Taking a Chomp Out of the June Jobs Report

The argument goes that the U.S. economy is rife with job growth. The only thing growing are government payrolls and the number of Americans turning to Uber Eats and gig work.

An independent and profitable state of mind.

Sunday, July 9, 2023

Dear Fellow Expat:

Six months ago, I sat in a small pub in the West Village with a friend from college.

We’ve been friends for 20 years. Our banter wasn’t much different than it was in 2003.

Old bits. Insider jokes. Changes in social scenes. But the conversation switched when she asked how long it had been since I moved out of New York City.

That was 2008… nine days before Bear Stearns collapsed.

Fifteen years later, I feel odd similarities to that period – and a connection to that time. I became a child and student of the 2009 Financial Crisis. It defined my career and my shift into finance and economics. It’s why I run multiple businesses, launch new products, and behave like everything can fall apart.

Our conversation went on a tangent at that West Village table. I explained why interest rates were heading higher and why she might consider taking a second job.

My friend barely had any idea what I was talking about.

Perhaps …