Jobs, Jobs, Jobs and a Legal Snow Job
Headlines this morning are all about jobs and about Alvin Bragg's snow job of a legal case.
A small change in the jobs market turns out not to have much more behind it than a mere revision in the way the Bureau of Lying Statistics revises its statistics for seasonal affects, but that still has the mainstream financial bubble writers poring over the possibilities that the job market is finally tilting and giving way to Powell’s pressure. More astute analysis says Powell’s pressure is cracking the economy badly before it even slightly fractures the faulty job numbers that he is, for a fact, using to gauge when the Fed should be turning down its tightening efforts.
As a result, the economy is in purgatory and screaming down a path toward earnings hell if Goldman Sachs is right. Small businesses that were, at best, borderline zombies, dependent on endless cheap debt refinance to stay afloat, are filing for bankruptcy at record rates. Profits are plunging into a drop-off as deep as the infamous Pandemic Plunge.
Meanwhile, Alvin Bragg’s snow job against Donald Trump is being taken apart by a lot more people after my own takedown yesterday as probably the most pathetic compilation of cobbled-together legal film-flam ever imagined to take down a former president hated by Bragg’s constituents. Alan Dershowitz says Bragg will easily win his case in the political theater of the NYC courts, but it will just as easily be tossed out on appeal for the sham that it is once it makes it outside of the theater capital of the world. As Ann Coulter says, Bragg has accomplished nothing more than to give Trump a likely-to-succeed narrative and theme for the ’24 campaign.
Economica (stocks in bondage, bonds in the stockade, market madness, etc.)
Is the Jobs Market About to Crack? Another Central Bank Holds Steady
It was the job market that had the Fed taking more risk to fight inflation even after something broke
Layoffs up fivefold this year with tech leading way
US weekly jobless claims fall, but revisions to the revisions signal cooling labor market
This is Still the Most Astonishing Labor Market
Recession fears move back to forefront of markets: “We are going to see parts of the economy break.”
Small Businesses File For Bankruptcy At Record Pace
US Profits Set for Pandemic-Sized Plunge, Goldman Strategists Say
Money Matters (monetary policy, gold, silver, cryptos & currency wars)
Australian regulator cancels Binance’s license at exchange’s own request
War, Cyberattacks, Civil Conflicts & Unrest
Finland Buys Israel’s David’s Sling for Huge Air Defense Upgrade
Macron Urges China’s Xi to Help; Ruble’s Slide
China vows ‘forceful’ measures after US-Taiwan meeting
Taiwan watching Chinese movements after Beijing denounces US Speaker meeting
USS Nimitz, China’s Shandong Both off East Coast of Taiwan
Politics & Social Decay
Love Trump or Hate Him, Bragg’s Case Is Incoherent
Ann Coulter: The left’s sole objective is to make Trump the GOP’s 2024 presidential nominee
Trump Calls to Defund the Police After His Own Arrest
Stormy gives first TV interview after arrest
Report shows astonishing depravity in abuse of 600 in Baltimore's Catholic archdiocese
Globalism, Authoritarianism, Invasive Government & Censorship
Twitter no longer policing Russian and Chinese state-backed media
Winds of Change (extreme weather, climate change & green energy)
A Pox Upon Us (the plagues & pandemic policing of the 2020’s)
Anti-vax activist RFK Jr. challenging Biden for presidency in '24
Off-the-Beat or Just Plain Offbeat News
Real-life Pope’s Exorcist sees patients levitate, spit nails