Econ numbers don't lie.
What we got here are facts on actual payroll withholding showing plunging earnings---
---and the Fed's composite job market indicator:
Sure, left-wing pundits pick, chose, and distort, just as some of our freeper colleagues here throw up their hands and say that all numbers everywhere are all wrong.
The rest of us know that while figures don't lie, that liars figure.
Top 'o the morning waking up to mixed stock futures (pointing either up or down) while our hoards of gold and silver are now being offered $1,275.65 and 15.69. This comes after yesterday's quiet stock action ending mixed in soft trade but w/ small caps taking the lead.
No major econ reports today, but we got news:
Will Fed Spoil Another Run at Dow 18k? - Anthony Mirhaydari, Fiscal Times
The Markets Are Stretched, So I'm 'All-In Short' - Doug Kass, RealMoney
Are We Going to See S&P 2,500 Anytime Soon? - Avi Gilburt, MarketWatch
CA's Bullet Train Is Troubled, But Also Necessary - Michael Hiltzik, LAT
Jobs vs. Trump: A Tale of Two Con-Artists - Rob Enderle, CIO Magazine
Trump Takes Aim at the Tech Sector - Tony Romm & Nancy Scola, Politico
Blame Elites? They're All Economically Elite! - Michael Wolff, USA Today
In Bernie's Weird World, We'd All Be Equally Poor - Kerry Jackson, IBD
It Turns Out Most Workers Want to Have a Boss - Justin Fox, Bloomberg
Our population, legal plus illegal, is increasing faster than the jobs “created”.
“federal income and employment tax withholdings. “
That sounds like a good metric. I wonder where they find it. Another I always thought that would be good is California sales taxes. If you could get a monthly or better yet a weekly read on that you would have a pretty good idea of what’s happening.
BFL