Equity futures are up slightly this morning, with the dollar holding in its recent range, bonds are slightly higher, oil is hanging out at $85, gold is still correcting at $1,740, silver is flat, as are most food commodities.
Really, the “Fed” is meeting at Jackson Hole and the world is waiting with bated breath? Turn on the T.V. and the clowns will tell you what the criminals might do, this or that, criminals & clowns. It’s quite a freak show, and their location says it all. Note that they aren’t meeting in Detroit. It could just as easily be monikered “The Narcissist Convention,” whose motto is, “Proudly taking more than we give, since 1913.”
For the non-narcissists out there, if you are feeding the criminal’s “markets,” then you might want to think about karma for a minute or two. Humankind is made up of trillions of little transactions that all equal big things, and a general direction. If you like the current state of impossible math affairs, then by all means, keep trading those wonderful ETFs and providing fuel to their HFT fires. But if you don’t like the flames, then perhaps we should all work to remove the fuel? That’s what I’m saying, in fact I’ve created a path where some of that fuel can be used to produce real things and create real jobs. If the situation bothers you and you would like your life’s energy to be truly productive, get in touch.
I’ll say it again, the markets are not real, and the “Fed” Ponzi is coming to an end. It was easy for math literate people to see a decade ago, and now even those who don’t ‘do’ math can see it. Just look at Libya, amazing how fast things can turn. One day you’re supporting those in power, and the next you are a hunted criminal. Karma. You don’t want to be on the wrong side on that day – think about your actions is all I’m saying.
Yesterday and still today the clown complicit media was touting the trumped up Durable Goods report. Today the Weekly Jobless Claims rise again, yet almost no mention of it in the circus… from the clowns. Fluff with no substance, it’s the fluff circus with complicit clowns and narcissistic criminals running the show. Embarrassing is what I say.
Weekly Jobless Claims jumped 9,000 to 417,000 from last week’s 408,000. Of course last week was revised higher 4k and so Econocomplicit compares apples to oranges to say that claims only rose 5,000 instead of the 9,000 it actually did, thus underreporting the climb by nearly 100%. Fluff, here’s the complicit clowns:
Initial jobless claims rose 5,000 in the August 20 week to an adjusted total of 417,000 but were skewed higher by a labor strike at telecom provider Verizon that has since ended. The Labor Department says there are at least 8,500 claims related to the strike in the week and at least 12,500 in the prior week (these levels are before adjustment). The adjusted total for the August 13 week is revised 4,000 higher to 412,000. The four-week average ended its seven-week run of declines, rising 4,000 to a 407,500 level that shows a 7,000 improvement from the month-ago comparison.
Continuing claims for the August 13 week fell 80,000 to 3.641 million for the lowest level since September 2008 and the financial meltdown. The four-week average is down 20,000 to 3.701 million with the month-ago comparison showing little change. The unemployment rate for insured workers, at 2.9 percent, has been inching back and forth between this level and 3.0 percent since February.
Markets are showing little initial reaction to the report which, outside of the Verizon strike, points to mildly improving conditions in the labor market.
My hope is that the clowns who earn money writing this tripe are fully invested in these markets – I’m sure they are, and I’m sure that in the end they will get what they deserve. If you don’t want to wind up in the same place as them, then I suggest you get real.
Those getting nervous by the attack on gold shouldn’t be. Gold is not going to collapse to nothing, not as long as the “Fed” is still wrongly in control of the production of our money. Sure, they are going to do everything they can to manipulate it and to shake you out of your position, that’s because the narcissists know what’s real and what’s not and they want it for themselves – narcissists don’t like others possessing more of what’s real than they do. Gold could lose half its value and still would have tripled from where it was just six years ago. Hang on, you will know it’s time to let go when you see something similar to Tripoli happening on the steps of the “Federal Reserve” building.