Summary: Usually we can only guess at the motives of our senior officials. But on rare occasions they give us clues to their real priorities and objectives. The Fed is especially opaque, so we speculate about their odd rate increases during a slow and slowing economy. Yesterday Janet Yellen explained why. The answer is shocking … Continue reading Surprising revelation: Janet Yellen reveals why the Fed is raising rates!
Summary: Today we learn about all those open jobs for truck drivers, waiting for lazy Americans (or more immigrants) to fill them. It is another bogus "skills shortage" story, revealing much about how America is changing. The road to larger trucking industry profits. The plutocrat revolution against America has many fronts. One of the most important is their … Continue reading So many open jobs for truck drivers! It’s another bogus skills shortage story.
Summary: We begin the Trump years with generations of progress unraveling in the healing of America's racial divide, with the likelihood of further deterioration quite high. We should understand what's happening to better prepare for what's next. A new study looks at the causes of the widening income gap between black and white Americans. It … Continue reading Warning: the income gap between races is widening in America
Summary: I try to bring readers useful and interesting expert opinion. Here's a mother lode of insight about immigration -- articles by Harvard professor George Borjas. His work is essential reading to understand the rise of populism in the US and Europe (it's not just racism and xenophobia, as our elites would like you to … Continue reading A Harvard Professor explains the populist revolt against immigration & globalization
Summary: The jobs report is a monthly gift for journalists and economists. Packed with numbers -- mostly noise, with large error bars, subject to big revisions -- it generates a flood of clickbait headlines and confident analysis. Lost in this are the important trends we need to know (aka "old news", because they change slowly). … Continue reading You need to know 2 things about the June jobs report (neither is often mentioned)
Summary: Why did UK elites have a hysterical reaction to the vote for Brexit? There is not one answer. Andrew Fentem (engineer, inventor) explains one logical answer: it threatens their supply of cheap workers. Also, I recommend putting The Register on your reading list if you are interested in the IT industry (changing times requires new … Continue reading A UK engineer explains: elites oppose Brexit because they import cheap workers
Summary: After years of disappointment, a happy few retain their optimism about the US economy's growth -- including many of the Fed's governors, hence their enthusiasm about raising interest rates. Here you'll see one reason they're excited, the sad reality behind it, and the logical but dark conclusion. Business Insider said "Job openings rise … Continue reading Why the Fed is excited about US growth. Why they’re wrong.