You can count on John Hussman to point out that today’s horrible jobs report is guaranteed to be followed by worse job reports over the coming months. Real time purchasing managers reports lead the BLS reports by two months. As you can see in the chart below, they have plunged over the last couple months. A critical thinking individual may note that the previous two times the purchasing managers surveys were at this level were 2008 and 2001. We just happened to be in recessions, with the stock market in the midst of falling 50%. But don’t you pay attention to these nasty facts. Listen to your Wall Street broker or CNBC bimbette. It’s always the best time to buy, especially when you are about to lose your job.
Jobs data: Plunging regional ISM and Fed data imply far larger job shortfalls in coming months versus recent average. pic.twitter.com/2f75s9rFsJ
http://www.zerohedge.com/news/2015-10-02/they-just-dont-want-job-feds-stunning-explanation-why-946-million-americans-are-out-
I never feel like spending money. Kind of rankles my wife actually.
Its not my fault. Why should I feel secure in my job? My job security and my performance have always been mutually exclusive things.
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BLS = Bureau of Lies and Statistics.
Lies, lies, and more lies.
that should be Bureau of lies and scams
More yuts want to ride and party than learn a trade or work and living off parents or welfare pays more than minimum wage (unlike their ancestors but like the 26 year old Mercer who flunked out of the Army and murdered 9 people in a gun free killing zone). So, who is John Galt?
Well, Husman should be counted as unemployed.
He has been predicting the stock market would fall to 4,000 every month for the last 7 years.
Starting to fell better about cashing in my IRA and buying Oro y Playta
TPC says:
“I never feel like spending money. Kind of rankles my wife actually.”
Yeah no kidding, I’m the exact same way. Makes me feel sick when it goes out in large chunks. My wife is good with it for the most part but she still comes up with a reason or two each year to spend a pile. She gets tired of staying the course all the time and not enjoying “some part” of the result “so far”. It’s an illogical question in my head but if wifey ain’t happy, I’m not gonna be allowed to be happy either.
Two movies with the same theme: La Strada and Bye Bye Brasil dealing with life on the road during hard times.