Gold has weakened this morning and the past year on the total misconception that the US economy is improving. The only thing improving are the equity markets because of the trillions of printed dollars trying to find a "returnable" home. The equity markets are way overbought imo. The chickens will eventually come home to roost and we will be faced with stagflation and resulting inflation (which is already much higher than the absurd govt. figures) will cause an increase in the price of gold and in interest rates(which have already begun to rise despite the Fed. buying $85 billion of treauries each month). JMHO.
Ultra, when are you going to realize that Ng is not about building a mine. It's about the gold in the ground which is high grade and located in mine friendly Alaska. And when gold punctures 2000, even you will wish you had a little Ng. Cheers, g
Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time
Submitted by Tyler Durden on 08/02/2013 09:04 -0400
When the payroll report was released last month, the world finally noticed what we had been saying for nearly three years: that the US was slowly being converted to a part-time worker society. This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K. In July we are sad to report that America's conversation to a part-time worker society is not "tapering": according to the Household Survey, of the 266K jobs created (note this number differs from the establishment survey), only 35% of jobs, or 92K, were full time. The rest were... not.
What is worse, however, is when one looks at job creation broken down by "quality" in all of 2013. The chart below does the bottom line some justice:
But what really shows what is going on in America at least in 2013, is the following summary: of the 953K jobs "created" so far in 2013, only 23%, or 222K, were full-time. Part-time jobs? 731K of 953K of total.