On Monday, my "question of the day" was What will the unemployment rate look like for the rest of the decade?
Click on the above link to see an interactive map that lets you select the rate of job growth up to January of 2020.
Jon Chait did a very funny job taking apart David Brooks's column on reconciliation. I want to do a serious job on it. The factual statements Brooks uses in his argument are wrong. Not arguable, or questionable, or suspicious. Wrong. And since everything else flows from those wrong facts, the rest of the column can't be taken seriously.
I saw the documentary "Inside Job". It covered corruption in the financial industry, and the housing bubble/bust/bailout.One thing overwhelmingly impressed me. Every single person interviewed in the film had the parasitic or psychopathic personality type. Even the people saying "WTF? There's too much corruption!" had the parasitic personality type.Some parasites go around saying "WTF? This is wrong!", just to provide cover for the other parasites. "Inside Job" was a very weak criticism of the financial industry, compared to my blog.
Critics point to "job-hopping" — a tendency to frequently change jobs — as a sign that the millennial generation is flighty, unable to commit, and self absorbed; all of the stereotypes that we hear in the media.
Tonight Irish betting site InTrade announced on its website that all trading was being halted. The language is very ominous. It's unclear if there will ever be trading again. The site was controversial. It was popular among pundits and amateur fans of US politics, as it allowed people to place bets on various real-life event outcomes (Would Obama win? Who would be the GOP nominee? Will the Supreme Court uphold Obamacare).
Guru's blog in Spanish highlights the dramatic retail spending situation in Spain.
Here is a Mish-modified translation.
Last month I discussed the retail drama in Spain.
March data is more of the same. Sales have fallen 33 consecutive months coupled with 56 months of job destruction.
By Trim Tabs:The BLS August jobs numbers are in and they reported the U.S. economy added a positively dismal 96,000 jobs. Meanwhile, we reported August job growth was 185,000, nearly twice what the BLS reported.I answered a zillion calls in the past couple of days inquiring about our employment number, then another zillion calls Saturday morning asking why our numbers were WRONG. I don't mean to be miss snub-nosed contrary here, but I am frustrated by the lack of understanding of what we are reporting.