Even with the U.S Gov / Data being as “massaged” as it currently is ( with the numbers being modified / skewed as best they can to show improvement ) – unemployment claims have missed “yet again” for the 4th straight week.
Coming in at 313,000 after an expected 287,000 – the numbers continue to increase – all the while U.S mainstream media continues to “sell the story” that The U.S is well on its way to recovery.
I’ve harped on this before, but once again….take a minute to consider that in the past seven days 313,000 “more people” ( after 288,000 the week prior ) now seek unemployment benefits in The U.S.
Rough and nasty – a half a million “new” claims every two weeks, or 1 million freshly “unemployed” people per month…as the “downtrend in claims” has now been reversed.
I employ “anyone” to explain to me how consumer confidence numbers, GDP numbers or “any numbers” out of The U.S could possibly be an indication of “growth” with 1 million new people lining up at unemployment offices every single month.
The number ( and it’s longer term implications ) is literally – right out of this world.
Now there will obviously be those of you who will contend “who really cares as The Fed has got our backs”. So essentially what you are saying is that……no matter how bad things get ” it really doesn’t matter” because The Fed ( and The Central Banks in general ) will just keep the party going no matter what.
So in that sense you must be an “advocate” of such monetary policy.
Policy that continues to kill your currency, killing your buying power and reducing your savings ( and most certainly the savings of your parents / grandparents ) to such an extent that people who at one point may have considered “retirement”, now have little choice but to keep “slugging it out in the trenches” another 8-10 years longer.
What kills me is that “you’ll riot in the streets” over the injustice you feel so strongly about ( when a cop isn’t prosecuted for a murder that perhaps you feel he should have ) but will just sit back on the couch and continue to stuff your face with Doritos – watching your Government and The Fed rob you blind.
Is it true that The U.S educational system has been degrading at such a phenomenal pace, that people really “truly” claim that they “just don’t understand”?? Just….back to the football game on T.V, back to the frozen pizza and coke, back to complete and total ignorance as to what is “truly going on” around them?
I’ve never wanted to believe that, but there really does come a point…..
After 5-6 years of supposed “economic stimulus” ( and one would think “recovery” ) – U.S Unemployment figures are back on the rise.
You always make great points in your blog Kong. Very well articulated and thought provoking even though I disagree with a lot of what’s written. I enjoy the money and going with the trend especially when it comes to buying dollars has been great this year. I’ve faded a few moves but by far the majority of my P/L was made just following the flows.
When that changes and the money is on the other side I’ll switch positions. I honestly have no preference. Bull or Bear, Up or Down. Doesnt matter to me in the least bit.
Have a Good Thanksgiving, Time to get back to the football game on T.V, food and cold beer.
It was twenty-five years ago when I read Peter Lynch’s book “One Up On Wall Street.”
He got rich and famous at the helm of Fidelity’s Magellan Fund by paying attention to such things as P/E ratios and Balance Sheets, etc.
But I wonder how ol’ Pete would have done in today’s market, still betting on what SHOULD be happening.