Where are the Jobs? Friday the Dow Jones opened down, falling as much as 258 points, to only then completely reverse direction and ended the day up 200 points for a more than 450-point swing! This was the biggest one-day percentage reversal in about four years. What drove the crazy move? This wild move was based on the very disappointing jobs report released Friday morning. Yes, you read that right. A market rally on a weak jobs report as we return to bad news is good news and wonder, where are the jobs? Whoop whoop! http://elleseconomy.com/2015/10/05/where-are-the-jobs/
It turns out jobs are not required for a wealth driven economy. Just high walls to keep the minions and ne'er-do-wells out! In fact, no jobs is better because much less money is wasted on problem elements of corp structure and allows more money to be paid to the real value areas such as CEO, top executives, board members and chairmen, corp jets, retreats in Swiss Alps, education (prostitutes, booze and gambling). Jobs seem "better positioned in lower cost regions outside the US" and this fact will need to be accepted by the American People. Also, the people will need to accept new formulations of Unemployment numbers and that we should all ignore people who have left the job market (you know: suicides, depression, alcoholism, institutionalization, daytraders, homeless, professional gamblers and tech start-ups) and that these numbers will be completely ignored by the Federal Statistics Normalization Bureau. Now that fast food and Walmart pays a "living wage", we must accept the fact that much of our population going forward will need to position themselves accordingly and in these positions will be counted as fully and gainfully employed. That and of course obama care and the .gov teat to nurture the tired, poor, huddled masses yearning to breathe free, these wretched refuse of our teeming shore. God Bless America
Well done, Price Change...we've become "The Onion" economy...the lines have blurred between sarcasm and reality...one of the more glaring headlines over the weekend had to do with companies laying off employees and buying back stock (viewed as very positive for the stock price)...we have CB's replacing the lost purchasing power of the consumer and companies leveraging ZIRP to reduce the float and boost their accounting metrics.