The economy added just 38,000 jobs for the month of May, well below the median forecast of 160,000. While futures are dropping, treating this like chewing on a bag of lemons, there is a silver lining.
If your view was similar to mine, that the economy always sucked and the Fed was suicidal for even thinking about hiking rates into an earnings recession, these numbers are your friend. With BREXIT just around the corner and these numbers hovering over the market like a black cloud, there’s no way the Fed will hike rates in June. If the numbers don’t improve, they will not hike in July either.
Theoretically, a bad economy that just sort of languishes, propped up by QE money forever is precisely what is in store for markets, sort of like Europe.
The unemployment rate plunged to 4.7%, as people fled the jobs market in droves, likely to sell marijuana plants in Denver from the back of their Winnebagos.
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Looks like America needs to be made great again. This is not a very great version of America. We need to Make America Great Again.
Check.
Your move, Frog.
She’ll be here shortly, handing out fleece vests.
Buy gold with both fists. Vote for Hillary 10-20 times in November.
Wonder what those birth-death numbers were this time… For all those new players: O administration came with the birth-death component of jobs suddenly skyrocketing in favor of number of ‘birth’ companies created. Gee… that means they could always severely lower or curtail that magic-peculiar-mystery number as well right…
Yes, I want to make America great too. Feel the Bern.
Here are fleece vests for each and every Devil Dog. Each vest has a silver lining.
If anyone is so new to ibc that they have not seen the amazing Devil Dog video, here it is.
http://ibankcoin.com/rcblog/2011/09/30/mr-devil-dog-addresses-ibankcoin/
Gold,
The working age population is growing only at a rate of 100,000 so 200,000 new jobs per month just isn’t sustainable. Anyway, reduced chances of rate hike, dollar down, and Brexit won’t happen.
So BTFD and be happy.