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Is today's unemployment report a reason to cheer?

Let’s begin by noticing that this week the price of gold and silver has dropped and the price of Platinum and Palladium stayed the same.  When the drop is real, usually they all drop proportionally. My guess is that there is the usual manipulation to force down the price plus a gain in the strength in the dollar is partially responsible.  That same strength in the dollar brought about a much needed drop in the price of oil.  How long that will last, we can only guess but we know that things are not getting better for the dollar due to our government continued financial deterioration and the Fed QE, AKA as the dollar printing press which is now financing 60% of any new debt.  Once upon a time, we could get domestic and foreign investors to finance 100% but now it is down to 40%.  Let’s face the reality that there is not enough money in the world to finance our current and foreseeable deficit.


Today’s unemployment report of 9.4 was a joke.  The new jobs created if it is truly so are likely paying less, offering fewer benefits and most are not even full time.  Low paying jobs do not allow people to spend in other than food and shelter plus by being in a low income bracket; they don’t contribute new revenue to the Federal government.  In addition, what kind of unemployment report are they offering that people who are unemployed and not collecting unemployment no longer count as unemployed?  The hundreds of thousand that lost unemployment benefits recently vanished from the work force.  It is all about making things sound better than they actually are to fool the people while food prices go up, real estate goes down, and the misery level rises.  They must maintain the people level of confidence up at any cost and hide the continuous decline for as long as they can.


There is huge problem that began this year.  The baby boomers retirement age of 65 became effective on January 1st, 2011 and most will not retire.  Their home property values are down, and so is their 401k or returns on cash savings which pays no interest.  So there is a new working force coming of age which will find itself out of the market, staying home, living with, supported by their parents, and draining their already strained resources

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In summary, every passing day makes things much worse only to those who stay focus on the reality.  As for the rest of America, it is awesome that we are on the way to recovery because a government and media that never lie to us say so.

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