02 July 2015

SP 500 and NDX Futures Daily Charts - Non Farm Non Sequitur - Called By Name


There was intraday commentary about the Non-Farm Payrolls Report here.

Today's economic news was marked by stagnant wages, the lowest labor participation rate in 37 years, increased new unemployment claims and higher continuing unemployment, and a highly distorted unemployment percentage which is the product of callous ignorance and willful misdirection.

For the Fed Vice-Chair to have celebrated the achievement of 'US full employment' from their misguided monetary policy at long last earlier this week is aloof to the point of the tragic. 

And it is a fine example of what is wrong with a privileged elite that has come to listen, to see, and to serve only themselves.   And they are doing all of it for themselves exceptionally well.

We are called to a different task, to be something different, someone new. 

Stocks were edgy today ahead of the long holiday weekend and the Greek referendum.

Have a pleasant weekend.