"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free." - President Ronald Reagan
Secretary Yellen and inflation.....Another court said no to college loan bailout....Rail strike......Iranians cheer for US team.....Arizona election......Gaylord Perry (1938-2022)......And other stories....
November started with talk of a red wave, turned into the GOP winning the House by a small majority, and closes with a bad jobs report:
Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP.
Companies added just 127,000 positions for the month, a steep reduction from the 239,000 the firm reported for October and well below the Dow Jones estimate for 190,000. It also was the lowest total since January 2021.
The relatively weak total comes amid Federal Reserve efforts to loosen up a jobs picture in which there are still nearly two open positions for every available worker. The central bank has raised its benchmark borrowing rate six times this year, but the unemployment rate is still 3.7%, near the lowest since 1969.
“Turning points can be hard to capture in the labor market, but our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains,” said ADP’s chief economist, Nela Richardson.
Having an impact on job creation? So does the last paragraph mean that the recession is here or knocking on the door? The markets reacted cautiously to mixed economic signals and wait for the Fed's next move.
The jobs report confirms that it will be a rough ride for the Biden administration in the near future. Jobs report, rail strike, diesel shortage, and a few others. It's time for Pres. Trump to stop having dinner with controversial characters and leave the front page to President Biden's economy.
Let's wish a very happy birthday to Larry Walker, arguably the best Canadian hitter ever. He won 3 batting titles: .363 in '98, .379 in '99, and .350 in '01. He also won 7 gold gloves, an MVP ('97) and member of the 30/30 club. He retired with a .313 batting average, 383 HR's and 1311 RBI's Why isn't Larry Walker in the Hall of Fame? Some say because he played in Colorado. It's true that he did play 8 years there and that's where he put up some amazing numbers: a .334 average, 258 HR, 848 RBI in 1,170 games! He also played in Montreal for 6 seasons where he hit .281 in 674 games! And he finished in St. Louis: .286 in 144 games. He should be in the HOF!