The Fed say this labor market remains robust? Zero job growth YOY? They're blinder than a bad baseball umpire.

Anyone who kills their own children should receive the death penalty Crazy or not Murdering your own children is pure evil Our society is declining at an appalling rate

The only employment sectors with gains in last year were healthcare (gov spending) and construction (data centers). This is not a broad healthy job market

this is the kind of stuff i wish trump would do 20X more of. the US economy has become moribund beneath regulation and monopoly/oligopoly around SO many core industries. free commerce and watch the economy soar. this sort of crap is costing us 200bp of GDP growth a year. that extra 2% annually results in an economy 150% the size over 50 years. this is the way forward.

pretty sure it's deflation that caused the real problem

Another really amazing pandemic clip. October, 2021. CNN sends a reporter to Miami to investigate a school that is considered "anti-vax." While there the reporter runs into a parent who says that he is not going to have his children get the Covid vaccine. While being harassed by the CNN lackey, the parent says that fully vaccinated people are still dying from Covid and that Fauci is not the best scientist in the world. The CNN clown scoffs at him and tells him he is wrong. This exact same week the former head of the CDC Robert Redfield said that more than 40% of people who died from Covid over the past 6-8 weeks in Maryland were fully vaccinated. Soon after, the CEO of Pfizer said publicly that two doses of the vaccine offered almost no protection at all against Covid. The parent was right. The arrogant CNN reporter was wrong.

If inflation were transitory this is exactly what you would expect the chart to look like. Or maybe it is.

The core CPI is running at the grand total of a +1.6% annual rate over the three months to July. The comparable this time last year was +2.7%. Inflation did show up last month in computers (thanks Apple!), airfares, toys, appliances, and used cars. But it didn’t show up anywhere else. The inflation-phobes will have to change their story at some point, and the three Fed dissenters will be pivoting before long.

What is a woman??? These discussions would be comedy gold

There has been essentially zero job growth and zero real personal income Ex transfer payments in the last year. So who is missing the economic forest for the trees??

The Fed Has Lost the Plot The Fed should be cutting toward neutral, not muttering about higher-for-longer while the economy plainly weakens. President Trump is right on rates: monetary policy is too tight for the economy we actually have, not the one Wall Street keeps imagining. AI and Supply Side policies that are non- inflationary are generating growth. While the interest rate sensitive sector is being hammered by a misdiagnosis of inflation by the Fed! What makes the report so damning is not simply the headline miss, but the humiliation of the consensus. Wall Street and too many voting members of the FOMC spent weeks warning about Supply Shocks, sticky inflation and flirting with further tightening. They were staring at stale numbers, showing a lack of subject matter expertise and calling it prudence. Kevin Warsh has been right on the larger point. The Fed relies too heavily on lagging, mismeasured government data and then acts with false confidence. July’s revisions are a case study in exactly that failure: policymakers and markets built a hawkish narrative on numbers that were wrong. The 4.1 percent unemployment rate offers no refuge. Participation has fallen to 61.4 percent, the employment-population ratio has dropped to 58.9 percent, and the labor market is weakening through absorption before mass layoffs. Payrolls fell by 23,000, and May and June were revised down by a combined 103,000, a rewrite that leaves the prior 12 months averaging just 34,000 jobs a month. The July report did not suddenly break the labor market; it exposed how soft it already was. Government jobs fell 53k. Entire loss of jobs was in gov - not a bad thing. There is also a global cost to this mistake. U.S. rates that remain too high relative to Japan intensify the rate differentials that feed stress in the yen carry trade, encouraging leverage on the way up and disorderly unwinds on the way down. Warsh gets it. As does Bessent and Trump. Wall Street and much of the FOMC have lost the plot. The Fed should stop shadowboxing yesterday’s inflation scare and cut toward neutral. Yes, US should have the lowest rates. The sooner Powell’s mistakes are reversed the better.

I see many allies (former allies?) who have been railing against Jay Bhattacharya. You are sorely off base. We loved Marty - he's gone. We loved Vinay - he's gone. We loved Tracey - he's gone. For whatever reasons they were unable to sustain their presence in the current system and now... they can do nothing but watch. Consider what Jay has done in his short tenure: - Made taxpayer-funded NIH research available to the public. nih.gov/about-nih/nih-direct… - Launched an agency-wide push to make replication and reproducibility a real part of scientific research. nih.gov/replicationandreprod… - Put NIH institutes under a more unified funding strategy, no more pet-funding silos nih.gov/about-nih/nih-direct… - Changed the rules for foreign research funding so overseas institutions can’t simply receive NIH money through subawards nih.gov/about-nih/nih-direct… - $50 million autism data-science initiative to nih.gov/news-events/news-rel… - Built a new NIH-CMS partnership to study real-world health data from Medicare, Medicaid, medical records and other sources. nih.gov/news-events/news-rel… - moved NIH toward human-based research technologies rather than relying so heavily on animal testing. nih.gov/news-events/news-rel… - Created a new NIH office specifically charged with reducing animal use.nih.gov/news-events/news-rel… - Published an NIH-wide “Gold Standard Science” implementation plan nih.gov/about-nih/nih-direct… Whatever you think of the politics, this is a major change in direction at the NIH and it happened remarkably quickly. rationalground.com/p/the-man…

The macro bulls are doing their best to paint lipstick on this pig of an employment report, with both the payroll and household surveys showing contraction. The mantra is that the data were distorted by the World Cup effect that apparently was the only reason that state and local government payrolls were down -50k and leisure/hospitality off -40k. But even when you account for these and then adjust for the Birth-Death model and double-counting from the surge in multiple-job holders, payrolls sagged -138k. And then we have the huge negative back revisions to consider that took the YoY job trend to a microscopic +0.2%. Wage growth nearly flatlined last month to boot, and the YoY trend has melted to a five-year low. No way the Fed should be tightening next month and the three dissenters need to head back to the drawing board.

Some say Americans won’t do difficult jobs. 🔥🇺🇸 I beg to differ. Photo credit: US Fish & Wildlife

CORRECTION: Dale 2048 🇺🇸. I have young children whom I would like to see grow up before I get assassinated. FWIW, throughout history, people who “red pill” the system tend to get assassinated: the Gracchi brothers, Abraham Lincoln, Mahatma Gandhi, Huey Long, JFK, MLK, etc. THEY—the billionaires and trillionaires who have purchased controlling stakes in Congress, the White House, the Supreme (and lower) Court(s), AND THE MEDIA—have a deeply vested interest in preventing the following: 1. Campaign finance reform so that every citizen’s vote actually counts as one vote, rather than preserving the current system whereby the top 1% pay top dollar to rig election outcomes, legislation, and regulation on their behalf AT OUR CHILDREN’S EXPENSE. 2. A single flat tax that treats every dollar of realized income the same. 3. No tax loopholes to favor certain activities and interests, or to promote certain behaviors. As far as I’m concerned, the desire for people to procreate with desirable partners and take adequate care of their families—both while alive and posthumously—is genetic. You don’t need to corrupt the tax code to promote these outcomes. Human beings will do these things regardless of whether there are tax “incentives” for them—which we know largely favor the rich. 4. Trust-busting to reduce the power of monopolies, duopolies, and monopsonies over our economy and promote inclusive innovation. 5. Mandating that the Fed target stability in the US dollar vs. a basket of commodities or a neutral reserve asset like gold, OR removing the Fed’s “maximum employment” mandate—the mandate that causes it to consistently justify debasing our currency and perpetuating the historic Cantillon effect that is destroying our society—if returning to a harder currency regime is too painful. These are the kinds of “radical” (read: common-sense) ideas that can get me killed if I’m not careful—hence waiting until 2048. “The Lord is my strength and my defense; he has become my salvation.” —Exodus 15:2 Jesus Christ and I love you and your children. Change your attitude towards our corrupt political system for them before it’s too late. Reminder: The US has already fought a violent, bloody revolution and a violent, bloody civil war because The People have generally agreed with me and not with The Privileged Few. Unfortunately, history confirms that revolutions and wars are ALWAYS much worse for BOTH sides than everyone realizes at the outset. I believe God pulled me up from the bottom 0.001% of the K-shaped US society to bring glory to Him by helping prevent this tragic outcome—or by helping our wonderful nation heal after it. I pray every day that I’ll be successful in either mission. With love, —Skipper ❤️+🤍+💙=💜

Cox is so hopeful about the future of Utah because of it's great students but he wants to import millions of illegal workers to compete with them for jobs and housing.

This cracks me up, becuase Nickyleaks blocked me ages ago for calling him a shill.

Guaranteed these short term visas would be turned into long term ones

Completely agree. Dr Bhattacharya is the man the media spent years pretending Fauci was. He is genuinely brilliant, extraordinarily articulate, intellectually honest, principled, and without Fauci’s insatiable need for attention, adulation, power, and personal glory. He is everything we were told Fauci was, except he actually is those things.

Still unvaxxed and totally relaxed.