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Yet he will probably be confirmed to the Fed Board of Governors. Which Republicans will vote against him?
Economic News
- Thread starter nycfan
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And REAL inflation will go up.
superrific
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Who knows. But he won't have a career after that.
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As the August jobs report showed a weakening economy, Fox cast doubt on the data before it was even released
Continuing the shoot the messenger approach, Fox was casting doubt on the jobs data even before it was released
“…
- That afternoon [yesterday], host Larry Kudlow dismissed the monthly jobs reports as “one big crapshoot” and complained: “Plus, we've seen some very big downward revisions in recent months. It's quite possible there would be more of these on the way.”
Kudlow then lamented that Trump’s chosen nominee for the BLS isn’t in place yet, saying: “We have a new man at the BLS, E.J. Antoni, a great friend of this show and an awfully smart fella, but he's not going to be in the office and not going to make any real improvements for quite some time. It's going to take a while.”
Kudlow also said: “Don't hang your hat on tomorrow's jobs report, because the economy's doing better than you think.”…”
superrific
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Unless, like some of our board mooks, they don't understand it.
ChileG
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And the very next post (by nycfan) after I posted this. This administration is as predictable as the are deplorable.
... and the REAL numbers are likely to get worse. I heard an economist say that revisions (and particularly second revisions) are typically downward because businesses are more reluctant to send in bad numbers. If numbers are good, they generally send them in quicker.
superrific
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I don't know about that. It has been established that revisions tend to (but only tend to) cluster in the same direction. If three reports in a row were revised down, it's more likely that the fourth revision is also down. This was news to me, as I had thought the revision tended to be stochastic, but apparently that was either stale information or not accurate.
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This Hyundai story is weird, BTW, but unfortunately the government is plotted with co piracy nuts making it hard to take anything seriously. Perhaps that is the true goal.
—> https://www.wsj.com/us-news/u-s-arr...b?st=y4xyki&reflink=desktopwebshare_permalink“… The operation Thursday, at an electric vehicle battery plant owned by Hyundai Motor and LG Energy Solutions, resulted in the arrest of 475 individuals. More than 300 were South Korean nationals, according to an official from the country.…
… Among those detained at the factory were South Korean employees of LG Energy Solution who were traveling for business. Hyundai Motor said it believed that it didn’t directly employ any of those detained. LG Energy said Friday it was cooperating with the South Korean government and relevant authorities to ensure the employees’ safety and secure their prompt release from detention.
The joint venture said it was cooperating with authorities and paused construction. …”
Is Hyundai insourcing Korean workers to build this plant or what is actually going on? It seems very odd.
superrific
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This Hyundai story is weird, BTW, but unfortunately the government is plotted with co piracy nuts making it hard to take anything seriously. Perhaps that is the true goal.
“… The operation Thursday, at an electric vehicle battery plant owned by Hyundai Motor and LG Energy Solutions, resulted in the arrest of 475 individuals. More than 300 were South Korean nationals, according to an official from the country.…
… Among those detained at the factory were South Korean employees of LG Energy Solution who were traveling for business. Hyundai Motor said it believed that it didn’t directly employ any of those detained. LG Energy said Friday it was cooperating with the South Korean government and relevant authorities to ensure the employees’ safety and secure their prompt release from detention.
The joint venture said it was cooperating with authorities and paused construction. …”
Is Hyundai insourcing Korean workers to build this plant or what is actually going on? It seems very odd.
It's an EV plant and LG Energy is a partner in the battery tech. The factory is in the construction stage, so it doesn't surprise me at all that there were so many S. Korean employees. I would have thought more. Usually tech companies (American companies too) do their designs in-house and send people abroad to establish the plant if they are building it elsewhere. Sort of how law firms send US lawyers abroad when they open offices in foreign lands.
So these people were almost certainly engineers/technical advisers/executives. Hyundai Motor might not have "directly employed" them because there are plenty of US subsidiaries. It suppose it's possible that they had a bunch of LG people there working on batteries, but I doubt 300. I would wager a lot of money that none of the South Koreans were "illegal" in any way.
BillOfRights
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BillOfRights
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Mr. Heritage Foundation McClownface hasn't been confirmed or assumed his duties yet. Deputy Commissioner William Wiatkowski is the acting commissioner.