The distributional effects of COVID19 pandemic impact on the labour markets in the U.S. will likely result in a massive debasement of the national wealth shares of the ‘Main Street’ segment of American society (the 90 percent)
So, BLS just printed their April 2020 numbers of official non-farm payrolls: https://www.bls.gov/news.release/empsit.t01.htm. And things are, expectedly, ugly.Civilian ‘non-institutional’ population is up 1,203,000 y/y, while employment is down 23…
We though the Great Recession was bad… until we got COVID19:
No, folks, the markets are still not in line with fundamentals.
The Economic Policy Institute published an interesting piece of research on the links between H1B visas and lower wages paid by the U.S. employers for key skills: https://www.epi.org/publication/h-1b-visas-and-prevailing-wage-levels/. As far as I …
S&P500 and earnings per share: what should matter, doesn’tWe are now in extreme territory of the markets ignoring basic corporate fundamentals.
The Giant Glut of Oil continues (see my analysis of oil markets fundamentals here: https://trueeconomics.blogspot.com/2020/04/23420-what-oil-price-dynamics-signal.html)China strategic oil reserves have also surged. U.S. oil reserves are now nearin…
From Factset: “The decrease in first-quarter real GDP was largely driven by the 7.6% decline in consumer spending
With early effects of COVID19 pandemic in:Both charts via Factset.