US Jobs Report Disaster – Everything is Fine Though, Carry On

In Economics,General on January 10, 2014 by Robert Burke

Friday morning, at 7:30 AM, the December Non-Farm Payroll report was released showing the epic and total failure of our central planners to make an impact on the lives of average Americans that doesn’t involve simply giving them money.  To set up how the month of Christmas really was in the year of the hand knit book covers I present to you the “Analyst Expectations” via ZeroHedge Payroll Preview: Who Expects What:

  • Citigroup 165K
  • Barclays 175K
  • UBS 185K
  • HSBC 191K
  • Goldman Sachs 200K
  • JP Morgan 215K
  • Bank of America 220K
  • Deutsche Bank 250K

Note that the most bearish sentiment by those in the know was 165K, which happened to miss the real number of 77K (surely to be revised down next month as it has been 90% of the months since the crash of 08) missing by 53%, and it should begin to be clear that things aren’t so rosy.

In a sign of just how gullible the press thinks you are Reuters released the “weather” excuse:
“WASHINGTON (Reuters) – U.S. employers hired the fewest workers in almost three years in December, but the setback was likely to be temporary amid signs that cold weather conditions might have had an impact.”

Yes, because we have never in the history of America had cold weather in December.

We should note that as the Federal Reserve confirmed this week that they will indeed taper by $10 Billion (because ostensibly unemployment dropped from 7% to 6.7% in the report-game on Wayne) you should know that roughly 400K MORE Americans like me simply dropped out of the labor force putting Labor Force Participation rates back at 1978 levels and improving the historical context of Carter as the worst job creator in history.

As we head into the weekend it goes without saying that in times of economic distress the most brutal of dictators tend to come forward and seize power.  And if you still think I am lying about the air patrols you should note, according to Time Magazine via ZeroHedge (and not some tinfoil hat wearer in Hudson), “Hilter’s manifesto Mein Kampf is #3 and #4 on iTunes Political books list”.

They highlight a very poignant quote from the book, “How fortunate for governments that the people they administer don’t think. – Adolf Hitler”

Nothing to see here, move along.  Warm weather and a jobs recovery are just around the corner.

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