People are starting to get it. They understand the system has morphed into a rigged fraud, and they understand that Sanders really, desperately wants to change it.
It appears the growth-value divergence is collapsing...
Starting with the infamous month when it all started falling apart, December 2007, the US has added just 186,000 native-born workers, offset by 13.5x times more, or 2,518,000, foreign born workers.
Not warm enough to support growth guesses and not cold enough to keep The Fed on the sidelines... stocks are not amused by today's "great" or "terrible" jobs data and the S&P 500 is back below 1900, down over 10% from record highs...
According to the BLS' breakdown of jobs added in January of the 151,000 jobs added in the past month, retail trade added 58,000 jobs in January, while employment in food services and drinking places, aka waiters and bartenders, rose by 47,000 in January. In other words, 70% of the job gains in January went to minimum wage workers.
Just days after Fed whisperer Goldman Sachs made its first (of many) revisions to its Fed rate hike schedule, and no longer expects a March rate hike (if still somehow seeing 3 rate hikes in 2016), moments ago Fed mouthpiece Jon Hilsenrath reiterated the Fed's latest favorite catchphrase - that would be "watchfully waiting" for those who haven't paid attention - , and said that today's jobs report leave the Fed in limbo when it comes to the March rate hike decision. More importantly perhaps he adds that "Fed officials were expecting a slowdown." However, when one adds the 105,000 in prior month revisions, was is this big?
Emergency responders are on the scene of a reported crane collapse in lower Manhattan. As CBS reports, it happened just before 8:30 a.m. on Worth Street near Church Street in TriBeca. There are reports of people possible trapped in cars. Fire officials said one person is dead and at least two others are hurt. “I just felt it. It felt like a bomb,” one witness said. “This is just crazy, it’s huge - it’s enormous.”
There has been an economic coup d’état in America and most of the world. We are now ruled by about 200 unelected central bankers, monetary apparatchiks and their minions and megaphones on Wall Street and other financial centers. Unlike Senator Joseph McCarthy, we actually do have a list of their names. They need to be exposed, denounced, ridiculed, rebuked and removed.
The most obvious reaction to the "great" drop in the unemployment rate and "huge miss" in payrolls is a rise (yes rise) in rate-hike odds for 2016. This appears to be why the Dollar is spiking and bonds, stocks, crude, gold and everything else is being sold...
“I do not know any progressive who has a super PAC and takes $15 million from Wall Street."
“Enough is enough. If you’ve got something to say, say it."
January Payrolls Miss Big, Adding Only 151,000 Jobs, But Hourly Wages Jump And Unemployment Slides To 4.9%Submitted by Tyler Durden on 02/05/2016 - 08:37
A quick glimpse at the big miss in the January payrolls report, which just reported only 151,000 jobs gains well below the 190,000 expected and below most big banks' expectations, if precisely on top of the whisper number, would have been sufficient to send futures soaring in the pre market: after all it would mean the economy has topped out and no more hikes are necessary. However, one glance below the headline and things get troubling because if indeed the Fed is most focused on the growth in hourly wages then we may have a problem: average hourly wages jumped by 0.5%, far above last month's unchanged print, and quite a bounce to the expected 0.2%, suggesting wage inflation is starting to heat up and putting the Fed in a very uncomfortable place.