"There are accumulating signs that the economy is building momentum and that, this time, a pick-up in speed will be sustained because the underlying fundamentals have improved," Mester told a bankers' group in Columbus, Ohio.
05 February 2015
Gold Daily and Silver Weekly Charts - Non-Farm Payrolls Tomorrow - The Fed's Serial Policy Errors
Is this another 'green shoots' sighting? Or a familiar phase in bubblenomics? Victory, huzzah! Because we say so.
I think maybe Fed President Mester needs to get out more often, and to more varied different venues than bankers' luncheons. Youngstown would be a good place to stop for a Jib Jab hot dog. Maybe not as good as the PO Lunch in Newcastle Pa., but certainly on a par with Yocco's in Allentown (or Easton if you want a beer with that dog). And don't forget about Corporal Klinger's favorite, Tony Packos in Toledo.
The working poor in her areas may not be able to afford McDonalds as much, but they still like their hot dogs when they can afford them. Maybe while she is there, she can talk to some people about their wonderful lives in The Recovery™, compliments of the Fed's propeller heads and their serial policy errors.
And while she is there, she can ask about what is going on in Europe, and factor that into her equations. And about what the Gallup CEO recently said about the booshwa nature of the unemployment numbers. Does she wish to make public policy based on that? Maybe, until the real economy bleeds out.
God save us from the propeller heads, and the generals who are far from the field, and fighting the last war. The carnage they inflicted in the first World War was epic. And so was the carnage of their political peers in the terms of the peace.
I will try not to take what she says too seriously because the Fed has an itch to raise rates at least once, so they have room to cut them again when their latest bubble bursts.
Tomorrow is Non-Farm Payrolls. I suppose they will create a good report to make us feel better. They might even say something nice for a change about wages and labor participation.
I have included a delivery report on gold below, which has sparked some real interest for the first time this month.
I am not a 'gold bug' whatever the heck that means. But I do think that gold and silver are important components of a solid portfolio, particularly in these times of currency wars. I had a penchant for collecting coins from a young age, but never became interested in gold whatsoever until after 2000, when I became intensely interested in currencies.
Anyone who studies currencies without appreciating the history and qualities of gold as a natural currency is ill-educated. And people who 'hate' gold are probably the real goldbugs if I understand what they mean by it as a pejorative term, because they say the buggiest, most obsessively absurd things imaginable about it.
But to heck with them. Their folly will be sifted by time. Despite the antics which we may be in for tomorrow.
Have pleasant evening.
Posted by Jesse at 4:53 PM