Friday, December 6, 2019

Holy Mackerel -- Wow, I Would Love To See Steve Lieman's Face When He Reports This; Payrolls Surge; Well Ahead Of Projections; Unemployment Rate Actually Ticks Down -- December 6, 2019

From The WSJ:

Holy mackerel: this is really, really incredible. I assume the mainstream media is still giving Obama the credit for the economy. 

Jobs, link here, November jobs:
  • nonfarm payrolls
    • prior: 128,000
    • consensus forecast: 180,000
    • actual: 266,000
  • private payrolls:
    • prior: 131,000
    • consensus forecast: 168,000
    • actual: 254,000
  • unemployment rate:
    • prior: 3.6%
    • consensus forecast: 3.6%
    • actual:3.5%
  • manufacturing payrolls:
    • prior: -36,000
    • consensus forecast: 15,000
    • actual: 54,000
Recession is just around the corner

Futures: unchanged, down if anything.


CNN: "Stocks pop on good jobs report." In fact, the Dow opening was a bit lower than the Dow futures just before and after the jobs report came out. And it was not a "good" report. It was a spectacular report.

Headwinds: every story, it seems, says the job market was incredible despite the headwinds. Exactly what headwinds? The only headwinds I know:
  • TDS
  • consistent and never-ending negativity from mainstream business media 
Example? This article from "The Rachel Maddow Show" -- MSNBC: the writer shows that job growth slowed under Trump compared to job growth under Obama. This is so predictable. I googled: MSNBC job report today. Screenshot:

  • easy money;
  • everyone is employed -- employed folks pay taxes and buy more stuff;
  • US House not passing any more regulations;
  • US is energy independent -- this is huge and is not being reported;
  • gasoline is below $2.00 / gallon here in north Texas; people have more money to buy other stuff;
What's the best way to put another nail in a solution looking for a  problem? Gasoline below $2.00 / gallon. EVs were a solution to a problem that did not exist.

This morning:


  1. MSM, in spite of everything we, the media, tell you, you still choose to believe what you see? Go figure

    1. I normally don't watch CNBC business news, but today I was really curious how they would report this. Moments ago, some talking head said this was a continuation of Obama's programs and had nothing to do with Trump. Wow, Trump Derangement Syndrome.