Business

It's getting worse... faster! These two stunning overnight developments in crude oil prices should shock investors...

First, OPEC - after its crude basket price dropped below $30 for the first time in 12 years - slashed its price overnight by $2 to $27.85 - the biggest single-day drop in history and lowest level since November 2003...

Is it any wonder the Saudis are trying to sell every national asset to subsidize this US Shale-crushing energy price?

Sourtesy of Southbay Research

December Nonfarm Payrolls - Key Trends

• Transportation revised up thanks to UPS/Fedex revisions
• December boosted by warm weather, January to reverse
• Low oil prices benefiting the petrochemical sector
• Consumer Spending remains strong

Courier payrolls revised up as expected

Earlier we gave a big picture explanation how the US can add 292,000 while average hourly wages actually decline. Below is a more nuanced answer, looking at the breakdown of jobs by industry in December.  It will probably come as no surprise to anyone that for another consecutive month, the well-paying jobs: mining and logging, wholesale trade, manufacturing, and information barely posted a net increase.

The good news - wholesale inventories are being worked off (falling 0.3% MoM in November - biggest drop since May 2013). The bad news - inventories are being worked off (crushing Q4 GDP hopes and Fed forecasts). The ugly news - Wholesale sales collapsed 1.0% MoM - the biggest drop in a year (leaving the spread between sales and inventories at a record high).

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When The U.S. Dollar No Longer Exists

Written By Jeff Nielson (CLICK FOR ORIGINAL)