toddpw

Job Growth? This Economy Is Hotter Than I Thought

In Soviet America, economic data falsifies YOU!

Seriously though, the more I learn about the economic data reports, the less I trust them. They've redefined unemployment, inflation, etc, to the point where more attention is paid to the RPM of the engine than to the actual distance we're traveling.

One wonders just how much consumer spending is now coming from the uber-rich -- if they all buy new yachts, that pumps up GDP so who will notice if the poor are now starving because of food and energy inflation.

But suppose consumer spending did tank here -- with all the blue chips globalized now, would the stock market even notice? Just long enough to predict another Fed rate cut, I bet.

The biggest Ponzi scheme in history is almost over, my friends. Helicopter Ben Bernanke bailed out his Wall Street buddies and gave them time to get out, while the retail investors are all told to buy on dips because the economy is strong.