November was a letdown, which means ignore any weird “price discovery” in gold & silver’s reaction and get ready for more stimulus talk…
(by Half Dollar) The Employment Situation Report, commonly called the Jobs Report, was just released for the month of November.
November’s jobs report is coming off of a highly propagandized, super-duper awesome October jobs report, not that it mattered much or that people noticed one month ago because of the whole, well, you know, the
Circus Side Show 2020 Election.
If you believe the numbers, according to the Bureau of Labor Statistics, in the month of November, 2020:
- Total employment rose by: 245,000
- Unemployment rate fell to: 6.7%
- Average hourly earnings rose by $0.09
- Labor force participation rate decreased to: 61.5%
In my opinion, this report is highly subjective, suspect, and for the most part overtly meaningless since the election is still in “dispute”, for whatever that means, and since Americans have been subjected to rolling lockdowns and shutdowns which seem to only be worsening by the day in certain states.
Here’s some typical mainstream coverage, via Bloomberg (bold added for emphasis and commentary):
The U.S. labor-market rebound markedly slowed in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery.
The surge in Covid cases is hitting workers and curbing the recovery, or is the government’s forceful oppression of people and property, including small businesses, doing the hitting and the curbing?
Nonfarm payrolls increased by 245,000 from the prior month, as the unemployment rate dipped 0.2 percentage point to 6.7%, according to a Labor Department report Friday. The labor-force participation rate and employment-population ratio both declined, in negative signs for the economy.
Oh, good grief.
We’ve got “negative signs”.
I suppose all roads lead to stimulus?
Of course, when We the People let our public “servants” and “elected” “leaders” Unconstitutionally shove unbacked, debt-based fiat currency dependent on exponential, unsustainable growth, the Federal Reserve Note, commonly called the “US dollar”, down our throats, there is really only one road we could ever even be on.
Gold & silver had been choppy throughout the night, knee-jerked higher, and then dropped at the release of the report:
Here’s the question: If the jobs report was a letdown, and if the economy is slowing, doesn’t that mean more stimulus, sooner than later?
Follow-up question: What does more stimulus mean for gold & silver, regardless of whatever today’s “price discovery” indicates?