This was good news!
- Nonfarm payrolls rose 467,000 in January, well ahead of the 150,000 Wall Street estimate.
People were sanguine over the jobs numbers being too strong because they felt it would mean higher rates for the Fed. Well HELLO, what the fuck? Rates can’t stay at zero forever and if the economy is strong, well then, the case for stagflation is off the table, which means higher stocks.
I covered my shorts and sold down underperforming assets and bought some SAAS. I know you must think me to be a schizo, but the whole bear case was and is a weak economy. If that’s off the table, I’m bullish again.
Meanwhile, oil is on a runaway train and commodity related stocks are in play.
Yeah I don’t believe these number.
They revised the entire fucking calendar year of 2021, going all the way back to January. It’s not believable.
And we’ve also seen Q1 GDP estimates from banks and ISM growth estimates lowered as well. There are other datapoints here besides some BLS numbers (which have nervous Biden officials screaming at them in an election year).
Yeah nothing’s changed.
Without all these seasonal adjustments employment was essentially flat year over year.
But major thank you to BLS for this round of propaganda cracking the 10 year like an egg for me.
If you can’t make the numbers, make up the numbers.
It’s the law.
Sad but true. Any stat can be changed – if it relates to national security.
And what doesn’t relate to national security
Far as I can tell, if you don’t have a job now it’s because you don’t want to work
look at UVXY. It’s not buying the hype
Long is wrong.
Are daytraders on Robinhood included in the jobs numbers now?
The Biden economy is now legendary. The job numbers historic. Even Fly is ecstatic. Americans pocketed 3 trillion dollars for not working and they’re bitching about the price of a taco rising a quarter. Whiny bitches. That said, looks like I’ll be paying 5 bucks a gallon to fill my yacht’s fuel tanks. Fuck that.
SAAS pretty damn strong today.