The U.S. labor market is seeing quite an inversion. Under President Joe Biden this year, the government has become the No. 1 job creator, But here is the deal: government payrolls were revised higher again. U.S. private jobs were revised down by 358,000 this year. Government jobs were revised higher by 52,000. Ouch.
Archives for August 2023
BRICS bank plans to issue first rupee bond in October
The BRICS’ (Brazil, Russia, India, China, and South Africa) New Development Bank intends to issue its first rupee bond in October, the latest stage in the global de-dollarization campaign. Before the bloc’s annual summit in Johannesburg, the NDB confirmed that a rupee-denominated bond would be issued in October, one week after issuing a rand bond. […]
China, Saudi Arabia cut U.S. government debt holdings in June: Treasury
In another signal that China and Saudi Arabia are trying to reduce their exposure to the U.S. economy, the two countries reduced their holdings of Treasury securities. In other words, Beijing and Riyadh decreased their holdings of U.S. government debt in June. According to the Treasury Department, China dumped $11 billion in Treasury securities, down […]
Money supply unexpectedly grows again, Fed data show
The Federal Reserve’s money-printing machines go brrrr … again. In June, the money supply expanded for the second consecutive month, totaling about $200 billion. While the percentage change from a year ago has been in contraction since December and has declined at the fastest pace since the Great Depression, the dollar figure has increased. And, […]
WATCH: Rachel Maddow interviews Hillary Clinton about Trump indictment, ‘election deniers’
MSNBC host Rachel Maddow sat down with Hillary “I Will Never Be President” Clinton. It was a strange interview because they were talking about election deniers. “If bad actors tell us falsely that every election is stolen and that the only way an election is trustworthy is that if they come out on top of […]