Great news on Friday! We added 163,000 new jobs. Break out the champagne, happy days are here again. I hope you’re as skeptical as I am about these numbers. Seems like after you take into account the jobs that were supposedly created by new businesses that were formed, the so called birth-death index, strip out the seasonal adjustments, the numbers tell a somewhat different story. Those two numbers added over 400,000 “new” jobs to the total. So we actually had a near quarter million job loss for the month. And last month’s “gain” was adjusted downward as well. Now that’s something that’s sure to help the election prospects of the current occupant. But everyone, regardless of their educational level and understanding of the ways the books are cooked knows in their heart of hearts that things are getting worse not better. Housing is still in the dumps. Food stamp recipients keep going up and on and on. The stores on your main street or in the mall are still vacant. Who are they trying to kid?
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