I had the great pleasure of hearing Jim Grant of Grant’s Interest Rate Observer speak at a conference last week. In his incredibly entertaining, enlightening, and frightening remarks, he noted that in the previous 10 post-war recessions, the peak-to-trough decline in GDP averaged 1.7%. The average stimulus response during those 10 recessions averaged 2.9% of [...]
Somewhat surprisingly, LinkUp’s January jobs report shows that the worst may be over for the U.S. job market. While the month did show further declines in the number of jobs available in the U.S., the rate of decline is lower than it has been in recent months. New jobs posted to company websites dropped 1%, [...]