Up, Up, and Away

The unemployment rate is a mere 3.6 percent. There are 11.4 million job openings, almost two for every person looking for work. We have added over one million jobs in the past 90 days. Jobs are so readily available that 20-25 percent of candidates don’t show up for interviews, even if offered cash to appear. […]

Dimon Makes Hurricane-Force Remarks, Musk Fires A Shot And Workers, CEOs See Hard Times Ahead As Their Compensation Rises

Last week the President summoned Fed chair Jay Powell and Treasury Secretary Janet Yellen to the White House for a photo-op. Biden reaffirmed Powell’s independence and blamed inflation on Putin, never mind that the annual inflation rate hit 7 percent before the Russians invaded Ukraine. Yellen blamed her mistake in thinking inflation “transitory” on unforeseeable […]

Bulls Gore Bears, Who Sharpen Claws for a Return Match

On Friday, May 20, share prices dipped into what is called bear territory, 20 percent below the previous peak. This was a very short, intraday dip, that missed the 20 percent by a bit, but it rattled investors. Wall Street zoologists say a bear market is driven by investors who expect share prices to fall, […]

Inflation Rages, Americans Fume, The Fed Fumbles, Three Joes

“Inflation rate drops”, or “Inflation rate remains elevated,” choose your headline to describe a change in America’s inflation rate from 8.5 percent in March to 8.3 percent in April. This change in the number following the decimal point after an 8 is of no policy consequence. It can’t change the important fact that seven-in-ten Americans […]