Screw the Kids, load ‘em with debt. Fun future, huh?
This is a topic we have been getting into on our Peoplenomics.com subscriber side lately. We’ve explored how the endless mountain of debt foisted on our children has basically doomed America to the scrap head of history.
The main idea is simple enough: You can’t rip up the dreams and aspirations of young people – loading them down with unpayable college debt and supporting predatory lending to young people – and expect it won’t fundamentally change how the world operates.
This morning we would point to proof of concept in the US News (Best Countries) article that reveals 66.6% of young in America are living at home with their families.
There is good news and bad mixed in this: On the plus side, there is not as much demand for new infrastructure from government. Fewer freeways, power lines, and schools will be needed, at least for a while. And there may be more intergenerational communication – always a good thing.
But on the negative side, the right to generational self-determination is toast, housing lags, and the normal job-creation processes are thwarted.
And tearing of page from the idiotic policies of Germany and France, the Obama administration has taken to importing as many illegal and unvetted aliens as they can get away with, dut to desperation to keep up the illusion of economic growth.
Not playing among the more steely-eyed, but young people today are too immature to see through political jingoism and as a result, we will get what we will come November.
Challenger Job Cuts Jump
After an OK ADP report on employment yesterday, the other side is the job cuts report from Challenger, Gray, and Christmas just released:
“Monthly job cuts increased to close out the third quarter, as employers announced plans to shed 44,324 workers from the payrolls in September, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
Last month’s total was 38 percent higher than August, when announcements fell to 32,188, the second lowest total of the year behind May’s 30,157.
While September job cuts were up from the previous month, they were 25 percent lower than the 58,877 planned layoffs announced in September 2015.
Despite the September increase, the third quarter saw an overall decline in the third quarter. Employers announced 121,858 job cuts during the three-month period ending September 30. That was down 8 percent from the second quarter (132,834) and 41 percent lower than the 205,759 job cuts announced in the third quarter of 2015.”
Tomorrow we will highlight the U-6 unemployment data when it’s released.
The market is a tad skeptical with futures down a few points.
Looking for a Big Excuse
That jobs data tomorrow, or the outcome of the presidential debate this weekend could give the market the excuse it is looking for to get a new move going.
If Donald Trump scores big in the Sunday debate, we would look for a sharp move lower. That would be due to Trump’s understanding of the offshore money-hiding or multinational corporations, which is why the full court press to slam Trump in all corporate media. He will be bad for corporate chieftains.
A big win by Hillary Sunday, assuming no coughing or shaking, would set off a further rally in the markets next week and we would break out of an ascending triangle trading zone and be ready for another 10% move up from here to an eventual possible (wave 5) high in the S&P 500 2,200 to 2,300 area.
Rest assured the Fed will keep month loose for a few more weeks. Although bond rates are firming which means a Fed rate hike in December becomes more likely.
But nothing (short of a global financial crisis) before the election.
Futures down only 40, or so, so we wait for a better candidate for panic to show up.
Everyone Run From Florida
So will L. Rushbo be in WPB or a stand-in today?
Ahead of the Curve, As Usual
A Peoplenomics report from a couple of months ago (Bezos and Bentonville: Barbarians at the Mall, issue 786B, June 11, 2016)
The headline from this morning prompting the self-congratulations? Wal-Mart reiterates guidance, plans to slow store openings to invest in digital.
Commies on the Campus Dept.
You have to read this story about how the radicals are trying to put warnings on college syllabi.
And you wonder why corporations are moving money to other countries?
Would YOU invest in a country of crazy people with leadership like ours that is in the middle of a slow-motion socialist coup? No? Me either.
The New Game in town seems to be the “I’m the Bigger Victim Game.”
Still, we called it right long ago: Having run out of real product, real technology change, and real innovation, we have nothing left to monetize except gender, race, and oh yeah, meeting time with the former Sec. State… FMTT.
Hey! Gun Grabbers
We must register knives!
Need more reason?
Why with ISIS calling for random knife attacks, seems to me the gun-grabbers have been anticipated, flanked, and outted for fools.
We return to the point that objects don’t kill people. People kill people.
Yeah, too damn obvious.
Knife Depot’s Bad-Ass Knife of the Week is worth a read.
Stay sharp and see you tomorrow.