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Paul Craig Roberts – Update to BLS December Payroll Jobs Report: It is even worse than I reported

In my column on Friday I reported the unreported facts in the payroll jobs report. http://www.paulcraigroberts.org/2016/01/08/another-fabricated-jobs-report-paul-craig-roberts-2/ If we choose to believe the report, it is really very bad news. Good middle class jobs are continuing to decline. The new jobs are jobs that pay considerably less and often are part-time jobs devoid of benefits. Moreover, the new jobs are going …

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Financial Sense – Global Markets in 2016: Four Risks to Watch Out For

After an eventful 2015, where we witnessed the first US rate hike in 9 years, crude oil dropping to 6 year lows, a dramatic selloff in Chinese equity markets and an unexpected abandonment of the Swiss Franc-Euro currency cap, we head into 2016 with global markets on tenterhooks. In this article, we analyze the 4 most important risks that global …

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Michael Snyder – What Really Happened In 2015, And What Is Coming In 2016…

A lot of people were expecting some really big things to happen in 2015, and most of them did not happen.  But what did happen?  It is my contention that a global financial crisis began during the second half of 2015, and it threatens to greatly accelerate as we enter 2016.  During the last six months of the year that …

Robert Reich – The Economy in 2016: On the Edge of Recession

Economic forecasters exist to make astrologers look good, but I’ll hazard a guess. I expect the U.S. economy to sputter in 2016. That’s because the economy faces a deep structural problem: not enough demand for all the goods and services it’s capable of producing. American consumers account for almost 70 percent of economic activity, but they won’t have enough purchasing …

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Jack Rasmus – Central Banks Out of Control

The move raises critical questions about the global economy for 2016, already slowing significantly since 2014. Further global slowdown is now almost certain in 2016 – with global oil prices now in the mid-US$35 range and projected to go lower, with commodity prices globally still deflating, with Europe’s economy continuing barely growing and Japan’s in yet another recession, and with …

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PATRICIA COHEN – Over 50, Female and Jobless Even as Others Return to Work

The latest signs of an improving economy were good enough to help persuade the Federal Reserve to raise interest rates for the first time in nearly a decade. But the better job market is not good enough to land Chettie McAfee a job. Laid off at the start of the recession from the diagnostic testing firm in Seattle where she …

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Joseph Stiglitz – The Great Malaise Continues

NEW YORK – The year 2015 was a hard one all around. Brazil fell into recession. China’s economy experienced its first serious bumps after almost four decades of breakneck growth. The eurozone managed to avoid a meltdown over Greece, but its near-stagnation has continued, contributing to what surely will be viewed as a lost decade. For the United States, 2015 …

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Larry Elliott – 2016 will be a year of living dangerously for the global economy

Economic forecasting is a mug’s game. One thing that has been learned from the financial crisis and Great Recession is that even those equipped with the most sophisticated models get it wrong, sometimes spectacularly. So it is with both humility and trepidation that I will try to fulfil a promise made last week and make predictions for what is going …

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Michael Snyder – Financial Armageddon Approaches: U.S. Banks Have 247 Trillion Dollars Of Exposure To Derivatives

Did you know that there are 5 “too big to fail” banks in the United States that eachhave exposure to derivatives contracts that is in excess of 30 trillion dollars?  Overall, the biggest U.S. banks collectively have more than 247 trillion dollarsof exposure to derivatives contracts.  That is an amount of money that is more than 13 times the size of the U.S. national debt, and …

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Nick Beams – World Socialist Web Site

After an initial rise following the decision by the US Federal Reserve to lift interest rates by 0.25 percentage points on Wednesday, stock markets around the world have experienced significant declines over the past two days. The biggest falls were in the United States, where the Dow was down by 368 points at the close of trade on Friday, a …