The story behind the government’s July employment report

The story behind the government’s July employment report

On August 5, President Joe Biden celebrated July’s better-than-expected employment report, calling it “the result of my economic plan to build the economy from the bottom up.” Although the White House initially predicted a lower figure, the Biden administration and other Democrats in Washington celebrated the numbers. The main figure of 528,000 new jobs last … Read more

Why traders started unloading crude

Why traders started unloading crude

US West Texas Intermediate crude oil futures are trading lower on Friday shortly after the release of a US Nonfarm Payrolls report suggesting the US is not in a recession and the Fed is likely to continue on its aggressive path of rate hike. Prices came under pressure this week as traders were worried about … Read more

The roaring job market puts “boom inflation” back on the investor map

The roaring job market puts “boom inflation” back on the investor map

Instead, concern has shifted to what a booming labor market and rising costs for everything means for stocks and bond portfolios, particularly if it morphs into a resilient mix of higher growth and inflation. How to call such a scenario? “Boomflation,” said Kent Engelke, chief economic strategist at Capitol Securities Management, indicating that annual wage … Read more

Fears of recession are taking hold of the oil markets

Fears of recession are taking hold of the oil markets

Oil prices have returned to the levels they were at before Russia invaded Ukraine, highlighting that a global recession and the destruction of demand are now the central focus of traders. Oilprice Alert: This month’s Intelligent Investor column, now available to Global Energy Alert members, compares two of the most promising Canadian oil stocks on … Read more

Opinion: Four tales that stock market investors and policy makers tell each other

Opinion: Four tales that stock market investors and policy makers tell each other

LONDON (Project Syndicate) – Do you believe in fairy tales? If so, you could probably earn well as a financial trader or gain power and prestige as a central banker nowadays. While annual inflation in the US, eurozone and UK has risen to 40-year highs and is likely to reach double digits after the summer, … Read more

Gas is approaching $ 4 a gallon, but hurricane season could bring new pain

Gas is approaching $ 4 a gallon, but hurricane season could bring new pain

The average gas price is approaching $ 4 a gallon nationwide, part of a nearly 60-day drop from unprecedented highs earlier this year. However, experts say Mother Nature could push prices up quickly as hurricane season on the Gulf Coast picks up. As of Wednesday, the national average for a gallon of gas was $ … Read more

In redefining the recession, Democrats are turning to confusing math and government via gaslighting

In redefining the recession, Democrats are turning to confusing math and government via gaslighting

The term “fuzzy math” was first introduced during the 2000 presidential campaign by Republican candidate George W. Bush. He used it to describe Democratic candidate Al Gore’s criticisms of Bush’s economic proposals regarding tax cuts and how to spend a budget surplus. Fast forward to 2022 and fuzzy math has been reintroduced into our politics. … Read more

It’s worse than anyone wants to admit

It’s worse than anyone wants to admit

Comment Yesterday’s news was entirely consumed in the throes of another change of definition. What everyone understood as what it means to be in a recession was suddenly changed by the government’s edict. It is not a recession, they say. Everything is going great, they say, unless you are among the troglodytes who crave energy, … Read more

Trump warns that something worse than recession is coming

Trump warns that something worse than recession is coming

Former President Donald Trump has warned that the US economy is on track for a disaster bigger than a recession, with his remarks coming just before government statistics showed negative GDP for the second consecutive quarter, which is a practical definition for a recession. “Where we’re going now might be a bad place,” Trump said … Read more

Is Jerome Powell as wrong on the job market as he is on inflation?

Is Jerome Powell as wrong on the job market as he is on inflation?

Now we know. The economy contracted for two consecutive quarters, falling by a modest 0.9 percent in the second three months of the year after a 1.6 percent decline in the first quarter. That doesn’t mean, the White House argues, in a ridiculous effort to spread the bad news, that we’re in a recession. No … Read more