by Lee Adler, Testosterone Pit.com:
The Fed’s efforts to stimulate faster job growth by printing money have been futile. By now, it’s clear to everybody, even the Fed, that QE does absolutely nothing to stimulate economic growth while fomenting bubbles in housing and stock prices. The Fed will disingenuously use steady job growth as an excuse to begin cutting back on QE soon. The real reason lies elsewhere. The Fed is worried about the expansion of these asset bubbles. If they’re not worried, they are even more insane than I thought.
The BLS reported a seasonally adjusted (SA) gain of 162,000 in July nonfarm payrolls Friday, missing the consensus estimates of around 175,000 from surveys of economists by mainstream media organizations. We had an inkling of this from the real time Federal tax withholding data in July.
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