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We’re Starting to Feel Like There’s Nothing Left to Lose
We’re Starting to Feel Like There’s Nothing Left to Lose Striketober is just the beginning. Adobe Stock They wouldn’t pay me. “If you forgot to clock in, then you didn’t work.” One night, I stayed late to help clean up the kitchen. We were understaffed again, as usual. The manager clocked us out 30 minutes […]
Chokepoint democracy: Workers capitalize on global system weak spots
Chokepoint democracy: Workers capitalize on global system weak spots In his book Carbon Democracy Timothy Mitchell attempts to explain the rising and falling political power of the working class in terms of the evolution of the world’s energy system. The first fossil fuel, coal, required hoards of men (and it was almost exclusively men) to bring […]
Closer to the edge
Closer to the edge There may well be worse to come. With the end of the various government support schemes, redundancies have shot up once more. According to the BBC:Earlier this year when the establishment media was running fear stories about excess savings, the opening up of the economy was predicted to result in a massive […]
That Untraversed Land
That Untraversed Land It’s been just over a month since I started talking about how the predictions set out in 1972 by The Limits to Growth were coming true in our time. Since then the situation has become steadily worse. As I write this, rolling blackouts are leaving millions of people in China to huddle in the dark and […]
Biden’s Crime Against the Economy
Biden’s Crime Against the Economy I try to keep politics out of my economic analyses, and my approach is non-partisan. But sometimes I can’t avoid it because political policies can have significant economic impacts. Today is one of those times. One of Joe Biden’s first acts as President was to kill construction of the Keystone […]
Say Goodbye To Millions Of Jobs As Events Unfold
Say Goodbye To Millions Of Jobs As Events Unfold Society Needs Good Jobs Many jobs will not be coming back after the covid-19 crisis ends. We can say goodbye to millions of jobs as events unfold and markets evolve. Millions of small businesses being decimated by Fed policies that favor huge companies coupled with a surge […]
Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. Labor Department Nails It
Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. Labor Department Nails It Labor Department today: People on state & federal unemployment insurance jumped to 31.5 million, worst ever. Bureau of Labor Statistics today: 4.8 million jobs created, unemployment dropped by 3.2 million. BLS under-reported unemployment […]
Week 9 of the Collapse of the U.S. Labor Market: Still Getting Worse at a Gut-Wrenching Pace
Week 9 of the Collapse of the U.S. Labor Market: Still Getting Worse at a Gut-Wrenching Pace Federal Pandemic Unemployment Assistance (PUA) for gig workers doubles initial claims under state programs. Here are the “Insured Unemployment Rates” for each of the 50 states & DC. The moment the unemployment crisis stops getting worse and bottoms out […]
Job Loss Disaster Slams Low-Wage, Young Workers
Job Loss Disaster Slams Low-Wage, Young Workers April numbers show three million lost jobs, while another 2.5 million people had their hours cut in half. We thought the March jobless numbers were bad, but it is almost a good news story compared to what we saw Friday in the April figures. The unprecedented closure of major sections […]
Economy Still Falling Off a Cliff – John Williams
Economy Still Falling Off a Cliff – John Williams Economist John Williams says don’t put too much faith in the good employment numbers that came out last week because “It’s not as happy of a picture as it looks.” Williams is the founder of ShadowStats.com. His calculations strip out government accounting gimmicks to give a […]
Canada Catches America’s Cold – PMI Plunges To 4 Year Lows
Canada Catches America’s Cold – PMI Plunges To 4 Year Lows As goes America, so goes Canada it seems. Following the collapse in both Manufacturing and Services survey data in the US, Canada’s PMI just collapsed most since Feb 2016, back into contraction for the first time since March 2015. From a 12-month high of 60.6in […]
Icebergs and bankers
Icebergs and bankers On Saturday March 16, tens of thousands of people marched through the streets of Paris demanding action on climate change. At the same time and not far away, a group of gilets jaunes protestors were demonstrating, sometimes violently, against the economic policies of President Macron—one of which increased the tax on gasoline and diesel […]
Weekly Commentary: Global Markets’ Plumbing Problem
Weekly Commentary: Global Markets’ Plumbing Problem “Goldilocks with a capital ‘J’,” exclaimed an enthusiastic Bloomberg Television analyst. The Dow was up 747 points in Friday trading (more than erasing Thursday’s 660-point drubbing) on the back of a stellar jobs report and market-soothing comments from Fed Chairman “Jay” Powell. December non-farm payrolls surged 312,000. The strongest […]
Dear Canada, WTF?
Dear Canada, WTF? Just hours ago, The Bank of Canada held rates steady and complained about various internal and external factors that were negatively impacting the Canadian economy… Holding rates unchanged at 1.75%, the BOC cited almost everything that has gone wrong: moderating global growth, a “materially weaker” outlook for the oil sector, a faster-than-expected […]
Climate Jobs for All
Climate Jobs for All Building Block for the Green New Deal It was an iconic moment: Young people occupy Rep. Nancy Pelosi’s office demanding a Green New Deal to put millions of people to work making a climate-safe economy — when suddenly newly-elected Congressional representative and overnight media star Alexandria Ocasio-Cortez joins them with a resolutionin […]
