This morning we got yet another indication of just how difficult things are for the working person. At 8:30 this morning, East Coast Time, the Bureau of Labor Statistics reported that another 885, 000 filed a new claim for unempoyment insurance. These are people who had not filed before, and adds to the already 22 million who are currently out of work.
This number was so bad that it was fully 10% above the most bearish estimate on Wall Street. And represents the very worst Initial Claims number in the past 90 days.
Now most of these new claimants are in the Service Sector of the Economy. Just that part of the economy, which had been demonstrating the most amount of growth over the past decade.
In a week and a half, the first 100 days of the new Biden Administration will come to an end. The sheer number of new initiatives has been impressive. Who can forget the picture of the new …
US Bankers are among the most adaptive and flexible businessmen and women in the world. They have to be, they operate in an ever-changing business environment and an ever-changing …
I don't ever recall a time when the world's two largest economies were headed in the opposite direction, as they are now.
Yesterday, both Bloomberg and the Financial Times reported that …
Over night we saw a lot of continuing news on the Archegos Capital Management Scandal. I call it a scandal because there is much to go around here.
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It's been a long time since we've seriously heard someone on Wall Street speak of Capital Preservation. It's really not what people want to hear about.
Return is the topic of the day. And …
Additionally, many of the government bureaus which produce the economic reports that we rely on are also open this morning. Included in this group is the Bureau of Labor Statistics, which …
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