It's the Obamalaise Economy! Perpetual malaise! Even while the Propaganda Press tells us it's all great!
More news you WON'T hear in the Propaganda Press!
This morning, the US Bureau of Labor Statistics told us that job growth
last month was the most in almost 3 years. Not so fast! Look at the jobs
created! Low-wage, temporary, retail! Ie., SUBSISTENCE jobs, not
breadwinner jobs!
We should always remember that payrolls are one of the MOST lagging of
indicators. Often payrolls rise at the start of a recession. Payrolls
typically only crash months after a recession begins.
"But, but, but payrolls data was awesome!! /He was saying that in
satire./ US Factory Orders tumbled 0.7% in October (missing 0.0%
expectations) for the 3rd month in a row (for the first time since June
2012). Rather notably, the only other time we had 3 straight months of
factory orders declines was in the recession..." Tyler Durden @ Zero
Hedge.
