caseyresearch.com / By Chuck Butler / December 10, 2012 2:05pm GMT
There’s No Blaming Sandy For This One!
Good day. And a Marvelous Monday to you! Well. How about our Rams? 3 wins in a row for the first time since 2006! The game / win wasn’t pretty, but. a win on the road in the NFL is a good thing! I have no illusions of them making the playoffs, not this year, but. what a strong foundation to move forward from next year! We had all three grandkids on Saturday night, and we celebrated my wife’s father’s birthday yesterday. So, what I thought was going to be a weekend with nothing to do, was not to be! But that’s OK. it’s all good!
OK. another week has gone by, and nothing but finger pointing and drama from Washington D.C. regarding the Fiscal Cliff. Now, both sides are accusing the other of wanting to go “cliff diving”. What’s next? Oh well. And Friday, saw a very suspicious Jobs Jamboree. And all of this is good for the dollar. Stranger than fiction, right? Well. I told you before that if our lawmakers sent the economy over the Fiscal Cliff, that the so-called flight to safety of dollars and treasuries would be the trade du-jour, at least short-term, until someone realizes just how stupid that trade is. And if the lawmakers do find a way to kick the can further down the road, then the dollar would be sold like funnel cakes at a state fair. So. on Friday, and again this morning, the outlook for can kicking is dreadful. and the dollar rallies.
On Friday, the Jobs Jamboree produced a total of 146,000 jobs created in November, soaring way past the forecast for 85,000. Hey! You didn’t hear anyone blaming Sandy for the jobs numbers did you? And I can’t make a Big Deal out of the Birth / Death model adjustment this month, because, the BLS actually took 29,000 jobs away! See the games they play here folks? Last month they added 90,000 jobs to a report that was very weak to make it look better, and this month, with the number looking stronger (not strong, but stronger) they took some away, in hopes that nobody noticed. But let me remind you, that 146,000 jobs are not what a strong or growing economy is in need of. And. as always, I’ll remind you that the BLS doesn’t tell us what kind of jobs these 146,000 were.