Labor

Having identified virtually every single asset bubble of the current cycle (as well as a few extra), SocGen's cranky strategist Albert Edwards has found yet another place where there is irrational exuberance: vacations, and ever the optimist, Edwards has a message for Americans: enjoy it while you can, because it won't last.  In a note titled "Who needs wage inflation when even vacations have become a bubble" , the SocGen strategist observes that "more Americans plan to take a holiday in the next six months than ever before (see chart below)" and complains

Over the past year we have provided extensive coverage of what will likely be the biggest, most politically charged, and most significant financial crisis facing the aging U.S. population: a multi-trillion pension storm, which was recently dubbed "one of the most heated battles of a lifetime" by John Mauldin.

Authored by Michael Snyder via The American Dream blog,

Earlier this year, Maui County residents in the island state of Hawaii were somewhat less than ecstatic to learn that their property taxes were going to increase by approximately $29.7 million for fiscal 2018.  According to County Council member statements at the time, the additional funding was needed to help provide better public services for Maui residents.

Authored by Doug French via The Mises Institute,

“Pension fund problems worsen in 43 states” says the Bloomberg headline.

Laurie Meisler writes,