Yeah, sure....
Posted on 03/07/2014 5:50:10 AM PST by John W
The Bureau of Labor Statistics says 175,000 workers were added to nonfarm payrolls in December, well above Wall Street’s consensus estimate of 149,000.
162,000 of those hires were to private payrolls, above expectations for a 145,000 rise in the ranks of private-sector workers.
The unemployment rate unexpectedly rose to 6.7% from 6.6%. Labor force participation was unchanged at 63.0%.
610,000 were unable to work due to inclement weather in February, above the historical February average of 317,000.
(Excerpt) Read more at businessinsider.com.au ...
Just got back from the Tampa area on vacation. I've been going down there about the same time since the crisis hit. Even this year it is still easy to get tee times on what were once totally private clubs. Before the crisis hit, it was hard to get a tee time for under $100 anywhere in Feb. One can play many of those courses for $60 or so. The golfers have been out in full force the last couple of years, but are unwilling to drop mega bucks to do it. The bars near the condo are full at 9:00 A.M., so money is flowing again...
I’ll be in Rehab by 2016 at this rate - and I may not come OUT depending upon who the new President is! :)
There’s not much more the Fed can do. They really are out of bullets. I suspect that Obama will not acquiesce even in the face of a GOP rout on Congressional races in the fall.
Obama and his cadres are true believers in a way that the Boy President wasn’t. Clinton needs to be liked and gets politics. He compromised and tactically cut around the GOP while coopting their program. He wraps himself in it all the time.
Obama will reject that and fight to the death. He’s taking Reid down with him along with the DNC. That’s why I believe little will change after the GOP takes over Congress. It will be better for us on judicial and other appointments, but Obama will still use every lever of federal power to undermine the free market.
So the next two years will be, hopefully, the GOP working to rein Obama’s abuses in and the 2016 POTUS will sit on the greatest economic expansion since the Lochner Era. Just undoing all the anti-business executive decisions would free up capital. The US could grow 5%+ in real terms as excess labor is brought into productive capacity and welfare/government debt is curtailed.
Agree completely. The Fed has done what it can do (and the right thing to do IMHO). It’s all been muted by the fiscal disaster in Washington on both sides of the aisle.
BTW your signature is perfect for this discussion :-)
Not sure why it is strange. Providing liquidity in a liquidity crisis is supposed to do exactly that. The problem is that it’s not working because of the crushing regulations and uncertainty coming from the fiscal side.
It’s always revised. Nobody should ever be surprised that estimates are revised when more data comes in.
We do a “flash’ report of our financials on day two of the month. It’s always different when we close 3 days later.
Is it always way off in one predictable direction?
Is part-time hires the reason the number of hires goes up and the rate goes up, too?
Isn’t it amazing how EVERY SINGLE ONE of obama’s “employees” are on the same page!
Have you ever studied University Economics by Alchian & Allen?
They make the correct argument that economics can only tell you the consequences of certain policies or conditions. It cannot tell you what is desirable. Its forecasting abilities are limited given the complexities of a 16 trillion dollar economy.
That’s why Chile did so well under the Chicago Boys. They taught Pinochet the correct policy. The people did the rest.
Country club buying opportunity. Things will come back. Eventually pessimism gives way.
Enjoy the deflation.
I agree. Most of the anger at the Fed is more anger over the fiscal policies out of Washington. They are the lender of last resort, they’re not the Treasury or the WH or Congress.
- SOLUTION :
- Call yourself a “Futurist” and open a cold beer……..
Yeah, sure....
Great chart buit where are we now on that chart - how many months?
“The unemployment rate unexpectedly rose to 6.7% from 6.6%. Labor force participation was unchanged at 63.0%.”
Please help a poor old senior citizen.
Has there ever been a monthly employment report where the word unexpected or unexpectedly hasn’t been used?
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