Well, it’s a Jobs Jamboree Friday today, and I’m wondering just what kind of shenanigans the Bureau of Labor Statistics (BLS) will put out of a hat to paint a pretty picture for the government. But before we see the color of the labor report here in the U.S. for February, we have other things to talk about, so let’s not dawdle around!
[Read more...]An Unexpected New Growth Industry for Retired Americans
February 29, 2012 By Leave a Comment
What does marijuana have to do with Ben Bernanke’s monetary policy? A lot, as it turns out. But it’s not what you think.
The connection has nothing to do with the idea that Bernanke’s wacky policies are the work of “somebody who must be smoking something.” No, not that. In fact, we’re pretty sure Ben isn’t a pot smoker. We doubt he has ever inhaled anything more mind-bending than his Harvard education. And frankly, why would you bother with weed, when you’ve got access to Harvard’s pharmaceutical-grade economic theories?
[Read more...]The Federal Reserve’s Explicit Goal: Devalue the Dollar 33%
February 14, 2012 By Leave a Comment
The Federal Reserve Open Market Committee (FOMC) has made it official: After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years. The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level.
[Read more...]Why US Job Creation Heats Up in Cold Weather
February 10, 2012 By Leave a Comment
We used to like traveling. Now, it’s a drag.
“No, we don’t want to go through your new x-ray machine,” we told the TSA guard.
“Whassa matter? It’s safe…” she replied.
“How do you know that?”
“The government said it was safe.”
“Do you believe everything the government tells you?”
[Read more...]RBA Sounds Upbeat About Global Economic Growth
February 7, 2012 By Leave a Comment
Good day… And a Tom Terrific Tuesday to you! Well… Yesterday, I realized that I couldn’t eat all day on Sunday, and expect to want to eat on Monday! But I’m ready to do so today! HA! I also realized yesterday just what a Donnie Downer I’ve been lately, with my insistence that there’s something going on to pull the wool over our eyes… That may be, but I’ve got to be more upbeat, eh?
[Read more...]Confusing Gradual Bankruptcy with Economic Recovery
January 25, 2012 By Leave a Comment
We have a wintry landscape here in Baltimore…or what is left of one. But forget the weather, happy days are here again.
At least, that is what you might think from reading the newspapers. Unemployment is going down. Consumer debt is going up. Even the housing market is showing signs of improvement.
[Read more...]Euro Reverses Slide in Short Squeeze
January 9, 2012 By Leave a Comment
The Jobs Jamboree on Friday proved to be a real boost for the economy and the dollar, which rallied on a “strong jobs number” for the first time in a month of Sundays. I highlight “strong jobs number” because, this is what this has come to… 200,000 jobs were created, so says the Bureau of Labor Statistics (BLS), in December, which is the strongest number of jobs created in another month of Sundays… The jobs reports have been so weak for so long now, that the media, and markets are all lathered up and calling this a “strong jobs number”… It’s stronger than previous ones, yes…
[Read more...]Eurozone Data Continues to Print Weak
January 6, 2012 By Leave a Comment
There’s a lot to get to this morning… but front and center is the Jobs Jamboree Friday… The first one of 2012, although it is December’s job creation report. The ADP jobs report yesterday, which was supposed to be the “indicator” for the Jobs Jamboree, but never really materialized as such, reported that 325,000 jobs were created in December… Now, that would be something to crow about… It will be interesting to see what the Bureau of Labor Statistics (BLS) comes up with… As I told you earlier this week, this is also the month were the “adjustments” to previous BLS reports are made… However, those won’t get a spotlight, and mass media coverage… They are done under the dark of night, sort of like the bill that was signed on New Year’s Eve by the President… If you’re not aware of that one, you should be… Your personal freedoms could very well hang in the balance…
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US Employment Figures Continue to Improve
Good day. This will take care of my call from the bullpen for now, so Chris will have the ball for the next couple of weeks until Chuck returns at the end of the month. The summertime heat finally loosened its grip on St. Louis yesterday, and the dollar strength, which had a tight hold in the markets earlier in the week, saw some pullback. We didn’t see much action in the overnight markets Thursday morning, so everything was fairly flat when I sat down at my desk.
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