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There’s left leaning people and there’s right leaning people. Rarely is the time when a lefty or righty can drag someone across the line from their camp into their own camp. Most people are pretty rigid about it. While I find it absolutely brain cramping, statements like “I’m a lifelong Democrat ( or Republican) and will vote may party” unfortunately it is indeed true. Many folks don’t care of the issues or the stance. It’s all about their party.
The things we are living through lately are truly historic in nature. If you sit back a bit and consider the big picture, we’re not living through just one incredibly interesting situation; we’ve got multiple issues taking place.
Can you feel it? Can you feel that nagging sensation that “something” is really wrong? Do you get the feeling that you’re going to wake up one day and find that something major has happened? I know you do, because most people with their eyes open all say the same thing. You can’t put your finger on it, but you know it’s out there. Like some monster lurking in the dark.
So, Friday was “jobs” day. The first Friday of every month brings us the “non farm payroll report”. This piece of data is watched by every market participant, because the labor data is correlated to monetary policy such as interest rates.
The Fed’s have been sitting on their pedestal telling us how wonderful the recovery is and that the labor markets are so hot that they’re worried about overheating. For months now they’ve had a smug attitude about how many jobs there are, and that their monetary policy has indeed saved the world.