Ep. 357 – Jobs Down, Stocks Up

The Kapital News
The Kapital News
Ep. 357 - Jobs Down, Stocks Up

Despite another grim reading with respect to initial jobless claims filings, Wall Street continued its rally. Perhaps, bad news is good news or maybe even great news for the traders on the floor? For a little perspective, at the end of the Great Financial Crisis (GFC), in June of 2009, there were 131 million total US jobs. Over the course of the last 10+ years and ending on 20 February, when markets topped, there were 152.5 million jobs. This is an increase of 21.7 million jobs that occurred during the longest expansion in recorded US history – it is also the weakest recovery in terms of economic growth. However, over the last four weeks, a total of 21.8 million jobs have been lost. So, the jobs losses over the last four weeks have completely erased all of the job gains that took place over the last decade! This is extraordinary and a true tragedy as so many are personally affected. And when you couple this with all of the poor data points that pertain to lack of savings, medical needs/bills, cost of living, credit cards, student loans, etc then it is easy to understand the hardships that many individuals and families are currently experiencing – and are likely to experience for the foreseeable future. Nevertheless, the government continues to promise more money that it does not have and the Federal Reserve continues to bailout Wall Street, corporate America, and the US Treasury. Oh, and does all of this with virtually zero oversight. Welcome to the new America. Stay diversified, stay vigilant, and stay with The Kapital News. #Economy #Jobs #Recession #USA #Depression #Oil #Gold #Debt #Bailouts #Liberty

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