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Friday, July 8, 2011

Friday July 8th Jobs Report

~ 'Rise N Shine Sleepyhead...'

Friday's jobs numbers were released by the Bureau of Labor Statistics...

18,000 jobs created in June... in totality.  9.2% Unemployment.

Where to begin...   Think I will start with some questions:

*  Who are these so called "experts" that the lazy media and Evil investors listen to?  They thought they were so "clever" to predict 80k as to cover their asses and avoid a repeat of last month's over-optimism.  And why after 3 years are they not yet fully discredited as know-nothings by now?

*  Where the hell did Wall St. get its figures from to assume 175k jobs would be created?  And shouldn't they be feeling pretty Fucking Stupid right about now to have invested in the market this week, all in preparation of making a killing today?

*  Why are traders and investors such Cowards? If they really believed the lies and rationales they spew about 'recovery', they'd keep their money in the market and demonstrate confidence in the economy on days like today by not pulling back.  And if the cockroach traders and investors rush in on the dip and push the Dow up on Monday, does that mean the economy is now better?

So let's cover this big story from different perspectives.. something mainstream media never does anymore..


First the media itself... Will the worthless, Horrid media continue with 'recovery', 'soft-patch' and every other cutesy term to imply these figures are blips?  Oh, You Betcha!

"Stocks dropped on Friday and the Nasdaq looked to end an eight-day winning streak as a weak jobs report dashed hopes the economy was emerging from a soft patch" - Reuters

"Weak hiring casts doubts on strength of rebound" -  AP Headline

"The contagious refrain of an economic soft patch withered into a chorus of moans and groans Friday as investors prepared for what likely will be a tough slog ahead." - CNBC

Next how are politicians and 'experts' taking the news?  You know people never like to admit defeat.  They never like to admit they are wrong.  And if cornered into a spot where they have to concede they were in error, they either selectively choose their words or minimize the bad, and turn into Nostradamus, with the ability to predict a rosy future.

“The details aren’t quite as bad as the headline" — Ian Shepherdson, High Frequency Economics

“This was a very weak report and it suggests that the slowdown in economic activity may have been deeper than thought. Even so, we believe that the worse of the slowdown is behind us and expect the pace of jobs growth and economic activity to accelerate in the coming months.” — Millan Mulraine, TD Securities

~ Are you kidding me?  Based on what, you smug bastard?

"I hope the news that our economy is not creating jobs at an acceptable rate will cause Republicans to start taking job creation seriously." --- Harry Reid, Senate Majority Leader, Democrat

“Today’s abysmal jobs report confirms what we all know – that President Obama has failed to get this economy moving again.” — Mitt Romney, Republican Pres. Candidate

~  Must everything be a partisan game to these morally bankrupt people?

~ "My Daddy says Monday's going to be a great day to Invest!"

And now let's turn to the filth of the trading floor... what are some of the opinions of the even more morally bankrupt, soulless people who profit each day on Wall Street?

“I don’t necessarily believe this recent rally is over,” said Robert Pavlik, chief market strategist at Banyan Partners. “[Friday’s] action is all about jobs. But if we get some better-than-expected earnings and some decent guidance next week, it will quickly redirect the market’s attention away from this weak employment report.” -  MarketWatch

"Top Traders:  We're BULLS --- Despite Jobs" -  CNBC headline

"(Warren) Buffett remains optimistic about the recovery and sees no danger of a second recession." - AP

~ Well, if "God" says it, then it must be so...

"There's very little fear on the floor. "I'm using the weakness to buy," reveals trader Steve Grasso." - CNBC

And how is the bleak jobs picture affecting everyday Americans?   That's actually the hardest to find quotes on.  The media do not tend to seek the opinions of those who are suffering.  They focus instead on those in nice business suits who are observing and profiting from it.  Suffice it to say, the only reason anyone should be surprised by the jobs report is because they believed the Hype of 90-175k jobs created which was floated all week by the media.

One last point:  The lazy media never takes the time to break down the monthly jobs report and inform its viewers or readers as to how various gender and racial demographics are faring.

We Do.   From http://www.bls.gov/news.release/empsit.nr0.htm

14.1 million unemployed Americans "Officially"  (many many more unofficially)\

"Since March (2011), the number of unemployed persons has increased by 545,000, and the unemployment rate has risen by 0.4 percentage point (was 8.8% then)"

Adult men - 9.1%
Adult women - 8%
Teenagers - 24.1%  (just about 1 in 4 unemployed)

Whites - 8.1%
Blacks - 16.2%  (that's Double; 1 out of 6 unemployed)
Hispanics - 11.6% (little more than 1 out of 10 unemployed)
Asians - 6.8%

44% of total unemployed (6.3 Million) have been out of work over 27 weeks

~ Every time you hear some agenda-driven TV pundit say 'recovery' or 'soft-patch', or read it in a corporate driven newspaper or other internet outlet,  think on these numbers.. think on this posting on the whole, and consider yourself fortunate to finally be Awake.

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