07 November 2014
SP 500 and NDX Futures Daily Charts - Non-Farm Payroll Flop - FrankenFed
There was intraday commentary on the Non-Farm Payrolls report.
It was fine, if you want less jobs than expected at lower wages that can sustain anything like a recovery.
Things are not going smoothly for those required to live in the real world.
At some point, the pampered princes will have to notice that all is not well, and that the natives are growing restless.
I think what we saw in the midterm elections is some disenchantment with the happy talk, and blowback on the party in power.
The bloom is going to wear off the elephantine rose fairly quickly if the houses of Congress cannot do something a little more imaginative than trickle down, trickle down.
Do you think the powers that be are completely unaware? Perhaps not.
It was common for people in old Russia to say, 'if only Comrade Stalin knew what was going on.'
George Carlin had a rather salty and somewhat pessimistic explanation for the lack of reform and recovery. Caution language.
Perhaps the one percent and their burgermeisters will have a change of heart-- before the sight of villagers with pitchforks and torches comes cresting over the hill. It might end up looking like the fall of Saigon. Oh the bureaucracy!
Have a pleasant evening.
Posted by Jesse at 4:39 PM