Business

Authord by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

This week President Trump revealed his final five candidates for Federal Reserve chair. Disappointingly, but not surprisingly, all five have strong ties to the financial and political establishment.

The leading candidates are former Federal Reserve governor and Morgan Stanley banker Kevin Warsh and current Fed governor, former investment banker, Carlyle Group partner, and George H.W. Bush administration official Jerome Powell.

Over the past two months, General Motors' stock has rallied nearly 30% on the notion that hurricanes in Texas and Florida solved the company's nagging inventory problem.  But, even after two of the most devastating hurricanes in U.S. history wiped out hundreds of thousands of vehicles and GM's preemptive elimination of some 6,000 jobs, Automotive News says the company still has a ways to go at certain plants if they want to bring system-wide inventories down to healthy levels. 

One of our preferred "off beat" economic indicators is how many workers apply at any one given moment in time for jobs that are hardly considered career-track. An example of this is the number of applicants for minimum wage line cook jobs at McDonalds, or flight attendant positions at Delta Airlines; conveniently, this is a series which we have tracked on and off for the past 7 years.

Only yesterday, we commented on the launch of the world’s first A.I.-driven ETF “EquBot LLC, in partnership with ETF Managers Group (ETFMG) launched the world’s first ETF powered by artificial intelligence, the AI Powered Equity ETF (NYSE Arca: AIEQ). According to Business Wire, the new ETF uses ‘cognitive and big data processing abilities of IBM Watson™ to analyze U.S.-listed investment opportunities”.

A mere 24 hours later and JPM has joined the party as Bloomberg reports, 

This article by David Haggith was published on The Great Recession Blog: