The Bureau of Labor Statistic (BLS) released new jobs data on Friday. According to the report, seasonally adjusted total nonfarm jobs rose 150,000 jobs in October, month over month. The unemployment rate rose slightly from 3.8 percent to 3.9 percent over the same period. 

Econometric model building attempts to produce a laboratory with controlled variables. By means of mathematical and statistical methods, an economist establishes functional relationships between various economic variables.

For example, personal consumer outlays are related to personal disposable income and interest rates, while fixed capital investments are explained by the past stock of capital, interest rates, and economic activity. A group of such estimated relations constitutes an econometric model.

Sam Bankman-Fried (SBF) took a chance by taking the witness stand. Just like he has continually taken chances his entire life thus far. By all accounts he didn’t come off well as normal people would judge him. He is anything but normal on his best day, under cross examination he didn’t have a chance.

A History of Money and Banking in the United States: The Colonial Era to World War II
by Murray N. Rothbard
Edited with an Introduction by Joseph T. Salerno
(Auburn, Alabama: Ludwig von Mises Institute, 2002; 510 pages)