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Tag: unemployment

President Biden picks Jerome Powell to be next Fed chair

President Joe Biden has tapped Jerome Powell to serve another four-year term as the chair of the Federal Reserve System’s Board of Governors.In a Monday announcement, the White House announced President Biden will be nominating Powell as his pick to lead the Federal Reserve once his current term ends in February. The executive branch cited Powell’s “decisive action” in lessening the economic impact brought on by the pandemic as well as the creation of 5.6 million jobs and a 4.6% unemployment rate.In addition, Biden chose current Fed board member Lael Brainard to be vice-chair of…

America in 1930 vs. 2021 – Twelve major differences

1. Debt – Before 1930 – Nominal Debt: $17 Billion. Debt to GDP Ratio: 16%. Today: Nominal Debt: $23 Trillion. Debt to GDP Ratio: 106%.

2. World War 2 – Before 1930 – There was World War 1. 1945 with a nuclear bomb, the US was christened the winner of WW2.

3. Global Reserve Currency – Before 1930 – U.S. Dollar was not the global reserve currency. Then, in the 1944 Bretton Woods Agreement made it the global reserve currency (backed by gold). August 1971, the United States unilaterally terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end, and rendering the dollar a fiat currency.

4. Social Security – Before 1930 – There was no Social Security in America.… Read more...

Rabobank: Our System Can Fall Apart If Every Peasant Quits The Physical Economy And Starts Trading…

By Michael Every of RabobankRevising Views and Economic GravityFriday’s US payrolls report for once proved somewhat interesting – and also underlined just how pointless a release it is via backwards revisions that dramatically shift perceptions of what the labour market is (or isn’t) doing. Headline jobs growth was 531K vs. 450K forecast, and September was revised up to 312K from 194K, and August up from 366K to 483K. The unemployment rate dropped to 4.6%, but it’s not clear if that means anything given the BLS are evidently making this all up more than usual due to Covid…

Data Science

To cultivate effective decision-making strategies using dataPhoto by Christina @ wocintechchat.com on UnsplashThe workplace culture of people in the Data IndustryWe know that the world runs on data. Millions and trillions of data are being processed every day all around the globe. People spend day and night tackling all kinds of problems using this data.Have you ever wondered about what would happen if there was no data in the world anymore? The economy would probably sink, unemployment…

Sunglasses and Face Mask Won’t Fool Facial Recognition Systems Any More

Not sure about this one… Tips to fool facial recognition systems are fast becoming obsolete. New research using partial features is showing a high success rate. The future looks bleak for privacy advocates. Facial recognition systems have exploded in popularity in the last couple of years. From filing for unemployment benefits to Uber identity checks, the technology is seeping into every aspect of our daily lives.  But alongside increased security comes a dark side: invasion of privacy, unsanctioned government…

The European Green New Deal is a Rescue Plan

Does anybody realize its basically Europe who is planning to spend about a quarter of a trillion euros to ‘save the planet’ while the big CO2 contributors (China and the US) don´t give a f*** about this matter? (not to mention developing nations).

Europe happens to have an almost stagnant economy with high unemployment, and at least one major bank on the brink of collapse. There has been insisting demands from the ‘debt makers’ to countries like Germany to spend more, much more.

In my opinion, the “European Green New Deal” is a new rescue plan for many corps, supported by massive tax increases and tons of propaganda. The only way for people to accept this is telling them that “the world is going to be over in 12 years unless we re-engineer the hole economy”.