BOOMING ECONOMY: Gold & Silver Knee-Jerk Higher After Exactly 850,000 Jobs Created In June

July 02, 2021 / www.silverdoctors.com / Article Link

Motor Vehicle and Parts Manufacturing lost 12,000 workers, yet Automobile Dealers gained 8,000? Seems legit...

(by Half Dollar) Gold & silver have knee-jerked higher on the most recent jobs report, which will surely be used to push the "booming economy" narrative.

Wait.

Didn't Trump tell us the stock market would crash and the economy would collapse if Biden was "elected" "President"?

Meh.

Probably nothing.

Regardless, if you believe the numbers, which I do not believe, here's a breakdown of the BLS Employment Situation Report for June, 2021:

Total employment rose by 850,000 (How cute!)Unemployment rate ticked up by 0.1% to 5.9% (Something's gotta be bad!)Labor force participation rate was unchanged at 61.6% (It's a wash!)Average hourly earnings rose by: $0.10 (The Bottom-Up Wealth Effect!)

It makes sense that the Fed, the Feds, and their Propagandists will run with the booming economy narrative, because so far, the "inflation" has been spun as "transitory", mostly due to supply chain disruptions and so-called "base effects", but if the inflation persists, which it will persist, well now, that's the "good" kind of inflation because it's brought on by a boom on Main Street like we've never seen Main Street boom before!

Making America Great Again By Building It Back Even Greater!

Or whatever it is they say.

Yeah!

Run it hot baby, run it hot!

Of course, this jobs report will keep the "rate hike" talk alive and well, and a good jobs report will keep market participants arguing over every single word coming out of the various Fed Heads' mouths, trying to get a sense for when the Fed might get tough on the economy, which some Fed Heads will pretend the Fed is gettin ready to do as other Fed Heads say, "no way, Jose!".

Here are some interesting things from this month's jobs report:

Motor Vehicle and Parts Manufacturing lost 12,000 workers, and yet, Automobile Dealers added 8000.The US lost 33,000 Construction Workers, Commercial Specialty Trade Contractors, and Engineers.Retail, Leisure and Hospitality added 410,000 jobs.State and Local Governments added 230,000 jobs.

Why are those four points interesting?

They are interesting because superficially, they speak to the quality of the "recovery" in that the good paying jobs are lost while America returns to a being a nation of low paid waiters, cashiers and retail clerks, all the while the government is adding lots and lots of good paying jobs with posh benefits, which is a problem in and of itself because the government does not produce anything, but rather, the government only consumes.

Well, actually, the government also blows things up and kills people, but that's the topic for some other article on a different day.

Gold & silver knee-jerked higher when the report hit the tape:

All things considered, a booming economy narrative is not "good for gold".

Of course, nothing is ever good for gold, or silver, because that's how the MSM propagandists roll.

Theoretically, this latest jobs report is "bad for the stock market", but let's not get it twisted: The stock market is given a different kind of treatment than gold:

All-time record high, again!

Shameless Plug Time: Over at the best online gold & silver bullion dealer's website, I discussed the significance of this Jobs Report and one other upcoming challenge that gold & silver are currently facing right now, and my Midweek Market Report also includes video analysis, which was recorded on Wednesday morning:

Thank you for your consideration!

Biden has yet to comment on this report (he's probably taking his morning nap).

Developing...

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