December 16
The Fed Should Look at Private-Sector Jobs Growth | Wolf
and Not Get Distracted by the Massive Federal Government Job Cuts. It’s not the Fed’s job to worry about employment growth at the federal government. Over the September through November period, the private sector added 225,000 jobs, which pushed the three-month average job growth in November to 75,000, the highest since May
Federal government employment is down by 271,000 since reaching a peak in January. | PL cites BLS
“The EU should be abolished and sovereignty returned to individual countries, so that governments can better represent their people.” - Elon Musk
Trading Forex WSJ Yahoo
Stocks Extend Losses As White House Threatens Retaliation Against 'Unreasonable' EU Digital Tax | Zero
Atlanta Fed Q3 GDPNow forecast 3.5% vs 3.6% previously
United States has collected more than $200 billion in tariff revenue so far this year CFP
S&P FX Gold Oil 10Y BTC USH
S&P is down 0.4% | 14:28
Gold is down $3
10Y is lower by 1.7bp to 4.164%
WTI crude touched $55.10, now at $55.25
Dollar is down 0.06
Gasoline Tumbles to Nearly 5-Year Lows
This was a weak employment report. | Calc
Unemployment rate 4.6% vs 4.4% expected. Highest level since 2021, signaling a cooling labour market
November non-farm payrolls +64K vs +50K expected
November Jobs Stronger Than Expected But Unemployment Rate Jumps To 4 Year High | Zero
Naturally, the negative revisions continued: the BLS also reported that the change in total nonfarm payroll employment for August was revised down by 22,000, from -4,000 to -26,000, and the change for September was revised down by 11,000, from +119,000 to +108,000. With these revisions, employment in August and September combined is 33,000 lower than previously reported.
The Separation of Powers Is (Almost) Dead
Congress is no longer a safeguard of American democracy. Congress has lost its constitutional role to shape and constrain executive power. That’s been underway for years, but the Trump administration has cemented it. The shift is so deep and profound that it will be very, very hard to get the Constitution back to the balance that Madison designed.
The Comcast spinoff Versant debuted in very thin trading today. | Forex
It includes the cable networks (CNBC, MSNBC, USA, etc.), which are its lowest-multiple assets. The shift explains the hasty CNBC logo change to start the week.
Retail sales stalled in October versus 0.1% estimate
Zero: Retail Sales Control Group (which excludes food services, auto dealers, building materials stores and gasoline stations) - which feeds into the GDP calc - surged 0.8% MoM - double expectations and the biggest MoM jump since June...
The inflation data in the U.S. is a joke and has been for years.
So, the current inflation debate at the Fed is basically a bunch of white-collar intellectuals arguing over their interpretation of imaginary entity like the tooth fairy. The reality is that ALL of the inflation data is in the U.S. is designed to do one thing: understate the true rate of inflation to hide the fact that living standards have declined in the U.S. for decades.
CPI on Thursday: headline +0.3% and core +0.2%. Headline +3.1% yoy and core CPI +3.1% yoy
"No" To Article 5-like Security Guarantees
The idea of offering unilateral US security guarantees to Ukraine is an appalling idea that risks war with Russia. It means the US is willing to go to war to defend Ukraine, and gives the Ukrainians a license to stir up trouble, instigate provocations, and drag America into a confrontation with Russia.
Ford Takes Record $19.5 Billion Charge As EV Bet Implodes, Pivots To Hybrids
Felony stupid in Dearborn. As the Wall Street Journal noted, “The sum is among the largest impairments taken by a company and marks the US auto industry’s biggest reckoning to date that it can’t realize its electric-vehicle ambitions anytime soon.” Anytime soon? How about never? Does never work for you?
Fears Rise Kiev May Face Total Blackout | Simpl
US Offers Ukraine NATO-Style Security Guarantee, Making Peace Deal With Russia Unlikely | Anti-War
Supertankers Bound For Venezuela Make U-Turns, Fearing US Interdiction | Zero
DID SOME GUY ON TWITTER FIND THE BROWN SHOOTER FIRST? | Burn
Immigrants Once Avoided Some Regions of America. That’s a Big Reason We’re So Divided.
Today’s debates over immigration and assimilation have their roots in patterns of settlement that go back centuries. The Identities of the ‘American Nations’
10 Regional U.S. Slang Words You Should Know
Yinz – Pittsburgh, Pennsylvania
Donald Trump disgraced himself and the Office of the Presidency with his Truth Social post reacting to the murder of Rob Reiner and his wife. What a pathetic narcissist | John
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