by Dave Kranzler, Investment Research Dynamics:
Every good lie has to retain an element of truth. If today’s non-farm payroll report is the best possible lie, how bad is the truth? – Investment Research Dynamics
Well, now we know why they aggressively and blatantly tried to push gold as low as possible this week. Is this the best they got?
I am not going to discuss the actual details of what was reported in today’s NFP (non-farm payroll report). This serves no purpose other than to imbue the numbers that were reported with some sense of legitimacy. The numbers are a fairytale and I’m not in the business of engaging in a debate over the “finer points” of fantasy-derived fiction.
Having said that, and given that the August lie was revised lower by 21%…think about that for a moment: the stock market screamed higher on a number originally reported in September that they decided was incorrect by twenty-one percent…let that sink in for a moment…one has to wonder just how bad the truth is that lies beneath the carefully constructed fiction.
If you take a paint-scraper to the heavy latex paint applied on top of the facade, just how badly damaged is the underlying structure?
Again, without giving any assent to the validity of the number that was reported, the Government is telling us that the percentage of the population that is “participating” in the labor force is at its lowest rate since 1977. That is a staggering statistic because in 1977 this country was largely still a one-income producing household. So how catastrophic is the real number?
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