“Ranting” Andy Hoffman of Miles Franklin joined us again for his weekly rant. He was particularly peeved today because his internet service went down, compliments of a wonderful oligarchic cable company that wants to control his existence. Then we got down to the end of the Great Indian Gold Strike of 2012. The gold merchants of India, which is by the way the largest gold consuming nation on Earth, won their battle against the government’s attempt to impose an excise tax on gold imports. The strike lasted three weeks, during which time gold sellers were heard to proclaim, “No Gold for You!”
The jobs numbers which were released last week, to coincide with the holidays and decreased public attention, were absolutely abismal. There was nothing redeeming about them, and they will lead to an immediate dose of Quantitative Easing 3.0. The numbers are so horrid; it’s getting to the point where even the manipulators at the Bureau of Labor Statistics can’t make them look good. The Labor Force Participation rate is in the cellar–over 88 million people are divorced from the force, an all time high.
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