Though the numbers were actually released yesterday because of the Veterans Day holiday, and we have two data points, first, initial unemployment claims fell slightly, maintaining a level of job losses which is generally in line with pre-pandemic numbers.
What is not at a pre-pandemic level is inflation, which is now over 6% year over year.
Most concerning is the spike in housing costs, which is driven, at least in part, by what Keynes called. "Disruptive capital flows," from private equity's buying binge.
Unfortunately, the Federal reserve, is likely to overreact and tank the economy.
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