Eugene Fama, shared this year’s Nobel Prize for Economics, with Robert Schiller and Lars Hansen. The Nobel Prize is split between the three winners....the total is worth $1.2 million USD.
Eugnen Fama has often been given the title of modern finance. His research into market prices and asset bubbles. Fama called into creditability this weeks strong U.S. labor market data. By making the direct comment “I am not reassured at all!”
His next comment clearly again shine a light on the spin that the current White House administrations “spin cycle” then he stated.
“The jobs recovery has been awful. The only reason the unemployment rate is 7 percent, which is high by historical standards in the U.S. is that people gave up looking for jobs” Fama stated. Fama went on to say, “I just don’t think we have come out of (recession)very well.”
These comments were centered around his comments in a Reuters interview. In front of the award cermony, this Tuesday. For the Nobel Prize in Economics, shared between Fama, Schiller and Hansen. His open thrust of clear and strong economic warning was that the United States and the EU pose a constant threat to the global economy.
Stating strongly, “There may come a point where the financial markets say none of the their debt is credible anymore, and they can’t finance themselves.”
Eugene Fama in 1970 publicly made the case that markets are effcient and that prices reflect all publicly available information to investors. Fama has made it known that he will give his prize money to the University of Chicago, where he has been a professor for many years.
Fama also made comments that he believes companies have slimmed down and become more efficient after the 2008-2009 financial crisis.
Clearly Fama’s comments about the Labor Dept data clearly call into focus that reality that there has been a intentional effort to manipulate labor data as well as unemployment data for several years. As we have documented all one needs to do is just look at the massive increase of families on federal food stamp assistance in order to prove any and all Labor Dept. data if clearly not true.
In the end the clear warning of Eugen Fama’s comments are that the recession did not end well and that their clear warning signs and risks of another, larger global recession for 2014 are in very possible.
Remember “Trade or die”!
Until you book your profit, and put it in the bank...you have no tangible profit. Profits on paper are only fantasy.
If we look back at 1987, 2000 or 2007....each had each White House and the Wall Street media promising a never ending bull market. So the more time passes the more history repeats it’s self.