Sep 2, 2022Liked by Peter Nayland Kust

Toxic indeed. Way too many employers are still requiring proof of clot-shots for new hires.

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I wonder if that's one of the "seasonal factors" that led the BLS to scratch off 107,000 of the jobs supposedly created in June and July when they released the August Employment Situation Summary.

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Aug 30, 2022·edited Aug 31, 2022

Ignore the adjustments. In the end that doesn't matter. You have a job or not. Of course traditionally these adjustments made sense, as during certain periods there are more temp-jobs and you want to smooth that out. But in the end jobs-offers are not declining and people are not mass-fired. So it seems this time it is mostly Big Money that will need to eat the correction and not so much the little guy.

I don't think Powell knows what he is doing, but at least he is making the right moves: rates up-up-up. It won't stop inflation, as that was just the extra money placed in circulation in '20/'21, but rates need to go up to have any chance of not having a total system collapse down the road. It may be too late, but we got to try. And if it is not hurting jobs, I see no reason to stop now. Not at least until saving rates are back at 4% and bonds somewhere just below.

Yes that will hurt, but it is more like the cancer patient needing surgery. Not doing it is worse.

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