Friday, 5 February 2016
Once again we have the BLS and the Obama administration EIR (entirely ignoring reality) on NFP Friday.
- But never you mind, we're 7+ years into the Obama "recovery" and moving "forward" at flank speed. Full steam ahead!
Sure, the January '16 NFP sucked hard enough to remove the bend from the Potomac river, adding only 151,000 jobs (70% of them being minimum wage jobs, btw), but we're being told that the unemployment rate has fallen to 4.9%.
- If this continues we will achieve ZERO unemployment and nobody will even be working. Huzzah!
This "good news" was again the perfect opportunity for the wise guys to celebrate by kneecapping precious metals spot prices on the COMEX, an organization as dedicated to honesty as the government is.
- Sell Mortimer, sell! Happy days are here again!
From Theo Spark at 20:30