Goldilocks’ Comments and Global Economic News Friday Evening 1-5-24

06/01/2024

Goldilocks’ Comments and Global Economic News Friday Evening 1-5-24

Good Evening ,

Our $34 Trillion Debt Is Turning the States to Gold The New York Sun Link

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Republican lawmakers and the White House agreed last June to temporarily lift the nation’s debt limit, staving off the risk of what would be a historic default. That agreement lasts until January 2025. Here are some answers to questions about the new record national debt.

US national debt hits record $34 trillion as Congress gears up for funding fight ABC News Link

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Maersk suspends shipping through key Red Sea maritime trade route ‘until further notice’ CNN Link

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South Korean blockchain Klaytn onboards gold RWA DeFi platform

Klaytn said the platform, launched alongside an accompanying cryptocurrency, provides what it claims to be the first tokenized gold available on DeFi outside of the Ethereum ecosystem. The Block Link

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From Black Gold to Tech Marvel: Coal’s New Role in Electronics OilPrice Link

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US Labor Market Summarized: (This is the revised report – a lot of mistakes don’t you think)

1. 10 out of the last 11 jobs reports revised lower

2. ~25% of jobs gains in 2023 ultimately revised away

3. Government jobs accounted for 25% of December jobs gains

4. Part-time jobs UP 762,000, full-time jobs DOWN 1.5 million in December

5. Full-time job gains are FLAT for 2023 while part-time is up sharply

6. Inflation-adjusted earnings ~3% BELOW 2021 levels

But still, the initial jobs number beats expectations and prints headlines before being revised lower.

How is this a “soft landing.?”

Twitter Link
CNN Link
BIS Link