The US labor force is rapidly shrinking. Wage
growth is non-existent. The vast majority of the American people have no
savings and little hope for economic improvement. But none of that
matters with the G-3 central banks in charge!
So today saw the latest installment of the
BLSBS. If you check your "mainstream" sources, you'll be led to believe
that everything is great and getting even better!
But look under the hood and you see that this is
all bullshit. The unemployment rate that Drudge blares on behalf of
Trump is only at its "lowest since 2000" because October saw an
astonishing 968,000 people leave the labor force. This leaves the total
number of people
NOT in the labor force at a record 95,385,000. Then, as ZH notes, "this
took place as the number of employed Americans declined by 484,000,
however since the unemployment rate denominator dropped more, it
translated into an actual decline in the unemployment rate!"
Read all about it here: http://www.zerohedge.com/news/2017-11-03/peop...p-out-one-month
Secondly, about this notion of "hiring bouncing
back" and the "economy rebounds". Do you recall this very prescient
chart from Morgan Stanley? Well, the two hurricanes messed up the math
BUT, since this BLSBS is all about "catch up", let's take another look:
If this chart had continued to be accurate (no
hurricanes), the combined total of "new jobs" for September and October
would have been 345,000. And what was the actual total? September was
revised today to +18,000 and this latest report had October at 261,000.
That's a total of 279,000. Hmmmm. How about that for your "rebounding"
economy and job market?!?
And the wage growth component was terrible, too,
with wages FLAT month-over-month and coming in at a growth of just 2.4%
year-over-year. This includes all of the high-end, top-salary types so
can you imagine what the actual wage growth is for the vast majority of
Americans who actually do all the living, working and dying? Try close
to ZERO!
But, of course, here's the thing. When the G-3 central banks attempt to control everything, none of this matters at all.
In typical G-3 fashion, the all-important USDJPY sank on the news, it
immediately double-bottomed and then moved higher at 45 degrees until it
was right back to where it was at 8:29 EDT.
And as I type, nothing has changed in the time
since. The USDJPY has continued to creep higher and I have a last of
114.10. CDG had nearly hit $1280 but it's back to $1276 and CDS is now
down 4¢ at $17.10.
So, in the end what happens? As
per usual, average and everyday Americans continue to get squeezed as
they work multiple jobs attempting to feed their families and pay their
taxes. The filthy rich and Wall Street bankers line their pockets with
ill gotten profits derived from the endless creation of fiat cash by the
central bankers.
Oh, and don't forget that you're now repeatedly
told about how "the Fed is tightening" and how this "makes the dollar
stronger". Yes, the dollar appears stronger but that only because other
fiat is weakening even faster. Don't believe me? Well check The Fed's
own charts! M1 and M2 money supply are both at all-time highs!!
And here's a fun, little "anomaly" for you.
Below is the same M2 money supply chart but I've added the price of
Comex gold. The scales are off and this makes the chart a bit difficult
to read. However, you can plainly see that, beginning in the fall of
2011, something changed. After tracking money supply growth pretty
closely since 2002, there seems to be a bit of a disconnect. Gee, I
wonder why and how?
But, whatever. It is what it is and as long as The Criminal Bankers remain in charge, not much is going to change.
To that end, look at what has happened to CDG
and CDS while I've been typing! Though the USDJPY is still 114.10,
suddenly prices are getting smashed lower. And why not? Again, when The
Bankers control everything, they can pretty much do whatever they want.
So we'll have to see where we finish the day. It
certainly appears that this onslaught has been designed to take out the
200-day MA on a closing basis. For today, that level is $1268.40 so
watch it closely.
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Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities. Since 2010, he has been the editor and publisher of the TF Metals Report found at target="_blank" TFMetalsReport.com, an online community for precious metal investors.
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The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.
