“America may be a service economy but for the sake of tomorrow’s NFP let’s pretend it isn’t. Because if the employment component of the Non-manufacturing (i.e., Services) ISM, which at least in the pre-centrally planned times correlated with the NFP number with an R2 of about 0.9, is indicative of what to expect, one can kiss any hopes of a recovery goodbye. Which, of course, is great news! It means the Fed will never pull out and never realize that it is the Fed’s central planning and market manipulation that is responsible for the every deeper global economic depression which benefits only stock holders (and traders).
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