,000 vs. a Bloomberg consensus expectation of 150,000. Beneath the surface, things look worse again. The household survey shows a gain of employment of only 42,000 while unemployment rose by 223,000.
Here's a story too funny to not report. In a field of five, no Democrat senatorial candidate received 50% of the votes in yesterday's Texas primary. But one stands no chance of winning the hearts of Democrats...
Will there be any meaningful sanctions against Russia for invading Crimea? The answer is no, and a comparison to Iran will show why.
Two more bitcoin exchanges were robbed in the past few days. "Flexcoin" lost all online coins and shut its doors.
The ruble was down 1.43% yesterday, 9.81% for the year. Russia sold $10 billion and hiked interest rates hoping to stop the decline.
Since the time of Shakespeare seldom has there been so Much Ado About Nothing and from both political parties to boot.
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.”
Forget all the talk about CPI or as they call it in Europe HIPC (harmonized index of consumer prices) floating just under 1%. The true measure of inflation is credit expansion. And for the second month, credit contracted in the Eurozone.
I received an interesting email regarding Ukraine from reader Jacob Dreizin, a US citizen who speaks both Russian and Ukrainian. Jacob comments on media bias and offers the "full scoop" on Ukraine.
Illinois: The state’s pensions are underfunded by at least $100 billion. Powerful teacher unions can shut down schools to win pay hikes from nearly broke school districts. A temporary tax increase is liable to be made permanent – or worse, replaced with a progressive income tax.
I have been under constant barrage of unsolicited phone calls recently. The phone calls typically begin with the same lie: "We have a really good investment opportunity"... This is the kind of thing that happens at market tops. Everyone wants in, and the fraudsters come out in force to take advantage.
In the real world, people have to eat. They have to buy gasoline for their cars. They have to buy clothes when they wear out. They have to heat their homes. Those are relatively inelastic demands. None of these inflation cheerleaders discuss what happens if wages do not keep up.
It was a bad idea to provide subsidies to water the desert in the first place.
President Viktor Yanukovych fled Kiev and is now in an Eastern Ukraine city closer to Russia.
Today the Fed released minutes of meetings at the start and during the great financial crisis. These minutes show how clueless the Fed Governors were at the start of the recession.
A proposal by French president Francois Hollande got me thinking about "The Law of Bad Ideas". I did a search for the phrase and surprisingly, nothing came up. Thus, I get to define the phrase.
It is beyond absurd to seriously propose that such whopping increases would not impede hiring. Only economic illiterates and political charlatans can make such statements.
Given stagnant wages and higher taxes, the only way households can increase spending is to go further into debt. The New York Fed quarterly report on Household Debt and Credit shows that is exactly what happened.
Trade wars, immigration battles, and especially beggar-thy-neighbor competitive currency debasement tactics are hallmarks of deflationary times. When jobs are plentiful, such pressures are minimal. Now, every country seeks advantages for itself, hoping to raise exports.
Am I mistaken or did Venezuela president Nicolas Maduro just call for a protest march against himself?