I must say that the current news in virtually all areas must be very troubling for the many optimists who think that this is just another normal cycle. The economies around the globe are clearly not responding well, despite unprecedented massive monetary stimulus.
I thought it was interesting to see that last Friday’s U.S. jobs number finally reflected at least some reality. However, the jobs numbers are still grossly overstated due to statistical chicanery. Also, what is not discussed is the quality of jobs being created in the U.S. and what they pay.
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