The most troubling figure in today's JOLTs report was the annual rate of change in hiring, which as shown in the chart below, dropped 2.2% compared to the 5.212 million a year ago. This was the biggest contraction in hiring since March 2013.
"The decrease reflects Chinese economic downturn, which is just now beginning and will last a long time since China has passed its economic boom period in which many problems were hidden but now those problems will gradually surface."
"The COMEX has nothing to do with gold. That is simply a casino where gamblers place their bets on the gold price...The manipulations are being exposed and it’s only a matter of time before their schemes backfire"
Despite a small rise MoM, The Fed's own Labor Market Conditions Index has now deteriorated year-over-year for 5 straight months, despite significant upward revisions over the last 6 months, most notably in September and October. As Deutsche's Jo Lavorgan notes,"the upshot is that the economic outlook remains fragile despite the ostensible robustness of the labor market."
Less than a month after the "shocking" election of Donald Trump as US president, the world prepares for another day of political shockwaves, this time out of Europe, when on Sunday all eyes will be on Italy and, to a slightly lesser extent, Austria.
This general populist backlash that we’re seeing now isn’t new. It was born out of the 2008 financial crisis. Many are still coming out of that debt burden and harbor a sense of deep resentment and suspicion. Wall Street knew what was taking place then, but like today, the media didn’t paint a full picture for everyone. As a result people lost their homes, their jobs and their life savings. We deserve so much more than to be just entertained.
As all experience from the past clearly demonstrates, it is a mistake to believe that the gold price is set solely by dollar interest rates, or its relative strength in other currencies. This being the case, the current weakness of the gold price is simply a reflection of temporary dollar shortages, and nothing more.
A new study from the University of New Hampshire Carsey School of Public Policy brought some welcome news to disaffected Hillary supporters as it confirmed that white populations are shrinking fast in the key swing states of FL, PA, NV and AZ.