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The Great Labor Reset: Labor Laundering, Self-Sourcing, and Other Tales of Woe
By Rick Bookstaber
In a recent post I discussed the potential for long-term, structural unemployment, the possibility that some of what we are seeing in the unemployment picture will not be resolved by an economic upturn. The focus of the…
A more comprehensive look at the ECB’s OMT program
Last week I promised to provide a little more insight into what the ECB is doing with its OMT program and what this should mean for the euro, economic growth, and European sovereign bond markets. This weekly post is dedicated to that theme.…
Light data stream contrasts with heavy event risk
By Marc Chandler
The US dollar is consolidating last week's losses in largely uneventful activity. In fact, consolidation is the general theme in the broader capital markets as well. Equity markets are narrowly mixed, with the MSCI Asia…
Male labor participation rate in the US hits the lowest level on record
By Sober Look
Friday's employment figures were terrible across the board, although some have naively interpreted the decline in the headline unemployment rate (from 8.3% to 8.1%) as positive news. Unfortunately there is nothing positive…
Economic Surprise Index has turned positive
By Sober Look
The Citi Economic Surprise index was fairly accurate in pointing to a US slowdown in the first half of 2012. One therefore should not dismiss the recent reversal in the indicator's trend. The index just went into the positive…
Daily: Why Angela Merkel has hitched her wagon to the ECB
The weekly will be a more in depth look on the ECB but here's today's daily first. I will be on Headline with Howard Green on Monday at 1230 to talk about all the headlines of the day.
I just want to focus on one aspect of the euro crisis…
Jobs Data Disappoints, Ignore Drop in Unemployment Rate
By Marc Chandler
The US employment data is an important disappointment, especially coming on the heels of yesterday's ADP and service ISM reports that had lifted expectations. The private sector created a net 103k jobs, well below the 143k…
Daily: Amazon emerges as huge threat to Apple’s earnings growth
Amazon's announcement yesterday was a very big deal. Here's my daily today. It's on Amazon. I am doing this in two parts with tech articles in this one because I meant to post this part yesterday but I wasn't able to post after 2PM. The…
Michael Johns in 1996 on Balanced Federal Government Budgets
By Warren Mosler
This was written by Michael Johns. I saw him on C-Span, contacted him, and have been in touch ever since. Michael is a conservative, and one of the Tea Party founders. As you can see below, however, he too recognized the…
First reaction: The ECB’s OMT monetisation is for banks as much as sovereigns
Here are my first quick reactions to the ECB's new monetisation scheme. They have decided to buy bonds on the secondary market in potentially unlimited quantities up to three-year maturities for countries that submit to a Troika program.…