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  • Wall Street Breakfast: All Eyes On Jobs [View article]
    One thing few might be factoring into their viewpoint is that the sharing economy is growing rapidly. So companies like Uber are employing 10,000's of people. If you were an Uber driver would you answer yes to whether you had a job? likely yes, no? However, according to the governments way of counting jobs those jobs don't exist. They are not counted in the jobs creation category for example. The 5.3% comes from a phone survey so likely does reflect the additional employment that has been created through these new apps.
    Jul 3, 2015. 09:23 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: All Eyes On Jobs [View article]
    Buckoux is right, ultra low interest rates are the problem. We need the fed to get its feds fund rate to the level of inflation asap.
    Jul 3, 2015. 09:21 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: All Eyes On Jobs [View article]
    BO, there is no collusion, what there is is something much worse, namely the internet. While shoppers can go out and check to see whether they are getting a good deal when shopping, so can airlines when you are searching for an airfare. After all, it is simple coding to check the price others are offering for the flight requested and then make a similar, though nominally cheaper offer.

    So while some see collusion, reality is that the internet lets everyone check to see what everyone else is charging and act accordingly. Maybe it is time to pull the plug?
    Jul 3, 2015. 09:18 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: All Eyes On Jobs [View article]
    crademan, they factor that into the calculation. That is why in September they can tell us that government "cut government jobs" when in reality they added over 800,000.
    Jul 2, 2015. 01:09 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: All Eyes On Jobs [View article]
    Here are some startling facts you are not hearing:

    Based on the bls the average job growth over the last year has been predicted at ~235k jobs a month. That is a growth of ~2.8M jobs Y-Y.

    This is a lie, the same report shows that Y-Y job gains were only ~2.5M. The gap of roughly 300k jobs comes due to seasoning distorting reality and that seasoning has been as high as 1M lately. You still hear the 3M quote from 2014 but clearly job growth is decelerating and rapidly. One reason for this is a continuing decline in the participation rate, down 0.3% Y-Y, though we are seeing a higher employment ratio, by 0.3%, as people can get jobs instead of hiding in the education system.

    So while we are growing jobs at faster than the rate of population growth, which is alleviating unemployment, the labor market has taken a hit in 2015 and this is likely due to the drop in the price of oil. Fortunately housing is picking up again so there is hope for an offset but low oil prices are a net negative now for the US economy, not a positive.
    Jul 2, 2015. 08:51 AM | 7 Likes Like |Link to Comment
  • 2015 Second Half Outlook: Quadrophobia [View article]
    Unfortunately the western media is propagating a myth and that is that Putin is the aggressor. Reality is that the government in Kiev is the aggressor, their military was launched to enforce their will on their own people. When that population resisted, and effectively, they escalated using every more powerful military weapons to push their advantage. All Putin and the Russians in general did was level the playing field. Once Kiev's military advantages were negated their advances were halted and reversed. The reason for that is simple, Kiev's troops, except for the neo-Nazi faction, have very little interest in making war on their fellow citizens. The rebels on the other hand are fighting for their land and way of life, which is Russia centric.

    So while we have one warmonger in the US after the other claiming Putin is going to conquer Europe, the facts on the ground say something very different. Remember Georgia? That was back in the Bush years almost 10 years ago, Putin didn't go on to invade more countries shortly after that. Indeed, all Putin can be blamed of is defending Russian interests and ethnic Russians who 25 years ago were part of not only Russia but the Soviet Union.
    Jul 1, 2015. 11:03 AM | 1 Like Like |Link to Comment
  • 2015 Second Half Outlook: Quadrophobia [View article]
    I find it rather funny that Greece was running an account surplus and getting reamed by the EU while France, Spain and Portugal all have no hope whatsoever of running account surpluses even with 0% interest rates.
    Jul 1, 2015. 10:59 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    Yes, it is always bad when both sides compromise. When they do the total costs usually goes up even more. That is why compromise in DC is indeed a dirty word.
    Jun 30, 2015. 04:43 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    justaworkin, great insight. Though I think instead of a pay cut more likely they will not get pay increases till that is effectively accomplished.
    Jun 30, 2015. 04:41 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    chudzikb, true, but usually the big pilfering is in big cities and highly indebted states run by Democrats. So there is definitely a bias.
    Jun 30, 2015. 04:40 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    JC is probably cashing in on his big bet against Greece.
    Jun 30, 2015. 09:31 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    Bob, wouldn't be so sure on Obamacare. Apparently people only buy insurance if they get a big enough gift from the government. That means the death spiral has started and progressed.
    Jun 30, 2015. 09:30 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    BO, I would like to see a law passed by congress that any law they pass must be reauthorized after 30 years or expire. Man that would do a lot to reduce the size of government.
    Jun 30, 2015. 09:29 AM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    The move for OT by the president will be significant because it increases the number of salaried employees that qualify significantly. This of course will have to get businesses to focus on how they spend their salaried employees time if they wish to avoid those extra costs. Unfortunately this has likely been necessary because businesses went to the well once to often. During the economic crisis it was, I believe, acceptable to have salaried employees work more to help the companies survive. Unfortunately management simply seems to have taken that temporary gift and kept abusing it.
    Jun 30, 2015. 08:54 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Greece On Verge Of Default [View article]
    Usually the money is pilfered by well connected liberals who use it to enrich itself. Very little money from liberal policies actually makes it to those that they thought they were helping. The income tax refund was one new way to get around that.
    Jun 30, 2015. 08:51 AM | 10 Likes Like |Link to Comment
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