BLAME BUSH (not anymore)....Another win win jobs report setup... The so-called analysts say the unemployment rose in Sept. to 9.7 from 9.6. So once again, they have come in lower than likely so if the unemployment is 9.6 the market can be euphoric. Now if it comes in a 9.7, then the tepper camp will be cheering QE II or X or whatever the next pump will be. After all.. QE I worked like a dream for Goldman even if it did nothing for the economy.
Personally, I wish they would report the real numbers 17.4% And maybe it goes to 18% or in the phony numbers over 10%. 10% is double digits and the electorate might get fired up. They need to get fired up. Plus the Fed will then infuriate Americans with QE II but Goldman will be delighted.
As a point of historical fact. This has been the recession to which more money has been thrown than any similar event in history. Two years out we have a continuing rise in unemployment which has never happened before. By now all other recessions had shown a strong improvement in unemployment. What is different now too is the huge bloat of gov. Obama has expanded gov nearly 36% in his first two very long years in office. So this is more weight an overload on the Gov and state Gov have stretched the property tax to the limit. So now it is time for Gov to slim down. And you see how well California is taking it... libs and their Rino gov are just pushing debt forward which will only result in more overhead and eventually more chopping unless they can get the Federal Gov to start printing money for California. So eventually this self-feeding destruction will collapse. Whitney says this will be the municipalities first.
Gov caused all of this mess with bad policies, and out of control spending. So more Gov spending by QE II will only drive unemployment higher by making gov so bloated that it collapses.
This is the story of socialism; it always runs out of money and collapses. Socialism is self-extinguishing.
I think if unemployment goes up over 10% [the fake number] then the public will start to question QE II because QE I only worked for Goldman [Goldman the "Bank", the only Bank in America with no branch offices and no ATM machines. Hey they are a bank charter so they get Bank funds from the Federal Reserve... a great place to get a loan for a new Bass Boat.]
Meanwhile the obamacare taxes loom and most businesses are now figuring out how to remove manufacturing from America or convert their service staff to independent contractors. And insurance companies have all raised their rates by 25% across the board in two months. But remember this is not inflation... Obama administration said this was expected... If it was expected, how come it wasn't disclosed to the public or a part of the Obamamath projections. In fact, the 25% increases in premiums, completely demolish all the projected obamacare cost savings and long term deficit reduction projections. Yeah... they expected the 25% increase and I for one believe them because that means their numbers were fraudulent to begin with... and that's the Gov that I have gotten to know over my lifetime.
doug
