Saturday, May 4, 2013

Sand in the gears!

1- With all the rejoicing by weeks end in the financial sector, markets up to record highs, % unemployment dropped to 7.5%. In the real world number of unemployed or underemployed increased. The % of US working force employed stayed at 63.3%, an all time low equal to Jimmy's achievement in '79. The Feds are still pumping out $s 24/7. What happens when this printing stops, doesn't take much guessing. Here is a kicker, the number of new manufacturing jobs created last month remained unchanged ~11,000/mo, thats bad news. That news is tempered somewhat by, the # of government jobs cut dropped by 11,000. Recovery really begins when the number of new manufacturing jobs spike month after month >300K. 2-New Benghazi Attack Hearing begin mid-week, and those testifing will hit nerve centers all the way to the WH to such a point, pp will declare further inquiry halted by executive order like the botched "Fast and Furious" program.

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