The Employment Situation – November 2024: Total nonfarm payroll employment rose by 227,000 in November 2024, and the unemployment rate changed little at 4.2 percent. The U.S. Bureau of Labor Statistics reported on December 6, 2024. Employment trended up in health care, leisure and hospitality, government, and social assistance. The December 2024 report should be […]

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In a Six-Week Span, this Dark Pool with a Curious Past Traded 3.7 Billion Shares

By Pam Martens and Russ Martens: January 6, 2025 ~ There is a precise date as to when the American public became overtly aware that the stock market structure had become outrageously rigged. That date is March 30, 2014 when famed author and former Wall Street veteran, Michael Lewis, went on 60 Minutes to proclaim: “The United States stock market, the most iconic market in global capitalism, is rigged.” When asked to explain just who it is that’s rigging the stock market, Lewis explained that it’s a “combination of these stock exchanges, the big Wall Street banks and high-frequency traders.” That 60 Minutes program occurred during President Obama’s administration. Not only was nothing materially done to stop the rigging during Obama’s eight years in office, but the rigging has grown in both size and complexity since then as hedge funds and Dark Pools take over large segments of stock market structure. Dark Pools are … Continue reading →

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The next couple of years should be interesting as people wake up and realize what they did to themselves. Read on . . . The last time a presidential vote was certified, the losing incumbent attempted a coup against the United States. We must never forget his treachery. A day that shall live in infamy, […]

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Press Release: January 2, 2025 — The U.S. Census Bureau announced the following value put in place construction statistics for November 2024: Total Construction Construction spending during November 2024 was estimated at a seasonally adjusted annual rate of $2,152.6 billion, virtually unchanged from (±1.0 percent)* the revised October estimate of $2,152.3 billion. The November figure […]

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The Department of Veterans Affairs spent $301 billion in fiscal year 2023, a 70% increase over the past decade. Just some brief factual data. How much does the VA spend? USAFacts The Department of Veterans Affairs (VA) is the fifth-largest spender amongst federal agencies, accounting for 3.5% of federal spending in fiscal year (FY) 2023. Adjusting for […]

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One take on the BEA report that I read was as follows: “The US economy has had the strongest recovery from the COVID-19 pandemic of any major developed economy. Annual inflation is approaching the Federal Reserve’s target without a recession, non-managerial real wages have exceeded pre-pandemic trends, consumer spending is continuing to exceed expectations, investment […]

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I have heard or read a constant parade of how bad the economy was during Biden’s term in office. Yep, we did have inflation. It would have been great if we did not experience such. It was not in the cards this go around. Many other countries experienced similar. Politicians love to play the inflation […]

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I grew up in East Tennessee and graduated from UT-Knoxville in 1977. I recall the episode of the Snail Darter and the Tellico Dam project. The Darter was considered an endangered species at the time, and a lawsuit to protect it held up dam construction for awhile. In the event, the Darter was relocated and […]

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 – by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. Both the long leading and short leading indicators have weakened in the past two weeks. The former is due to the short end of the Treasury yield curve re-inverted. The latter is due in part to continued weakness in new jobless claims, […]

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With this commentary, we are discussing October/November 2024.The widespread belief was Biden’s Economy and it its progress over the last two years was weak. That is just false and yet the news media and Republicans made such claims and many people followed suit in belief. Yes we did have inflation, we did have supply chain […]

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Meanwhile while Musk and Ramaswamy are calling the American public names and demeaning their work ethic. House Republican Mikie Johnson runs into a wall due to stupid remarks . Calling Joe Biden a disgrace did not go over big. He was hit with pushback from all sides. No surprise here . . . Democrat influencer Harry […]

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When is enough, enough??? Clarence Thomas self-indulgence in gift giving is ignored claiming ignorance of such practices. A while back, a long while . . . I was given an invitation to the Chicago Bears holiday get together (called a dinner and a party) by Gale Sayers. The only problem with this being, I was […]

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According to recent reports, as of January 2025, US crude oil inventory is considered to be in a “good shape” with levels slightly below the five-year average. This indicates a comfortable supply situation going into the new year 2025. Recent inventory drops have been less than expected. Analysts are still cautious about potential future market […]

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 – by New Deal democrat Unusually this month, the ISM manufacturing index was delayed one day after the first business day of the month. In other words, it was released this morning instead of yesterday. In any event, a refresher that because manufacturing is of diminishing importance to the economy, and was in deep contraction both […]

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What the Science of Predators and Prey Tells Us About the Morbidly Rich and Working People, Tom Hartmann, The Hartman Report Nature and economics share some fascinating patterns, one of which explains why Donald Trump is about to become president and how the morbidly rich have appropriated over $50 trillion from working class people since the 1980s. […]

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Why Net Neutrality? “Former FCC Chairwoman Jessica Rosenworcel had called net neutrality “a necessity for daily life.” She said Thursday that Americans still want “fast, open, and fair” internet service and called on Congress to take action. The decision does not affect state laws in California, Colorado and Washington. Neutrality refers to the idea that internet […]

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Juan Cole has a recap of the 2024 global warming picture. It ain’t pretty: “The World Meteorological Organization projected total global carbon dioxide (CO2) emissions in 2024 to be 41.6 billion tons. Some 37.4 billion of that was from humans burning petroleum, fossil gas, and coal. The rest was from deforestation. 2024 was the hottest […]

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 – by New Deal democrat Last month I started by report on construction spending by writing “ Construction spending for October also came in generally positive. On a nominal basis, total construction spending rose 0.4% to a new record, and residential spending rose 1.5%.” Well, you can forget that, because this month was one of those […]

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Earned Labor Income Is a Small and Weak Lever. Unearned Property Income, and Wealth, Rule. – by Steve Roth Originally posted at Wealth Economics (Clicking (once or twice) on any of the pictures should enlarge them.) Economists and pundits have been cheered of late by the labor-share increase during the first couple of years of […]

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The Justice Department December 31 announced the Madoff Victim Fund (MVF) will begin the 10th and final distribution. Over $131.4 million to victims of the Bernard L. Madoff fraud scheme will be distributed in this segment. The funds were forfeit by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud […]

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