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Tag Archives: Unemployment
Hundreds Of Thousands Stage Massive Street Protests In Brazil, In Loud Call For Rousseff’s Ouster
Hundreds Of Thousands Stage Massive Street Protests In Brazil, In Loud Call For Rousseff’s Ouster Back in August, we said that while there are all kinds of charts one could look at on the way to judging just how bad things have truly gotten in Brazil, the most important graphic of all may indeed be this one, […]
Norway’s Interest Rate Conundrum
Norway’s Interest Rate Conundrum Current Situation The ECB recently stimulated more than expected, cutting rates by five basis points and expanding quantitative easing. It is already expected that Norges Bank (The Norwegian Central Bank) will cut rates next week, seeing accelerating inflation as temporary. They have a 2.5% inflation target mandate “over time,” giving them lee-way. They see demand […]
Striking Admission By Former Bank Of England Head: The European Depression Was A “Deliberate” Act
Striking Admission By Former Bank Of England Head: The European Depression Was A “Deliberate” Act Once again we find that it is only after they leave their official posts that central bankers finally tell the truth. Last night, it was Alan Greenspan who blasted the state of the economy, saying that “we’re in trouble basically because […]
Fear The Smell Of (Monetary) Napalm In The Morning
Fear The Smell Of (Monetary) Napalm In The Morning Via ConvergEx’s Nick Colas, Warm up the choppers and put some Wagner on the loudspeakers – “Helicopter money” is a hot economic topic. That’s where central banks print money and either hand it to the government for things like infrastructure investment or just send it out […]
2016: The Year Wishful Thinking Fails
2016: The Year Wishful Thinking Fails If we collectively choose wishful thinking, catastrophic consequences are guaranteed. Wishful thinking has been an integral driver of the “recovery” 2009-2015:asset bubbles aren’t bubbles, central bank policies are brilliantly successful, unemployment has dropped to levels of full employment, and so on. The problems with wishful thinking that I describe in […]
The Age Of Stagnation (Or Something Much Worse)
The Age Of Stagnation (Or Something Much Worse) Excerpted from Satyajit Das’ new book “The Age Of Stagnation”, If you look for truth, you may find comfort in the end; if you look for comfort you will not get either comfort or truth, only . . . wishful thinking to begin, and in the end, […]
Husky layoffs confirmed as Calgary company continues cost-cutting
Husky layoffs confirmed as Calgary company continues cost-cutting Latest round of cuts hits Alberta’s energy industry as oil prices remain low More job cuts were announced for Husky Energy on Tuesday as the company looks to weather the current downturn. (CBC) Calgary-based Husky Energy says layoffs were announced today to ensure the company’s resilience during low oil […]
North Dakota’s Economy Has Been “Completely Devastated” By Oil’s Collapse
North Dakota’s Economy Has Been “Completely Devastated” By Oil’s Collapse Yesterday, on the way to documenting the malaise China’s hard landing has inflicted on Minnesota’s mining country, we discussed the dramatic impact falling crude prices have had on the American and Canadian oil patches. Take Texas, for instance, where a year of crude carnage has wreaked havoc […]
Canada lost 5,700 jobs in January
Canada lost 5,700 jobs in January Alberta had 10,000 fewer jobs, country’s unemployment rate inches up to 7.2% Canada’s jobless rate currently stands at 7.2 per cent after the economy lost 5,700 jobs last month. (LM Otero/Associated Press) The Canadian economy lost 5,700 jobs in January and the unemployment rate inched up to 7.2 per […]
Mass Layoffs To Return With A Vengeance
Eric Von Seggern/Shutterstock Mass Layoffs To Return With A Vengeance How safe is your job? Remember the mass layoffs of 2008-2009? The US economy shed millions of jobs quickly and relentlessly, as companies died and the rest fought for survival. Then the Fed and the US government flooded the banks and the corporate sector with bailouts and […]
Negative Interest Rates Already In Fed’s Official Scenario
Negative Interest Rates Already In Fed’s Official Scenario Over the past year, and certainly in the aftermath of the BOJ’s both perplexing and stunning announcement (as it revealed the central banks’ level of sheer desperation), we have warned (most recently “Negative Rates In The U.S. Are Next: Here’s Why In One Chart”) that next in […]
Alberta Loses Most Jobs In 34 Years As Oil Crunch Cripples Labor Market
Alberta Loses Most Jobs In 34 Years As Oil Crunch Cripples Labor Market Times are tough in Alberta and to be sure, we’ve piled it on heavy when it comes to cataloguing the long list of pitiable outcomes that have accompanied crude’s steep slide. The province is at the center of Canada’s dying oil patch […]
China Warns “Social Stability Threatened” As 400,000 Steel Workers Are About To Lose Their Jobs
China Warns “Social Stability Threatened” As 400,000 Steel Workers Are About To Lose Their Jobs In late September, we were stunned to read (and report) that in the first mega-layoff in recent Chinese history, the Harbin-based Heilongjiang Longmay Mining Holding Group, or Longmay Group for short, the biggest met coal miner in northeast China had […]
EI claims rose 9.2% in the year to November with Alberta hardest hit
EI claims rose 9.2% in the year to November with Alberta hardest hit More than 31,000 new jobless in Alberta as EI rolls climb to 544,200 There have been several rounds of layoffs in the oilpatch since 2014, with trades, transport, technical support, finance and management affected. (Todd Korol/Reuters) The number of Canadians receiving employment […]
Canada’s “Other” Problem: Record High Household Debt
Canada’s “Other” Problem: Record High Household Debt Earlier today, the Bank of Canada surprised some market participants by failing to cut rates. True, the loonie was plunging and another rate cut might very well have accelerated the decline, further eroding the purchasing power of Canadians who are already struggling to keep up with the inexorable rise […]
