Thats well below half of the rate of inflation! Interventionist economic policies are the reason for the depression from which we are not recovering.Hold onto your hats. Grab your wallet. All over the world, central planners are getting together. They're watching the whole developed world tilt towards Tokyo. And they're determined to "do something" to stop it.
The Dow fell again yesterday, down 17 points. Not a big deal. But hardly a day goes by without a loss. And look at the yield on a 10-year T-note. Barely above 1.5%.
It's not a recovery on paper, only in the lamestream state propaganda media.The world's advanced economies are almost all in a dreadful funk. And some people say the fixers caused the problem themselves.
Last Friday, for example, analysts turned on their Bloomberg terminals to find out how many jobs had been added last month. Remember, it takes about 100,000 new jobs in order to keep the unemployment level about even. So what number came up on the terminals? Twenty-six thousand!
But wait. That wasn't the number of new jobs created. That was the number of old jobs lost. Net. For men, there were actually 26,000 fewer jobs at the end of the month than there were at the beginning.
What kind of a recovery is this?
We've asked that question — rhetorically — many times. We know the answer. It's not a recovery at all. Instead, it's the deadest dead cat bounce in US economic history. Never before has a 'recovery' been so weak. Felix Salmon:
This is about as bad as the jobs report could possibly be: just 69,000 jobs created, split between 95,000 new jobs for women and 26,000 fewer jobs for men.
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Interventionism, will we ever learn that it rarely effects markets in any positive manner?
Original Page: http://feedproxy.google.com/~r/dailyreckoning/~3/8m0DM1DmXkw/
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