Thursday, May 16, 2019

Jobless claims return to pattern, coming in under levels a year ago at the same time

Except in the seasonally-adjusted 4-week moving average, obviously, where the recent upticks above levels a year ago at the same time are working their way through the average.




Monday, May 13, 2019

Labor's share of income nosedived in the '90s after NAFTA, briefly recovered and then tanked as globalization/China took over

Do you feel richer? Well do ya?

Employers call all the shots, and you get the crumbs from your masters' tables, if you are lucky. 

Stop voting for the free-traders and libertarian lunatics of the two major parties.


Neel Kashkari and other Fed members seem aware at least of the nosedive in labor's share of business income, but are oblivious to its roots in globalization

Fooling around with interest rates isn't going to bring back the core manufacturing businesses which once formed the hubs of American middle class prosperity. That will be just as ineffectual as it has been throughout the Obama administration. Why should it work now all of a sudden when it hasn't worked for ten years?

Well, what else would you expect from the man tasked with implementing the useless TARP sideshow?

Neel Kashkari still hasn't got a clue, but he sure does sound like the workers' friend.



Minneapolis Fed chief links rates to labor share in interview

Kashkari’s break from Fed tradition on inequality adds to the case for keeping interest rates low. He suggested faster wage growth and low unemployment may not be putting much upward pressure on inflation because workers have lost a lot of their bargaining power in recent decades, echoing a point Fed Vice Chairman Richard Clarida has made. ...

Ed Morrissey remembers Doris Day, who has passed away at 97



Friday, May 10, 2019

CNN quotes Joe Biden saying the same things as Donald Trump: "tons of everything from byproducts for methamphetamine to cocaine to heroin and it's all coming up through corrupt Mexico"

Joe Biden once said a fence was needed to stop 'tons' of drugs from Mexico

Joe Biden November 2006 Columbia South Carolina: I voted for 700 miles of fence, but we need to punish employers of illegals

"Folks, I voted for a fence, I voted, unlike most Democrats -- and some of you won't like it -- I voted for 700 miles of fence," Biden told the group. "But, let me tell you, we can build a fence 40 stories high -- unless you change the dynamic in Mexico and -- and you will not like this, and -- punish American employers who knowingly violate the law when, in fact, they hire illegals. Unless you do those two things, all the rest is window dressing."

Joe Biden 2007: Send employers to jail for knowingly hiring illegal aliens

Joe Biden September 2007 Dartmouth College New Hampshire: No to sanctuary cities