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SP 500 and NDX Futures Daily Charts – Tragedy Tomorrow, Comedy Tonight / July 23, 2014

Facebook announced ‘better than expected’ numbers after the bell. The stock sold off a bit because apparently the ‘whisper numbers’ were higher.AT&T posted a miss.Unemployment claims out tomorrow, as if anyone cares.The IMF has lowered its US growth estimates and suggests Fed easing could extend beyond 2015.



How to Start Reforming the Federal Reserve Right Now / by Brendan Brown / Wednesday, July 23, 2014

First the good news. The House Financial Services Committee has held a hearing on “Legislation to Reform the Federal Reserve on its 100-year Anniversary.” The hearing focused on a bill introduced by Scott Garrett and Bill Huizenga which would require the Fed [...]

The New Scariest Chart In America / by Tyler Durden on 07/21/2014 15:29

For the last few years, the ‘scariest’ chart for Europeans has been the unending surge in youth unemployment. However, amid all the sound and fury of mainstream US media discussions of the ‘recovery’ in America and the President’s employment track record, Constantin Gurdgiev notes another ‘scariest chart [...]

Global Giddiness at a Cyclical Peak? / BY RICK ACKERMAN / JULY 14, 2014 12:03

The financial system’s interminable endgame continued last week with a hiccup in global markets that was attributed to liquidity problems at a Portuguese bank. Some might have hoped Europe’s problems were behind us, especially with the spate of ginned-up stories concerning Spain’s miraculous economic recovery [...]

President Obama To Explain Why Wal-Mart’s CEO Is Wrong; Economy Is Doing Great – Live Feed / by Tyler Durden / 07/09/2014 12:15

Stocks at record highs… Unemployment rates at multi-year lows… magical job creation ‘impressive’… President Obama has a lot to proclaim “mission accomplished” over – except its all fallacious (as Wal-Mart’s CEO recently explained). Of course, this will all be solved if everyone was paid ‘fairly’ at [...]

What “Rosy” Job Numbers? Wal-Mart CEO Slams Recovery Mirage / by Tyler Durden on 07/08/2014 20:05

When the CEO of the world’s biggest company doubts the veracity of US economic data, you know you have a problem. After quarters of disappointing growth in the face of miraculous equity market performance; Wal-Mart CEO Bill Simon warns that shoppers aren’t returning at the pace one [...]

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts / By Paul Craig Roberts / July 7, 2014

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June [...]

A Liberal’s Despair: Obama, the Deficit Cutter / Gary North / July 05, 2014

At first, I thought this article was a parody. Then I realized the author is serious. The title: Obama’s greatest failure: The rapidly falling deficit.

The author writes:

Ever since 2009, when the recession and the stimulus [...]

Being young increases your odds of being unemployed in the US: 40 percent of unemployed workers are Millennials. The long-term impact of young unemployment. / mybudget360 / July 5, 2014

Young Americans continue to carry a heavy burden brought on by the Great Recession. A recent analysis conducted on US Census data found that 40 percent of unemployed workers are Millennials. Many young workers are simply trying to start their careers and each year that passes [...]

92 Million Americans Unemployed As Many As Millions Illegal Immigrants Heading For Us Border. Guess What I Was Just Told? The Economy Is Getting Better. WTF? / July 4th, 2014

Record Number of Americans Not in Labor Force in June

( – The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the [...]

Cartel Wars – The Return of Gold and Silver / Andrew Hoffman / July 3rd, 2014

On his weekly podcast, Andy Hoffman discusses the NFP and ADP employment Report, GDP, unemployment rate, surging food and energy prices, stocks and bonds, Argentina, gold and silver. To listen to the audio, please click below:

Download the MP3 File: Cartel Wars [...]

People Not In Labor Force Rise To New Record, Participation Rate Remains At 35 Year Lows / by Tyler Durden / 07/03/2014 08:52 -0400

Those following the labor force participation rate (which as even the Census Bureau showed is declining not so much due to demographics but due to older people working longer and pushing younger people out of the labor force as we showed yesterday) will hardly be surprised [...]

June Payrolls Surge 288K, Above Expectations, Unemployment Rate Tumbles To 6.1% / by Tyler Durden / 07/03/2014 08:36 -0400

For once the ADP was actually spot on: in June the US economy added 288K nonfarm payrolls, far above the 215K expected, and above the upward revised 224K from June. Further, May jobs were revised from 282K to 204K. This was the fifth consecutive [...]

Another Fed Forecast Reminds Us of the Logic of Central Bank Conspiracies / By Staff Report / June 19, 2014

Fed policymakers cut growth forecast … The Federal Reserve sharply reduced its forecast for U.S. economic growth Wednesday but also predicted that the unemployment rate by year’s end will be lower than it previously estimated. This year’s growth forecast is now just above 2% — in [...]

Gallup’s Stunning Explanation For America’s Unemployment Epidemic: Obesity / by Tyler Durden on 06/18/2014 21:32

Two things became abundantly clear during today’s Yellen press conference: i) the Fed no longer has any idea what it is doing, or where it is steering the economy, exemplified by the Chairwoman’s response that she has little “confidence” in the Fed’s current set of forecasts (because [...]

It’s Official: Despite Media Hype, Eurozone STILL In Recession / Wolf Richter / JUNE 18, 2014 AT 1:13AM

The media and statistical agencies have been bursting at the seams with stories about the Eurozone’s increasingly healthy economy. Government budgets remain a mess. But no one really cares as long as bond markets are willing to fund these deficits and roll over [...]

Even the Feds Admit Minimum Wages Cause Unemployment / by Nicholas Freiling / Tuesday, June 17, 2014

Minimum wage doesn’t apply to everyone.

When Congress first established minimum wage in the Fair Labor Standards Act of 1938, it left a loophole for businesses that employ people with disabilities.

The Secretary, to the extent [...]

The Horrible Laugh Of The Damned And The Doomed / The Mogambo Guru / June 11, 2014

I can hear the family gathered outside, banging on the walls of the Mogambo Bunker Of Paranoid Hysteria (MBOPH), demanding that I unlock the door, come outside immediately, stop acting like a crazy person, and at least pick up the empty pizza boxes that I threw [...]

The Austerity Diaries: If You Don’t Have a Job, Make One Up / Daisy Luther / June 13, 2014

With unemployment rates skyrocketing, going out and finding a new job can be nigh on to impossible these days. This is only going to get trickier as the government continues to force businesses to increase the minimum wage. Workloads that used to provide employment to [...]

THREE Charts That Prove We’re in a Depression and That the Federal Reserve and Washington Are Wasting Money / By Graham Summers / 11 June 2014

Wall Street and mainstream economists are abuzz that we’re seeing a recovery in the US due to the latest jobs data. These folks are not only missing the big picture, but they’re not even reading the fine print (more on this in a moment).

The reality [...]

An Earlier End To QE? / by Scotiabank’s Guy Haselmann / 06/11/2014 08:13

Adieu, Sweet QE, Adieu

The FOMC should (and might) accelerate the pace of QE reductions to $15 billion on Wednesday (June 18th). Furthermore, at its meeting on July 30th, the FOMC could – and should -announce a similar-sized reduction for the subsequent [...]

Two Thirds Of Gen X Households Have Less Wealth Than Their Parents Did At The Same Age / by Tyler Durden on 06/10/2014 18:45

While the endless propaganda regurgitated from every media outlet will have the average American believe (inbetween trips to collect and cash unemployment checks) that in the first quarter the economy crashed due to weather, or that millions of Americans are bailing on the labor force [...]

Hiring In The US Remains Far Below Pre-Recession Levels / by Tyler Durden / 06/10/2014 10:34

While the headline job openings print in today’s JOLTS report was better than expected at 4,455K, well above the 4,050K, and up from last month’s revised 4166K, this particular data point, in the New Normal in which not even the Fed believes the unemployment [...]

Unemployment and A Tale of Two Financial Crises / by D.W. MacKenzie / Tuesday, June 10, 2014

The latest GDP report indicates a slowdown in overall economic activity in the first quarter of 2014. Apologists for the Obama administration attribute the recent slowdown to unusual winter weather. Some have even suggested that the first-quarter slowdown sets the stage for rapid economic [...]

The US Labor Market In One Chart (According To The Fed) / by Tyler Durden on 06/09/2014 17:02

Having spent the last few years blowing away the importance of the unemployment rate propaganda as participation rates have now become mainstream media discussion points, we were not surprised when the Fed admitted that it uses a “dashboard” of various employment measures (even if the world watches [...]

The “Hidden Cost” Of Distraction / by Tyler Durden / 06/09/2014 14:50

The ever-rising ranks of youth unemployment coupled with the increasingly cheap and easy access to “distractions” from the dismal realities of life (if one is not a wealthy leveraged shareholder) mean a lot of potentially productive time is totally and utterly wasted in this world… how much [...]

Teen Unemployment In Major U.S. Cities Tops 50% / John Odermatt / June 7, 2014

Old timers often say that the young people in the U.S. today don’t have the work ethic of their predecessors. This may be true, but is this perceived weakness a symptom of a greater problem? Has the opportunity for many young people to find employment [...]

217K Jobs Added In May, In Line With 215K Expected; Unemployment Rate 6.3% / by Tyler Durden / 06/06/2014 08:34 -0400

In a report that was a complete snoozer, largely as many had expected, in May the US Economy is said to have added 217K seasonally adjusted jobs, virtually in line with the 215K expected, while the unemployment rate remained at 6.3%. According to the household survey [...]

European Poverty Reached 123 million – 16% / By Martin Armstrong / June 5, 2014

The Sovereign Debt Crisis that began to show its head in Europe is demonstrating that socialism just does not work. The whole idea of a central managed state and highly regulated pro-worker policy has reduced job growth and exploited labor to such an extent with [...]

There is No Tradeoff Between Inflation and Unemployment / by Chris Casey / June 05, 2014

Anyone reading the regular Federal Open Market Committee press releases can easily envision Chairman Yellen and the Federal Reserve team at the economic controls, carefully adjusting the economy’s price level and employment numbers. The dashboard of macroeconomic data is vigilantly monitored while the monetary [...]