Why Representative Democracy Is Obsolete

Jobless Claims Continue To Show No Signs Of Labor Market Stress Initial jobless claims continue to hover near multi-decade lows, refusing to show any signs of labor market stress. Last week saw 212k American file for jobless benefits for the first time (below the 216k expected). Unadjusted claims tumbled to the lowest since September... Source: Bloomberg Michigan and New York saw the largest drop in initial jobless claims last week while Rhode Island and Oklahoma saw the bigger rise in claims... The number of Americans filing for continuing jobless claims also dropped last week...

The 'Leading UK Scientists' Letter Urging Abandonment Of North Sea Is Ideology Masquerading As Science Authored by Tilak Doshi via Tilak’s Substack, The Financial Times reported on Good Friday that “more than 65 leading UK scientists” had signed an open letter, published as a Google Doc, urging the Government to abandon new North Sea oil and gas drilling in favour of renewables. “Here is the scientific establishment speaking with one voice,” the FT tells us, warning against the supposed folly of extracting what remains of Britain’s hydrocarbon resources and to choose renewables that, according to the scientist-signatories, provide...

The Reflexive Rally Was Not Surprising Authored by Lance Roberts via RealInvestmentAdvice.com, The market rallied on Tuesday and Wednesday, with Tuesday’s rally one of the best trading days since 2022. However, that should also be unsurprising, since the best trading days tend to cluster with the worst market periods. As we noted in Stock Market Breadth on Monday: “The single most damaging decision most investors make during periods of falling stock market breadth is selling. The data on this is unambiguous. Seven of the market’s 10 best days in any given 20-year period occur within...