Labor Data in Doubt: Did US Economy Shed 150K Jobs in December? Most Significant Decline in Money Supply Since Great Depression. ‘Dismal’ Bank Earnings Forecast. Lessons of Nazi Gold & War in Ukraine
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Lies, damn lies and statistics? DICK BOVE, once again, challenges the US Bureau of Labor Statistics (BLS), this time attacking its announcement that the US economy generated 216,000 jobs in December as the unemployment rate held steady at 3.7 percent. Using government data on hirings, layoffs, people quitting jobs and hourly wages, BOVE concludes December’s BLS report is widely off the mark. “We lost 150,000 jobs last month,” says BOVE, chief financial strategist at ODEON CAPITAL GROUP. “It’s an outrageous misstatement of these numbers by the press that creates major losses in the hands of investors,” he adds.    In fact, BOVE sees weaker signs in the labor markets than is acknowledged by other analysts. Are we therefore, inching ever closer to that long anticipated recession?  The CONVERSATION examines the US money supply which BOVE has been tracking for months. The latest data shows the M2 money supply continues to shrink with the first significant drop in M2 since the Great Depression. Some analyst see that as a harbinger of recession. MAT VAN ALSTYNE, ODEON co-founder and managing partner, says BOVE’S analysis of the US Money Supply is on target. Meanwhile, bank earnings season is upon us. BOVE, a veteran bank analyst, expects dismal results and explains why.  Will we see a sharp decline in 2024 in management fund fees for ETF mutual funds and other funds? One report hints at fee reductions. The CONVERSATION also looks at the lessons of history – how many nations supposedly neutral, reportedly profiteered by quietly working with the Third Reich. What might this suggest about the stance of “non-aligned” nations today as the brutal war in Ukraine grinds on, asks our host JOHN AIDAN BYRNE. Questions & Comments: [email protected]      
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