Immigration policy has not pressured wage growth, but it is contributing to the strongest college tuition increases in decades as not as many full paying foreign students are coming to study in the US

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After the CPI report, many of the sell-side and the Fed watcher community flipped their house "call" on the September meeting. Of these 22, twenty now expect the Fed to hike on Wednesday, and most think there's another hike this year after that

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The core economic pitch for Trump's deportations was "fewer immigrants means more jobs for Americans" Unsurprisingly, that's just not happening Prime-age employment rates for native-born Americans held near the lowest levels in more than four years in data released today

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THE YEAR OF THE STOCK-BREADTH DIVERGENCE This year, we’ve already had 13 sessions in which the S&P 500 gained (/lost) 0.25% while the advance-decline line was negative (/positive) 100. The two occasions this week -- Monday and Thursday -- made it an annual record. (data back to 1997)

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Despite the big business doomer, this is actually good. We should not want 40%+ of 55 year olds to be so financially strapped they have to work. They should be moving to retirement or be retired. I think under 20% is better and we can make it happen with basic income.

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