Labor Shortage: The Fed's Get Out Of Jail Free Card [Ep. 99]

Labor force participation versus unemployment. Also, labor shortages - are they what we're told? Lastly, the US dollar continues to gain value - a bad sign for the global economy.

Show Notes

PART 1: 'Maybe the economy isn't in as good a condition as you economists / academics / technocrats think it is,' says the labor force participation rate.  'The economy is in fantastic shape,' says the unemployment rate.  Which one is correct?

PART 2: Labor shortages are normal, at the microscale, from time to time, in this or that industry. Yet since 2008, establishment economists use "labor shortage" as an excuse to: A) support a misleadingly low unemployment rate and, B) explain away the participation problem.

PART 3: In 1971, US Treasury Secretary John Connally told a group of European finance ministers that the US dollar "is our currency, but your problem." Half a century later, the problem has grown bigger encompassing the whole world. A world that is short of dollars.


-----SEE EPISODE 99-------
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL


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----EP. 99 REFERENCES----
Just In Time For Labor Day: It’s Not Payrolls Missing The Mark By Such A Wide Margin: https://bit.ly/3lc1k2j
Bad-Monetary-Joke Twitter: https://bit.ly/3A3RHZN
Turning The LABOR SHORTAGE Up to 11: https://bit.ly/3hifOww
The Eurodollar’s Nose: https://bit.ly/2X6LApB
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7


-----------WHO-------------
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the top hat of illustrated monetary satire, David Parkins. Podcast intro/outro is "Nite Glo" by Molife from Epidemic Sound.

What is Eurodollar University?

Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.