https://awscommunity.social/@jackiegardina/112553742407272926 jackiegardina@awscommunity.social - The Biden Administration has weaponized the DOJ so much that jury selection in Hunter Biden's trial starts today & Sen. Bob Menendez is currently on trial and Rep. Henry Cuellar has been indicted.
Wow, they are bad at this.
Sy Hersh can literally be labelled the most prominent #investigative #journalist of the past fifty years.
He won a Pulitzer Prize back when they were still only awarded based on accuracy and credibility. He literally exposed horrific incidents in both the Vietnam war and the second Iraq war. His findings were irrefutable.
Now suddenly Western Mainstream Media wants to act like he is a nobody whose journalism doesn't warrant coverage.
Western #Mainstream #Media only wants to feed us Propaganda and Narrative Control. They truly are 'The #Enemy #of the #People.'
John Miranda
#NordStream đź’Ą #SABATOGE đź’Ą
#BidenAdministration đź’Ą
t.me/riseofthenewmedia
/1137
... The loss of confidence in the main jobless rate as a definitive economic indicator also has big policy implications.
Even if the US unemployment rate continues its rapid descent in the coming months, the Fed has said it will not start removing its monetary support for the economy by increasing interest rates until full employment can be measured by a much broader range of measures, which will almost certainly include labour force participation.
This stance is the result of a big shift in thinking at the US central bank over the past decade away from pre-emptive tightening based merely on fears of inflation spikes.
“The Fed has definitely been highlighting and putting emphasis on not looking at the unemployment rate as the only gauge of labour market health,” said Lydia Boussour, an economist at Oxford Economics.
The Biden administration has also largely ignored the quickly falling US unemployment rate, as evidenced by its push to pass a $1.9tn fiscal stimulus package. The White House says the relief bill is justified because of the millions of Americans who are still out of work and the lingering devastation of the crisis on small businesses and low-income households. ...
Criticism of the mainline "U-3" unemployment rate has been long and widespread. As the Financial Times piece notes, this change has "big policy implications", an extreme understatement.
Note that unemployment in the US is measured by the Department of Labour, not the Federal Reserve, and likewise for the Fed's other policy target, inflation --- don't measure what you regulate being the guiding principle. There are actually six measures of unemployment tracked by DoL's Bureau of Labour Statistics, creatively named U-1, U-2, U-3, U-4, U-5, and U-6, described in Table A-15. Alternative measures of labor underutilization. Most critical and significant to this story is the determination of just who is, or is not, included in the definition of the denominator "US Labour Force", which is now considered far too exclusionary a measure. As the article notes:
The fear is that a significant number of people will never return — and will be part of along-term economic scarring left by the pandemic.
Indeed.
https://archive.is/xsyi0
https://www.ft.com/content/10c3d7aa-8b92-42d0-97f7-e2090561fc42
#economics #FederalReserve #unemployment #BidenAdministration #LabourStatistics
(Reuters) -President-elect Joe Biden will nominate federal appeals judge Merrick Garland to be the next U.S. attorney general, a Biden transition official said on Wednesday, a choice most Americans know as the Supreme Court nominee of President Barack Obama memorably blocked by Republicans.
#politics #BidenAdministration #JoeBiden #MerrickGarland #AttorneyGeneral #BidenCabinet
Biden will name Gary Gensler as an adviser on issues involving Wall Street and regulation of markets, The Wall Street Journal reported Friday. It’s not clear exactly what this means in terms of Gensler’s role, namely whether he will be advising Biden on which policies to propose as president, working during the transition to help Biden choose his presidential economic team or being positioned to take a key role on that team himself.
This news is interesting for two reasons. It suggests Biden is moving forward in trying to start planning his administration even though he has not yet been declared the winner of the election by most outlets. Also, Gensler is allied with Sen. Elizabeth Warren and favors a tougher regulation of Wall Street, so this choice is getting plaudits from more liberal Democrats who have worried Biden might pick figures more resistant to regulations of Wall Street firms.
Via FiveThirtyEight.
https://fivethirtyeight.com/live-blog/2020-election-results-coverage/
