The Fed has broadcasted that they want to taper, but did not indicate it had to start this year, which is highly unlikely. And when it does begin, it will not feature slowly rising interest rates. Instead, there will be a sudden mad dash for the exit by bond holders, and interest rates will jolt higher. No one wants to be the bag-holder.
"Julius Buckmon, who admitted fabricating data in 2010 under pressure from a supervisor." Added to: "In the New York Post Tuesday, columnist John Crudele wrote that a sharp drop in the jobless rate in September 2012, from 8.1% to 7.8%, may have been caused by one or more Census employees fabricating responses to the bureau's monthly survey." It does NOT say that the data was fabricated "starting in 2010 through the 2012 elections". It only says there was a sharp drop in the jobless rate for the month of September 2012.
a. single people do not qualify for welfare or other benefits, b. your girlfriend can sue you for child support, c. many working people today qualify for food stamps because their wages are so low. The public is subsidizing Walmart's low wage employment practices. Same thing with the shop that sells your cheeseburger. First people get criticized for being unemployed. Then they get criticized for taking the available low-wage jobs and needing assistance. Their thanks is to be called "lazy and stupid".
Why is everyone so excited over those employment numbers? Hasn't anyone heard of seasonal employment? Has everyone forgotten about Thanksgiving and Christmas? Those temps will all be looking for work again in January.
What happened in May with interest rates was not any indication that the market wants higher rates. The situation was that lots of people were invested in treasuries, and when the Fed started making noises about tapering, they all panicked and there was a stampede for the exits. No one wanted to be the bag holder under these conditions. But after all the panic selling is done and the speculators have left that market, the market will settle down and interest rates will return to a level indicated by the economy, not by Fed distortion.
It's a great idea, but I think they barely have enough to pay the dividend as it is. I just hope they've saved enough to keep the dividend at 5 cents next quarter.