Gold & Silver Spiked Higher After Huge August Jobs Report Miss
If you believe the jobs numbers, they're ugly. Surely the Fed's Apologists, Enablers, Shills, Sympathizers, and Worse are all giddy that "the Fed can't taper" because of this report...
(by Half Dollar) The latest Employment Situation Report, commonly called the Jobs Report, has just been released for August, 2021.
On Wednesday, the ADP Employment Report was released, and that report was generally considered a spectacular miss by your typical "analysts" and "experts", and it is generally regarded as notable that the ADP numbers have come in weak for a couple of months now.
Additionally, some people have been vocal about the divergence between the ADP reports and the Bureau of Lying Sadists Labor Statistics reports, while others have said that over time, there's not really a whole lot of difference between the ADP numbers and the BLS numbers, as if the numbers were legitimate.
They're not.
Especially the BLS numbers.
Nonetheless, people are pre-scapegoating the August BLS report, noting that any weakness would be a sign the Fed will not taper sooner than later.
Friendly Reminder: The Fed can cut rates to zero any time it likes, such as the last time it cut rates during a Sunday night "emergency" meeting/announcement in March of 2020, but the Fed can only raise rates after coddling and handholding market participants for years and years, which really means the Fed will continue enriching themselves and their bestest buddies in Washington and on Wall Street for as long as possible, which is pretty much indefinite considering the sheer number of Brainwashed Masses, Walmart Zombies and Sheeple in this "country", solidified by the fact that nobody cares, much less is anybody willing to sacrifice one single penny in order to Starve the Beast and put an end to this monetary madness.
I read a Tweet somewhere recently that talks about "selfishness is a virtue", and if we had free markets, I would agree, but we don't have free markets, for at the very minimum we have heavily manipulated markets, and therefore, by extension, the selfishness of Gamblers in the Rigged Casino is definitely not a virtue.
Regardless, here's a breakdown of the official job numbers for August:
Total employment rose by 235,000Unemployment rate declined by 0.2% to 5.2%Labor force participation rate was unchanged at 61.7%Average hourly earnings rose by: $0.17From the report (bold added for emphasis and commentary):
In August, notable job gains occurred in professional and business services, transportation andwarehousing, private education, manufacturing, and other services. Employment in retailtrade declined over the month.
At face value, a decline in employment in retail is a sign of a tapped out US Consumer.
Remember a while back when I said Joe Deplorable really needs to figure out how to generate some extra income very soon because his wallet isn't looking so hot these days and everybody only ever wants moar?
Um, yeah.
Kinda like that.
They spiked gold & silver when the report hit the tape:
Developing...
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