North American economy in retreat

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2 years 10 months ago #497 by RonS
RonS replied the topic: North American economy in retreat
More and more around the world, US data loses credibility

Egon von Greyerz: “On Friday we had another set of figures which although fake, still shocked the financial world. Non-farm payroll increased by only 38,000, massively lower than any forecast. But add to that 244,000 fictitious jobs created and 484,000 workers which were forced to go from full time to part time work, then we get to a reduction in full time jobs of 690,000!…

kingworldnews.com/legend-warns-crisis-is...-be-nowhere-to-hide/

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2 years 10 months ago #493 by RonS
RonS replied the topic: North American economy in retreat
Pretty dismal employment report today at just 38,000 and they still had to use near record high amounts of job creation with the magical birth death rate model - 224,000 what a joke
www.bls.gov/web/empsit/cesbd.htm

They used one of their other common tricks to and revised March and April downwards by 59,000 jobs

money.cnn.com/2016/06/03/news/economy/us...section=money_latest

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2 years 10 months ago #486 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
Seems stupid they would consider a rate hike when bankruptcy and defaults are on a new uptrend and moving beyond commodities and oil - into retail and consumer companies , check this Bloomberg peice


www.bloomberg.com/news/articles/2016-05-...-outside-commodities
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2 years 10 months ago #478 by Gambler
Gambler replied the topic: North American economy in retreat
And check this out, markest up big today and Bullard pipes up about a rate hike

www.cnbc.com/2016/05/24/st-louis-fed-pre...-data-favorable.html

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2 years 10 months ago #477 by Gambler
Gambler replied the topic: North American economy in retreat
I agree, I think they just flashed an ace to see what the table would do. They know and we know the economy is the shits, but raising rates won't matter there

I think they more worried about the stock market, it was getting close to last years highs, so a good time to float a bluff out there and see what happems

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2 years 10 months ago #475 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
Amazing one week later and they talking about a rate hike. I smell a bluff

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2 years 11 months ago #465 by Gambler
Gambler replied the topic: North American economy in retreat
Wow, I seen that too and was going to post it here but you beat me to it.

Just amazing how the FED has been masking an economy in severe decline when they know better.

“You are more likely to hear from your buddy that he is on Viagra than that he has credit-card problems,” says Brad Klontz, a financial psychologist who teaches at Creighton University in Omaha, Nebraska, and ministers to individuals with financial issues. “Much more likely.”


And how the world has changed, we feel better talking about sex than money - Well I guess they related ha ha!!

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2 years 11 months ago #454 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat

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2 years 11 months ago #453 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
This is an amazing article by The Atlantic on a fed survey that showed 47% of Americans would have to borrow or sell something to come up with $400 emergency funds.

This is not what you find in a good economy or one that is supposedly at 5% unemployment which is a bigger joke than this cover story picture

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2 years 11 months ago #445 by RonS
RonS replied the topic: North American economy in retreat
A good interview with Fed member Bullard here
www.cnbc.com/2016/05/05/outspoken-fed-of...ing-japans-path.html

James Bullard, president of the Federal Reserve Bank of St. Louis, doesn't know when the American economy will fall into another recession. But he says it's increasingly likely that it will happen before the Fed has a chance to return its benchmark interest rate to a historically normal level.

He is probably right there as we may be headed into one right now

On raising rates - "If you talk to people in Tokyo, they say, 'Well, we've been through this and tried all these things and you guys are just following us,'" he said in the interview. "I hope that's not exactly true."

The general rule of thumb within the Fed is that labor market data trumps G.D.P. data. But when you're talking over a four-quarter sequence where you've had weak growth, that starts to become more suspect. We've projected 3 percent growth around the corner for the last several years in a row. But that just hasn't materialized, and I think at some point you have to take the signal that's being sent.

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2 years 11 months ago - 2 years 11 months ago #430 by Gambler
Gambler replied the topic: North American economy in retreat
What amazes me, those counted as not in the labor force surged by 562,000 for the month to more than 94 million. They make it look good by not counting all these with no jobs, and in most cases they just gave up looking for now

The population of Canada is 33 million. In the US that is like 3 Canada's sitting there with no job or if you look at the Canadian labour force at about 19 million.

It is like having 5 Canadas sitting there with no jobs and they talk about 5% unemployment rate.

I am not falling for that bluff and I bet those 94 million Americans are not being fooled either
Last Edit: 2 years 11 months ago by Gambler. Reason: spelling

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2 years 11 months ago #429 by RonS
RonS replied the topic: North American economy in retreat
Good comments folks, Lynnsa they have no choice to fudge the numbers. How would it look if they reported job losses just 4 months after an interest rate hike?

They would look like idiots for the bad mistake they made.

We now have a better idea why retails sales have been falling, the job market sucks

They will fudge them short term to drag it out and hope for a turn around and gradually drag out bad numbers and blame it on the Global economy

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