The Fed genie and the bankers’ cave

20 July 2020 — theplanningmotivedotcom

This article looks at two current economic phenomena, how retail sales always out-perform and how investment banks in the USA always make profit come rain or shine.

A quick re-examination of US unemployment data, which is an embarrassment. According to the Bureau of Labour Statistics, there were 151.1 million in work in February plus 1.7 million (Labour Department data) insured workers claiming continuing unemployment benefits making a total of 152.8 million workers. In June, the number in work according to the BLS was 138.5 million and the number claiming benefits according to the LD was 17.3 million making a grand total of 155.8 million. An increase of 3 million. Now either the number in work has been overstated by 3 million or the number of claimants have.


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