Tomorrow"s release of jobs numbers and unemployment rate
Tomorrow jobs numbers should be extremely interesting. So much riding on these numbers. If unemployment rate goes up, then Obama's headwinds for reelection may reach hurricane strength. So whatever number the BLS comes up with, it certainly should be carefully considered. Will the overall labor force shrink AGAIN? How many fictitious jobs will be created via seasonal adjustments and the "birth/death" assumption regarding new business formations? Is the BLS nothing more than a political hack of the Administration?
More importantly, a favorable jobs number should give a boost to the U.S. dollar which will negatively impact gold and silver and vice versa if the job numbers turn out to be weak. Most economists expect no change in the unemployment rate.
Hang onto your hats. Tomorrow could be a very interesting trading day.
Jack Welch is correct! Job numbers are manipulated. But even if Welch is not (totally) correct, what does this tell us about today's environment regarding the "trust" of government reporting? It tells us that trust in government is rapidly evaporating across the board due to Fed Reserve manipulation of our currency and interest rates, politicians' empty promises to get elected, and the false hope that "fiscal cliffs" are meaningless. When the trust is gone, sea changes are in order. But gold and silver will continue to anchor those with a compass and who can map the direction of this economy....not that life will be easy for anyone.