Another 139,000 jobs lost in the household survey for second straight month as 186,000 leave the U.S. labor force amid hiring slowdown

By Robert Romano 139,000 fewer Americans said they had jobs in November in the latest household survey by the U.S. Bureau of Labor Statistics (BLS) as another 186,000 Americans left the U.S. labor force — the second month in a row both decrease — that came after a slowdown of hiring with 353,000 fewer jobs openings in October . This is what usually happens in recessions.   In every one of the 12 recessions since 1948 , […]


Apple’s threat to Elon Musk that it will cancel Twitter from the App Store confirms anticompetitive corporate censorship regime strangling U.S. economy

By Robert Romano “Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why.” That was Twitter CEO Elon Musk on Nov. 28 in a tweet , warning Twitter’s more than 250 million daily active users that their favorite app may be removed from Apple’s App Store available exclusively on iPhones after Musk purchased Twitter for $44 billion. And […]


From Privation to Private Property: The True Story of Thanksgiving

By  Rick Manning November of 1621 marked one-year in the New World for a band of what began as 35 English religious separatists and 67 entrepreneurs who had landed on the shores of New England. In their first winter, harsh conditions and diseases like pneumonia and scurvy […]


Unemployment ticks up as 328,000 jobs lost in October and inflation cools with 2024 looming

By Robert Romano The U.S. economy shed 328,000 jobs in October, raising the national unemployment rate to 3.7 percent as inflation cooled to 7.7 percent annualized, the latest employment and price data from the Bureau of Labor Statistics (BLS) shows. This is what usually happens at the end of economic […]


The Fed hikes its core interest rate up to 3.75 percent to 4 percent. But is it enough to destroy the $6 trillion printed for Covid and cool inflation?

By Robert Romano The Federal Reserve hiked its core interest rate for banks up once again another 0.75 percent to 3.75 percent to 4 percent on Nov. 2 as high consumer inflation persists in the U.S. economy, and prepared markets for more rate hikes to come until […]


Mortgage interest rates continue skyrocketing, nearing the consumer inflation rate as home sales collapse

30-year mortgage interest rates continued skyrocketing to an average 6.94 percent on a national basis the week of Oct. 10, according to the latest data by Freddie Mac , nearing the consumer inflation rate reported by the Bureau of Labor Statistics. As the U.S. economy continues overheating, existing home sales have also collapsed […]


Cartoon: Driven To Drink


Inflation still running hot, real incomes down as Congressional Democrats run out of time

By Robert Romano Inflation continued to run hot into September, with consumer inflation still up 8.2 percent annualized and producer inflation at 8.5 percent annualized, according to the latest data by the Bureau of Labor Statistics, as the post-Covid supply crunch continues and the economy overheats, now with demand on the […]


Job openings are down 1.8 million or 15 percent since March as unemployment rate remains calm—for now

By Robert Romano Job openings fell another 1.1 million in August to 10.1 million according to the latest data from the Bureau of Labor Statistics. Generally, in a recession once jobs openings in the household survey collapse, the unemployment rate will tend to rise as well over […]


Inflation, recession still weigh heavily on independents’ minds ahead of Congressional elections

By Robert Romano Consumer price inflation and the sagging U.S. economy are weighing heavily on the minds of voters ahead of the U.S. Congressional midterm elections, the latest results of the Economist/YouGov poll show, with 24 percent rating inflation as the top issue and another 11 percent saying jobs and […]

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