B-Man Posted May 7, 2021 Posted May 7, 2021 "I'm not going to shutdown the country. I'm going to shutdown the virus." . Looks like it's time to ramp up the Liz Cheney news cycle some more. 😂 1
B-Man Posted May 7, 2021 Posted May 7, 2021 Thanks Joe........"we're on the right track" THE BIDEN ECONOMY: Who’s Hiring And Who’s Firing In April: A Golden Age For Waiters And Card Dealers. “The reality is that the number could have been even worse: had it not been for some 187,000 workers added in food service and drinking places (i.e. waiters and bartenders) as well as 72,700 gambling, amusements and recreation workers (i.e., card dealers), the April print would have been virtually unchanged from last month.” https://www.zerohedge.com/economics/whos-hiring-and-whos-firing-april-golden-age-waiters-and-card-dealers
Chef Jim Posted May 7, 2021 Posted May 7, 2021 3 hours ago, BillStime said: Spot on... Huh. I see an awful lot of middle class Americans shopping at places like Whole Foods, driving new cars and buying all the latest tech gadgets. Left out in the cold.
ALF Posted May 7, 2021 Posted May 7, 2021 38 minutes ago, Chef Jim said: Huh. I see an awful lot of middle class Americans shopping at places like Whole Foods, driving new cars and buying all the latest tech gadgets. Left out in the cold. So you are saying Biden is doing a good job ?
Chef Jim Posted May 7, 2021 Posted May 7, 2021 9 minutes ago, ALF said: So you are saying Biden is doing a good job ? Ha! No. I’m saying the American middle class is doing just fine. These observations predate the Biden Administration by a couple decades.
daz28 Posted May 7, 2021 Posted May 7, 2021 Would anyone care to guess why this jobs report didn't have the same effect on Wall Street as it did on TBD?
Chef Jim Posted May 7, 2021 Posted May 7, 2021 3 minutes ago, daz28 said: Would anyone care to guess why this jobs report didn't have the same effect on Wall Street as it did on TBD? Wall Street is thinking that because of the poor jobs report the Feds will keep the easy money flowing. That’s not a guess. 1
All_Pro_Bills Posted May 7, 2021 Posted May 7, 2021 (edited) 9 minutes ago, daz28 said: Would anyone care to guess why this jobs report didn't have the same effect on Wall Street as it did on TBD? Because "good news" on the economy can cause policy changes which result in rising interest rates and restrict/eliminate liquidity (read: money and credit) entering the financial markets which will lead to stock and bond market values to fall and end the party. So a low number jobs number is good news for markets. It means party on. My guess at this point is both the economy and markets are headed for 70's style inflation, which has already started, but we're in a lot worse shape to handle it now. Edited May 7, 2021 by All_Pro_Bills bad spelling!
Chef Jim Posted May 7, 2021 Posted May 7, 2021 1 minute ago, All_Pro_Bills said: Because "good news" on the economy can cause policy changes which result in rising interest rates and restrict/eliminate liquidity (read: money and credit) entering the financial markets which will lead to stock and bond market values to fall and end the party. So a low number jobs number is good news for markets. It means party on. My guess at this point is both the economy and markets are headed for 70's style inflation, which has already started, but we'll in a lot worse shape to handle it now. As I mentioned above and ibe day in the market does not a Bear nor Bull make
daz28 Posted May 7, 2021 Posted May 7, 2021 1 minute ago, Chef Jim said: Wall Street is thinking that because of the poor jobs report the Feds will keep the easy money flowing. That’s not a guess. Yeah, because historically that's true?? Good jobs report, stocks go up. Poor jobs report, stocks go up. Makes sense.
Chef Jim Posted May 7, 2021 Posted May 7, 2021 Just now, daz28 said: Yeah, because historically that's true?? Good jobs report, stocks go up. Poor jobs report, stocks go up. Makes sense. The market is strangely fickle and moves for many reasons. What’s is your hypothesis as to why the market reacted the way it did today?
daz28 Posted May 7, 2021 Posted May 7, 2021 3 minutes ago, Chef Jim said: The market is strangely fickle and moves for many reasons. What’s is your hypothesis as to why the market reacted the way it did today? I think the unemployment numbers(rate) are good. If there are still jobs to be filled, that's even better.
daz28 Posted May 7, 2021 Posted May 7, 2021 21 minutes ago, All_Pro_Bills said: Because "good news" on the economy can cause policy changes which result in rising interest rates and restrict/eliminate liquidity (read: money and credit) entering the financial markets which will lead to stock and bond market values to fall and end the party. So a low number jobs number is good news for markets. It means party on. My guess at this point is both the economy and markets are headed for 70's style inflation, which has already started, but we're in a lot worse shape to handle it now. I really don't think anyone was anticipating a rate hike anytime soon. It's been effectively zero for like 15 months.
All_Pro_Bills Posted May 7, 2021 Posted May 7, 2021 4 minutes ago, daz28 said: I really don't think anyone was anticipating a rate hike anytime soon. It's been effectively zero for like 15 months. Absolutely. The Fed isn't going to raise rates because they know it will tank the markets and the economy along with it. They've been trying to create inflation for a while and are getting their wish. They claim it is transitory and that will be the excuse to not act. When they act it will be too late. And as most trading is program trading algorithms that "read" headlines and then trade accordingly these news events can trigger big swings for good or not good reasons. My main thesis is buy energy and precious metals shares for starters.
Chef Jim Posted May 7, 2021 Posted May 7, 2021 17 minutes ago, daz28 said: I think the unemployment numbers(rate) are good. If there are still jobs to be filled, that's even better. If there are still jobs to be filled? If?? Talk to people in retail and hospitality and see if there are jobs to be filled. Your point did play a role in the market. The market is a leading indicator and Wall Street is still betting on an economic recovery.
daz28 Posted May 7, 2021 Posted May 7, 2021 4 minutes ago, Chef Jim said: If there are still jobs to be filled? If?? Talk to people in retail and hospitality and see if there are jobs to be filled. Your point did play a role in the market. The market is a leading indicator and Wall Street is still betting on an economic recovery. I don't have proof there's open jobs, but I know it's true. That's why I think the rate of 6.1% is higher than it really is. This thread was about an economy in peril, when we all know it's people choosing not to work, and collecting UI. Keep in mind Trump was 100% on board with stimulus and unemployment bonuses and extensions. Even if he won, this situation would be no different, so it's really not a 'Biden' issue at all. This thread should be on Fox news as a hit piece.
Doc Brown Posted May 8, 2021 Posted May 8, 2021 Didn't last month's job report blow out expectations? How are these estimates even calculated?
B-Man Posted May 8, 2021 Posted May 8, 2021 31 minutes ago, Doc Brown said: Didn't last month's job report blow out expectations? How are these estimates even calculated? I am afraid not. And it was even lowered. April Jobs Report Falls a Stunning 800,000 Short of Expectations U.S. job growth for the month of April fell far below what experts had predicted, as data reported Friday showed an increase of 266,000 jobs, versus an estimate of 1 million — the largest miss relative to expectations since at least 1998. The U.S. unemployment rate rose slightly from 6.0 percent to 6.1. March’s payroll gains were also revised downward by nearly 150,000 jobs, from an initial print of 916,000 to 770,000.
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