March Madness! No Not Basketball
The notion that the labor market has improved so dramatically as evidenced by the decline in the official unemployment rate is one of the most specious of all claims by all those that would wish to maintain the illusion of economic recovery. ... more
Trial By Fire: A Brief History Of Fed Heads
It seems that, since the Fed became more active in the markets over the years, not only have bigger bubbles and busts occurred, but each subsequent cycle required an even larger bubble to try to ameliorate some of the effects of the previous bursting. It is rather easy to understand why many blamed Alan Greenspan for the crash of 1987. After all, the market had been cruising along, making regular new highs year after year, finally peaking during the period in August 1987. Then, in early September the Fed elected to raise the Discount Rate and increase the Federal Funds target rate. Less than two months later, the market experienced the largest one-day crash ever. ... more
If The Facts Bother You, Just Ignore Them!
According to the Bureau of Labor Statistics (BLS), the number of unemployed persons declined by 490,000 in the month of December, 2013. Does that mean, as some would interpret this data, that the reason for this decline was due to massive job growth? Unfortunately not. The reality is that, once again, the labor force participation rate declined further, moving to a fresh 36 year low.... more