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President Muhammadu Buhari, Friday, signed the 2016 appropriation bill( budget) into law. While signing the  budget, titled “budget of change”, President Buhari stated the budget is intended to signpost a renewal of our commitment to restoring the budget as a serious article of faith with the Nigerian people. Hear him; “It gives me great pleasure today […]Read More

Submitted by Mike Krieger via Liberty Blitzkrieg blog, This certainly isn’t a comforting statistic. From Bloomberg: After heart disease and cancer, medical errors kill more Americans than anything else, claiming a quarter of a million lives a year, according to a study by researchers at Johns Hopkins University. If bungles and safety lapses in the hospital were […]Read More

In addition to the troubling trend revealed by the yet again declining labor participation rate as a result of hundreds of thousands of Americans dropping out of the labor force (and lack of entrants), one other recurring concern we have had with the jobs report is that new job growth has disproportionately gone to elderly […]

Goldman’s muppet crushing ways continue. Recall that just three days before today’s deplorable jobs number, Goldman revised its payrolls forecast higher, saying that “we expect a 240k gain in nonfarm payroll employment in April. We increased our forecast from an initial estimate of 225k published last Friday as a result of the improvement in the […]Read More

Submitted by John Mauldin via MauldinEconomics.com, GDP growth has only two basic components: growth in productivity and growth in the workforce size. That’s it. There are two and only two ways you can grow an economy: increase the (working-age) population or productivity. There is no magic fairy dust you can sprinkle on an economy to […]

We already know that the quantity of the April jobs was disappointing, but what about the quality? Well, on one hand the BLS reported that based on the Household Survey, in April 253K full time jobs were lost so there’s that. But what did the Establishment Survey, which is the far more massaged one and […]

It appears that the Fed is now officially “one and done” because the only indicator that until recently “confirmed” a “strong recovery”, non-farm payrolls, just had a major stumble.  In yet another Goldman jinx which just two days ago boosted its payrolls forecast from 225K to 240K, moments ago the BLS reported that ADP’s ominous […]Read More

The pain for specialty pharma companies continues. Yesterday afternoon, Endo International PLC – an “Irish” company that was one of the last tax inversions completed before the Treasury cracked down on the practice – reported not only that its losses deepened in its latest quarter, pressured by an asset impairment charge, but also slashed guidance […]

Well that escalated quickly.. After 3 VIX-smash saves this week, the selling pressure won (for now) as a dead-cat-bounce after the dismal jobs data has sent S&P 500 back into the red for 2016 (joining Nasdaq and Small Caps) with Dow and Trannies getting close… The bounce is dead… After 3 VIX-smashing saves… But Bonds […]Read More

Moments ago it was Goldman, and now here is Bank of America, which until today had expected at least two hikes in 2016 but following “a string of disappointing data”, it too has thrown in the towel. From the otherwise very cheerful Ethan Harris, so cheerful in fact that he forecasts no recession over the […]

Turkey’s conversion into an all out despotic, banana republic is almost complete. Recall that in November, violence erupted in the troubled nation in which president Erdogan is now actively seeking dictatorial powers after a prominent lawyer and foe of Erdogan, was assassinated on live TV. This occured just days before Erdogan arrests journalists who exposed […]

The issue concerning the controversial 2016 budget has finally been laid to rest. President Muhammadu Buhari has signed the 2016 appropriation Bill. The occasion took place at the Presidential Villa in Abuja on Friday. Buhari had returned the document to the National Assembly mainly because there were “grey areas” in it that needed clarifications After […]