Hi Cockerel:
From what I have seen so far we have the usual ‘seasonal ‘adjustment’ games being played. This one was unusually generous. BLS claimed big low wage jobs increase for those over 55 (378000) while those for males under 54 jobs tumbling by 119000. Also, bartenders, waiters, health care and education were the big winners. Meanwhile consumer credit made the biggest jump in history, mostly Gov. funded car loans and student loans … yada, yada. Labour participation costs not included for small business includes soc. Sec., disability, other insurance. Big contributor to latest GDP was 10% increase in healthcare costs.
Huge short sales in gold futures should mark a quick turn around for gold/silver to head up short term next few weeks as they buy back their positions … but caution quick take down again after that. Almost 300 ounces of gold claimed for every ounce available now in futures markets. Gold ‘inventory’ switched form Nova Scotia to JPM in the ‘warehouse’.
It goes on and on. Take care
