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Always a pleasure joining The Big Money Show, discussing proposed price controls, potential corporate mergers and antitrust law, the child tax credit, and more:

Always a pleasure joining FOX Business, discussing inflation, some of the latest economic policies and rhetoric from the campaign trail, and more:

Third strike against @Potus’ illegal student loan bailout scheme. I break it down with E.J. Antoni, Ph.D. for Tribune News Wire, here⬇️

"The stratospheric rise in food prices in the last three years has forced many families to forgo groceries they used to enjoy in exchange for cheaper alternatives," writes E.J. Antoni, Ph.D. trib.al/D1s1nMj

Paychex: small business jobs index moved sideways in Aug, barely in contraction territory, indicating marginal Y/Y job losses at America's small businesses; annual weekly earnings growth came in at 3%, only just matching inflation:

US manufacturing is toast: S&P Global PMI shows faster contraction in Aug than Jul while production falls for 1st time in 7 months; inflation picked up while employment fell; largest drop in new orders since Jun '23 - stagflationary report, to be sure:

Global manufacturing shrinks in Aug as employment, production, and new orders all fall w/ J.P.Morgan's PMI hitting 8-month low; output price inflation also accelerated slightly and sentiment weakened:

S&P Global: supply shortages fall to lowest since Jan '20, further indication that we're back to pre-pandemic conditions; if supply chains were really the cause of inflation, then not only would inflation be back to pre-pandemic levels, but prices would be down too - they aren't:

Production in the Basic Materials sector fell off a cliff in Aug, dropping most since the steep decline in Feb '23; consumer goods production also fell amid collapsing demand and record stockpiling of finished goods; service sector was buoyed by robust healthcare growth:

Federal debt hits new record high: $35.343 trillion We're adding about $300 billion/month Totally sustainable...

Please report this account for impersonation - it's a crypto scammer: E.J. Antonio, Ph.D 🗨

Eurozone construction activity continued tumbling again in Aug, down 28 months in a row; new orders plummeted, employment was down; housing construction is collapsing at the fastest pace since the covid lockdowns in Apr '20:

And there it is: RRPs down to $291 billion

SOFR is back up to 5.35% as volume comes down slightly from its record high spike of $2.4 trillion:

Service sector saw sharp upturn in activity in Aug, fastest since Mar '22 but employment resumed its downward slide as labor costs continue to bite and job leavers aren't replaced:

Service sector growth is outweighing the decline in manufacturing but there's no denying that the latter is in recession, w/ just about every indicator pointing to another contraction in Aug:

S&P Global sector PMI: bad omen in the sectors of the global economy that have turned down - they're disproportionately inputs for other industries and sectors; this is a common pattern as the economy shifts from expansion to contraction...

Global composite PMI points to faster growth in Aug, driven entirely by the service sector as manufacturing declines further; employment fell into contraction territory, albeit marginal; price increases continued; optimism rose:

ISM: manufacturing PMI signals another contraction for Aug as new orders and production fell faster; employment losses continued as inflation accelerated - stagflation:

PMI's once again indicate American manufacturing was back in contraction last month: