February 02, 2012
– Comments (7) |
RELATED TICKERS: SPY
Initial Jobless Claims 367K vs 371K Est; Continuing Claims 3437K vs 3535K Est
Folks this trend seems to have legs..jobless claims now are well off 400k
the number of jobs is less meaningful vs the type of jobs.
creating more service sector jobs only exacerbates the fundamental flaw of our economy which needs ponzi printing to sustain.
imo, this is madly bullish for gold.
^^^ lol. First rule of Austrian economics - no matter what happens, be bullish on gold.Service sector jobs "don't count." Public sector jobs "don't count." Fiat currency "doesn't count." All the growth that occurred in the 50s, 60s, and 70s? Doesn't count. It can all be explained away with complicated formulae that mere Keynesians could never hope to understand.Sure.
right now, we are creating roughly a 9:1 ratio of service sector to manufacturing jobs.you'd expect your trade deficits to rise over time as this ratio continues. it has.
you would therefore expect your debt to go up also, it has.
So you would expect this trend to continue:
Im not calling for the sky to fall...just that its bullish for gold. and it is. no denying it.
The ratio of service to manufacturing jobs only impacts the trade deficit insofar as manufacturing productivity is impacted. As Morgan has pointed out on the front page numerous times, manufacturing productivity continues to rise. We are making a ton of stuff in America, we are just doing it with fewer human beings on the job.How much of the trade deficit comes from commodities like oil?The service-to-manufacturing mumbo jumbo is just hand waving. Service jobs still "count" as real jobs, just like public sector jobs do. Economic activity is economic activity.
As long as you believe debt doesn't matter, you're right.
Right now, our economy is growing ~2%/yr
Our debt is growing ~10%/yr
Would you invest in a company with those stats?