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Hmmm….
Weekly hours did not move; hourly wages were up two cents. There is a problem however — the diffusion index across all private employers was down four tenths to 56.4. So how did we get an increase? Manufacturing — surprisingly enough — had its diffusion index spike higher by 3 full points.
Let’s look at the household survey, because as I noted last month the establishment survey was markedly weak compared to the household, and the establishment survey is full of games (otherwise known as the “birth-death model” among other schemes.)
And in the household survey I do not like what I see.
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I often get questions about this or that related to various market moves and what I have repeatedly asserted is an ongoing economic depression we entered in 2008.
Many people doubt the truth, but arithmetic cannot be doubted. It just is; your options are to either accept it or deny it, but you can’t change it. And arithmetic says we’re in a Depression.
Let’s go through this one again. The real GDP growth is the red line. That’s simply the nominal number less government deficit spending. Why must you subtract it? Because if you don’t you are double-counting the government’s spending — you are at the same time counting both the debt issuance (which goes into the private economy) and the purchases by the government with the net debt issuance.
This is a distortion and you must subtract it back out.
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In all the years since D-Day, there are three occasions when the president failedto go to the D-Day Monument that honors the soldiers killed during the Invasion.Those three occasions were:1. Barack Obama 20102. Barack Obama 20113. Barack Obama 2012
Dr. Phyllis Chesler and Nathan Bloom discuss Hindu Honor Killings vs. Muslim Honor Killingsby lisarichardsusa |