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stock_creeper
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  • Another Job Report Snoozer [Edit or Delete]1 comment
    Jul 8, 2011 10:14 AM
    Has whining about the economy become the new national pastime? Seems like it.

    With yet another 'bad' jobs report I'm shaking my head at how supposedly intelligent analysts and bloggers continue to equate job creation with economic recovery when, inf act , there has been a negative or at least a non correlation between profits & earnings and job creation. Mish Shedlock is perhaps the biggest job report crybaby of them all probably stayed up all night in anticipation of the report so he could blog about it first. I, on the other hand, slept right though it. 
     
    Economic strength is measured b these key metrics:
     
    1. productivity
    2. consumption
    3. profits & earnings
    4. exports
     
    None of these things has been negativity impacted by double digit unemployment. That's why the economy isn't weak by any stretch of the imagination and why stocks will continue ignore high unemployment.
     
    A shrinking labor force isn't a bad thing..it means more time on facebook and twitter. More time renting movies from netflix. People that engage in the aforementioned activities contribute almost, if not more, to the economy than someone working full time at some redundant overpaid job. 
     
    Job loss is still good for stocks because it means fatter profits, higher worker productivity, low rates 4 ever. So stop complaining about double dip recession and problems and buy the dips. It's still recovery even if you can't see it.
     
    Did you hear about bernanke's failed CNBC predictions? me neither.
     
    No one cares about some old, washed up CNBC predictions. Bernanke is only mortal..he can't predict the future, but he can respond to events, and so far his response to the 2008 crisis has been exemplary. Dow & S&P doubled from March 2009 lows and PEe ratio still just 14. It's true that the bailouts didn't fix the underlying problems of risk taking or that few lessons we learned. Who cares. stocks are going up. party on.
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    Your on drugs. Republicans are politicking on creating jobs, and can fiddle around while rome burns as good as anyone. Investors like you and me already know jobs don't matter, we can see the surplus of labor growing as economies of scale rule. Even smaller business's can compete far and wide with the net. We've seen companies stock go up every time they've announced layoffs in America, we know what's up.
    14 Jul 2011, 06:41 PM Reply Like
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