You are here

Business

In The Past Year, The U.S. Added 360,000 Waiters And Only 12,000 Manufacturing Workers

In The Past Year, The U.S. Added 360,000 Waiters And Only 12,000 Manufacturing Workers

We already know that US jobs "growth" continues entirely on the back of (seasonally adjusted) minimum wage job growth, and since this has been one of our preferred topics exposing the hollow core of the so-called "recovery", we once again show the divergence between the two job categories that have come to define the New Paranormal: waiters and bartenders, aka the only truly growing (minimum wage) job category, and manufacturing workers - well paid jobs which sadly are no longer being created.

Mitt Romney Is The Real Super-Fraud: Here's The Proof, Chapter And Verse

Mitt Romney Is The Real Super-Fraud: Here's The Proof, Chapter And Verse

Submitted by David Stockman via Contra Corner blog,

Now that’s a screaming case of the pot calling the kettle black if there ever was one. Mitt Romney has lashed out at The Donald for being a “phony and  fraud”, but consider this. During his 16-years at Bain Capital, fully one-fourth or $600 million of the firms cumulative $2.5 billion of profits were scalped from companies which went bankrupt soon after Mitt and his partners got out of town with the loot.

Over 80% Of Jobs Added In January Were Minimum Wage Earners

Over 80% Of Jobs Added In January Were Minimum Wage Earners

Jobs were good; earnings were a disaster - that's the best summary of today's jobs report.

As we noted earlier, February suffered the biggest ever monthly drop in average weekly earnings, because not only did hourly earnings drop but so did hours worked, resulting in far lower overall weekly wages.

 

What caused this? Nothing our readers don't already know: recall that in January, "70% Of Jobs Added In January Were Minimum Wage Waiters And Retail Workers."

Gold ETF Market Breaks: BlackRock Suspends ETF Issuance Due To "Surging Demand For Gold"

Gold ETF Market Breaks: BlackRock Suspends ETF Issuance Due To "Surging Demand For Gold"

BlackRock's Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world's largest asset manager has made a significant decision:

  • *BLACKROCK SAYS ISSUANCE OF GOLD TRUST SHARES SUSPENDED
  •  *BLACKROCK SAYS SUSPENSION DUE TO DEMAND FOR GOLD

 

BlackRock Statement:

The Revolution Begins: German Banks Told To Start Hoarding Cash

Submitted by Simon Black via SovereignMan.com,

Just stunning.

German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH.

Europe, of course, has been battling with negative interest rates for quite some time.

What this means is that commercial banks are being charged interest for holding wholesale deposits at the European Central Bank.

Pages