John Rubino – The Issue Of Rising Interest Rates, The Truth Behind The Strong Jobs Data
Cory
February 5, 2024
John Rubino joins us today to discuss the rise in interest rates and last Friday’s strong US job data.
While we continue to hear about how strong the US economy is and markets at all time highs John sees a much bigger problem brewing with rates moving higher. This of course ties into central bank policy and the recent “higher for longer” narrative out of Jerome Powell.
On the jobs data front, John is not believing the headline number from Friday. He outlines a few factors that tell him the job market is not nearly as strong as the number would suggest.
Click here to follow along with John on Substack.
Discussion
1 Comment
Feb 05, 2024 05:22 PM
We are seeing a lot of bankruptcies and a record number of businesses here shut down particularly in the restaurant segment and in the construction industry. Construction is the biggest employer but with these high rates they can’t bring new projects online because they always finance those projects with borrowed money from the banks and at today’s rates, they can’t sell condominiums and commercial real estate is dead here.
Naturally, there is a general sense that something has gone wrong and must be set right. The existing system is dragging millions of families toward hunger and want? DT