U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019.
The Labor Department’s closely watched monthly employment report on Friday came against a backdrop of a steep sell-off on Wall Street and a partial inversion of the U.S. yield curve, which have stoked fears of a recession.
“This is still a solid gain that suggests economic growth is gradually slowing back toward its potential pace,” said Paul Ashworth, chief economist at Capital Economics in Toronto. “There is nothing here to suggest the economy is suffering a more sudden downturn.”
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It looks like the turmoil for the financial markets is going to continue to get worse, and the mainstream media is really starting to freak out.
Just a few months ago, they were continuously using the word “booming” to describe the state of the U.S. economy and they were assuring us that the stock market was going to continue to go up. But after a couple of really bad months, there has been a dramatic psychological shift. Instead of telling us that everything is going to be great, now the mainstream media is starting to sound just like The Economic Collapse Blog. For example, Bloomberg just posted an article with this rather startling headline: “It’s the worst time in decades to make money in the markets”…
American taxpayers will be hit with the hefty hospital bill and be forced to pay for her anchor baby’s entire life.
From The Daily Mail:
A 19-year-old Honduran woman who wanted to give birth to her second child in the United States had a son within 24 hours of climbing the border wall.
Maryury Elizabeth Serrano-Hernandez, 19, went into labor November 27, less than 24 hours after she climbed over the border fence in Tijuana with her husband, 20, and two-year-old son.
Vibrant competition is absolutely essential in order for a capitalist economic system to function effectively.
Unfortunately, in the United States today we are witnessing the death of competition in industry after industry as the biggest corporations increasingly gobble up all of their competitors. John D. Rockefeller famously once said that “competition is a sin”, and he was one of America’s very first oligopolists. According to Google, an oligopoly is “a state of limited competition, in which a market is shared by a small number of producers or sellers”, and that is a perfect description of the current state of affairs in many major industries. In early America, corporations were greatly limited in scope, and in most instances they were only supposed to exist temporarily. But today the largest corporations have become so huge that they literally dominate our entire society, and that is not good for any of us.
Just look at what is happening in the airline industry. When I was growing up, there were literally dozens of airlines, but now four major corporations control everything and they have been making gigantic profits…
The United States Postal Service should have more flexibility to raise rates for packages, according to recommendations from a task force set up by President Donald Trump, a move that could hurt profits of Amazon.com Inc and other large online retailers.
The task force was announced in April to find ways to stem financial losses by the service, an independent agency within the federal government. Its creation followed criticism by Trump that the Postal Office provided too much service to Amazon for too little money.
The Postal Service lost almost $4 billion in fiscal 2018, which ended on Sept. 30, even as package deliveries rose.
More than 7-in-10 households headed by immigrants in the state of California are on taxpayer-funded welfare, a new study reveals.
The latest Census Bureau data analyzed by the Center for Immigration Studies (CIS) finds that about 72 percent of households headed by noncitizens and immigrants use one or more forms of taxpayer-funded welfare programs in California — the number one immigrant-receiving state in the U.S.
Meanwhile, only about 35 percent of households headed by native-born Americans use welfare in California.
A California lawmaker has pledged to re-introduce a bill that would allow adults who live in the state illegally to receive medical care paid for by the government.
State Assembly member Joaquin Arambula, a Democrat and a doctor, announced the plans Monday as the legislature convened at the state capitol, according to the Los Angeles Times.
Should the bill advance, California would become the first state to extend Medicaid coverage regardless of immigration status. State projections for last year’s bill found that 1.8 million people in California are uninsured and reside there illegally; roughly 1.2 million would qualify for Medi-Cal, the name of the state’s Medicaid program.
Optimism can be a very powerful thing.
For a long time Americans believed that things would get better, and that caused them to take action to make things better, and that actually resulted in things moving in a positive direction. But now things have abruptly shifted. In late 2018, an increasing number of Americans believe that an economic downturn is coming, and they are taking actions consistent with that belief. As a result, they are actually helping to produce the result that they fear. And without a doubt, any rational person should be able to see that signs that the U.S. economy is slowing down are all around us. So it isn’t as if those that are preparing for the worst are being irrational. It is just that when large numbers of people all start to move in the same direction, it has a very powerful effect. We witnessed this in the stock market in recent years when people just kept buying stocks even though they were massively overvalued. The collective belief that there was money to be made in the stock market became a self-fulfilling prophecy which pushed stock prices up to absurd heights. But now that process is beginning to reverse as well, and ultimately the unwinding of that bubble will be quite painful.
Say what you will about the climate policy discussions at Vox, but they don’t mince words.
They come right out and tell you how much they want to micromanage every last detail of your life. Vox’s resident expert, David Roberts, recently interviewed policy wonk and author Hal Harvey, to discuss which areas of society government should regulate in the name of slowing climate change. Everything was on the table—ranging from building codes to auto fuel efficiency to diet to family size—with the only debate being over the relative results from the various interventions.
Among other results, this peek into the interventionist mentality should serve as a wake-up call for the few writers who keep charmingly calling on libertarians and conservatives to strike a carbon tax deal with progressive leftists. As the Roberts/Harvey discussion says quite plainly, a carbon tax is just one arrow in the quiver of those championing aggressive government intervention to slow climate change.
Global Dimming: Exterminating Humanity Via Atmospheric Manipulation
MSM Warns “Time is Running Out” to Stop Global Warming, Suggests Geoengineering
After a week of insisting that a meeting with Putin on the sidelines of the G20 meeting in Argentina was going to happen, President Trump at the last minute sent out a Tweet explaining that due to a Russia/Ukraine dispute in the Sea of Azov he would no longer be willing to meet his Russian counterpart.
According to Trump, the meeting had to be cancelled because the Russians seized three Ukrainian naval vessels in Russian waters that refused to follow instructions from the Russian military. But as Pat Buchanan wrote in a recent column: how is this little dispute thousands of miles away any of our business?
Unfortunately it is “our business” because of President Obama’s foolish idea to overthrow a democratically-elected, pro-Russia government in Ukraine in favor of what his Administration believed would be a “pro-Western” and “pro-NATO” replacement. In short, the Obama Administration did openly to Ukraine what his Democratic Party claims without proof the Russians did to the United States: meddled in a vote.