Phew. We squeaked by. I guess. Core inflation across the US economy ran 0.346% in
Author: therealheisenberg
There’s An ‘Invisible Hand’ Keeping Stocks At Records
There’s an “invisible hand” at work and I don’t mean Adam Smith’s thoroughly exhausted metaphor
Reckless Mischief
Drones. Vladimir Putin’s got ’em to burn thanks in part to Iranian generosity. UAVs are
Larry Hits The Jackpot
Larry Ellison made something like $120 billion by lunchtime on Wednesday. How’d you do? I
The Bigger Story Behind Cook V. Trump
It’s not a stretch — or if it is, not an especially large one —
Wholesale Inflation In The US Cools Sharply. And Conveniently
Good news: Wednesday’s update on wholesale prices across the world’s largest economy looked benign. If
Anywhere, Anytime
Two things right off the bat. First, Israel’s a rogue state now. Second, brazen assassinations
Give Or Take 911,000
Drama, folks. High drama. And I don’t mean Israel venturing further down the road to
Investors Are Learning To Live With A Post-Democracy America
There for a time, the story of 2025 was US underperformance. On some vectors anyway,
Acrophobia
It’s a good thing valuations and market concentration aren’t reliable predictors of near-term equity market
Here We Go Again. Again.
I enjoy writing about French politics about as much as you like reading about French
S&P 7,000 Here We Come?
The outlook for large-cap, US corporate equities — “the stocks,” if you like — remains
The Party Line. Toe It Or Else…
Over the weekend, regime official Scott Bessent showed up on NBC’s Meet The Press which
Paging Nick Timiraos?
The Fed’s in their self-imposed communications blackout this week ahead of a September policy meeting
CPI, Jobs Revisions Are Make Or Break For Super-Sized Fed Cut
It’s CPI week in the US, but the relevance of the BLS inflation update for
Ishiba Exits As Japanese Voter Angst Grows
Shigeru Ishiba’s done. He was actually done months ago, in July, when a lackluster result
ADP’s Revenge
I suppose we all owe ADP an apology. For most of the post-pandemic era, macro
Silver Lining (As Easy As 1, 2, Recession)
Donald Trump may not be happy with Friday’s jobs report, but he should be pleased
Dark Comedy
Comedy. It’s a fixture of autocratic regimes. Dark comedy, sure. But comedy all the same.
Goodbye US Hiring
Somebody’s fired. Again. If Donald Trump was trying to send a message to the BLS
Thank A Robot ($191.5 Billion)
If we’re going to scapegoat “the machines” for escalatory selloffs as we so often do
28 Weeks Later
I suppose the Donald Trump macro “golden age” quips are tired by now. If not,
Mighty American Services Sector Is A Good News, Bad News Story
How about some good news? Anybody interested in that? Not really? I didn’t think so.
US Labor Market Teeters As Jobless Claims Jump, Layoffs Rise
And the hits just keep on comin.’ Jobless claims in the US jumped to 237,000
Private Hiring Slows Again As US Employers ‘Whipsawed’
“Whipsawed by uncertainty.” That’s the US labor market in 2025. The description comes from ADP
Don’t Say It Out Loud
Wall Street’s beginning to think the unthinkable. And to say it aloud, just not always
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