Sponsored by Core Assets Corp

Is unemployment data realistic?

In response to the June jobs report, President Joe Biden hailed “Bidenomics in action,” showcasing a positive outlook on the economy. However, delving deeper into the report from the Bureau of Labor Statistics reveals a concerning reality: over five million Americans who desire employment were not counted in the 3.6% unemployment rate.

The report exposed that 5.4 million individuals were not included in the unemployment count because they were not actively seeking work during the surveyed period or were unable to take a job.

“The number of persons not in the labor force who currently want a job was 5.4 million in June, little changed from the prior month,” the report said. “These individuals were not counted as unemployed because they were not actively looking for work during the four weeks preceding the survey or were unavailable to take a job.”

You can read more on the matter here.

What’s going on?

• “It’s Maddening”: Lantsman Blasts Freeland Over Misinformation Claims About Using Car and Chauffeur (theDeepDive)

• Hungary’s Inflation Control: Are Price Caps on Groceries Going to Create Shortages? (theDeepDive)

• Soaring Housing Costs Threaten Political Consequences for Trudeau (Bloomberg)

• Semiconductor Industry Faces Uncertainty as China Tightens Gallium and Germanium Exports (theDeepDive)

• Coca-Cola bottler CCEP intends to acquire Coke's Philippines business for $1.8 billion (Reuters)

• US Government’s Credit Rating Downgraded to AA+ Amid Concerns Over Finances and Debt Burden (theDeepDive)

• US Companies Added 324,000 Jobs in July, ADP Says (Bloomberg)

What’s the latest?

• Financial Ratings and Market Trends: Fitch Ratings has downgraded the United States' AAA long-term credit rating for the second time in history. Despite this, market indicators suggest demand for Treasury notes will remain high. However, Wall Street's ongoing apprehensions about political instability and frequent debates over the debt limit are causing uncertainty in the overall economic environment.

• Trump Indictment: Former President Donald Trump faces indictment over efforts to reverse the 2020 election results, with four criminal charges reportedly related to his actions post-election. These charges suggest involvement of anonymous co-conspirators. Additionally, another federal criminal case has been launched under the Biden Administration.

• Global Affairs: Signals suggest the possibility of the Black Sea grain pact being reinstated. Meanwhile, tensions rise as the White House plans to ask Congress to fund weapon supplies for Taiwan, amidst China's surprise leadership changes in its People's Liberation Army (PLA) Rocket Force.

• Energy and Environment: The Dept. of Energy delays refilling portions of the SPR while the EPA is set to implement tighter water regulations related to CAFOs. Additionally, new energy efficiency regulations have led to most incandescent light bulbs becoming unavailable for purchase in the U.S.

The Niger coup

The stock market and stuff

• Coinbase: The SEC Delisting Recommendation Would’ve Led to ‘the End of the Crypto Industry in the US’ (theDeepDive)

• Spencer Schiff, Former Bitcoin Bull, Now Believes AI Is the Answer (theDeepDive)

• Meta Officially Halts News Sharing in Canada in Response to Online News Act (theDeepDive)

In the juniors

• IAMGOLD Sells Brazilian Exploration Properties To Jaguar Mining (theDeepDive)

• Verses Files Another Patent Related To Artificial Intelligence (theDeepDive)

• Strathcona Resources to Acquire Pipestone Energy Corp in Bid to go Public (theDeepDive)

• Yellow Rallies Nearly 150% Ahead Of Bankruptcy Filing (theDeepDive)

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