From a suddenly shifting Reuters: "U.S. job growth was less than expected in August and the unemployment rate hit a 4-1/2 year low as Americans gave up the search for work, complicating the Federal Reserve’s decision on whether to scale back its massive monetary stimulus later this month." We are witnessing a tectonic shift in reporting on the economy. As exemplified by this a surprisingly downbeat headline and lead from Reuters. They are obviously afraid that the Fed is going to look at the lowering unemployment rate and end Quantative Easing. (Which the Fed is only permitted to do under the law in order to boost employment.) So why aren’t they popping the champagne corks? Here’s why: "U.S. financial markets took the generally weak report as a sign the Fed was less likely to make an announcement on the future of its bond buying program at its meeting this month… The dollar fell sharply against the yen on the data, while prices for U.S. Treasury debt rallied. U.S. stock index futures rose to session highs." Isn’t it funny how Obama and the Democrats and the news media believe in ‘trickle down’ economics when it comes to Quantitative Easing. Why is that? This is all about politics. Obama and the Democrats and their media minions all know that if the Fed stops shoveling $85 billion dollars a month into the financial markets, they are just going to collapse, and the fiction of a ‘booming economy’ will vanish into thin air. Just in time for the 2014 midterms. So the marching orders have gone out to the news media. They must point out how bad unemployment really is. No matter what the lying figures say.
Posted on: Fri, 06 Sep 2013 15:08:57 +0000
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