Gold & Silver SPIKE On Report Only 20,000 Jobs Were Created In February – Trump Says “Things are looking good!”

There’s really nothing good about the report. That is, nothing good to anybody who still thinks he or she’s a middle-class American and trying to survive…

The BLS just released its Employment Situation Report for February, 2019.

Prior to the release of the report, the range of estimates was pretty wide:

Though nowhere near the actual number reported.

Here are the actual numbers as reported by the BLS:

Number of jobs created in the month of February, 2019: 20,000

Unemployment rate fell to: 3.8%

Average hourly earnings (year over year) rise: 3.4%

Labor force participation rate is unchanged at: 63.2%

Here’s a look at gold & silver’s spike at the release of the report:

That spike was on volume too.

Such a weak jobs report is good for gold & silver.

Why?

It pretty much guarantees that the Fed will not hike interest rates when they meet for their two-day FOMC meeting on the 19th and 20th of this month.

Why does it pretty much guarantee that?

To understand why, let’s look at the MSM propaganda. Here’s some of Bloomberg’s take on the report (bold added for emphasis):

U.S. hiring was the weakest in more than a year while wage gains were the fastest of the expansion and the unemployment rate fell, a possible sign that America’s jobs engine is starting to slow down.

Nonfarm payrolls increased by 20,000 after an upwardly revised 311,000 gain the prior month, a Labor Department report showed Friday. The median estimate in a Bloomberg survey called for an increase of 180,000. Average hourly earnings rose a better-than- projected 3.4 percent from a year earlier, while the jobless rate declined to 3.8 percent, near a five-decade low.

Even with faster pay raises, the big miss on payrolls may fuel concern about the mood among U.S. consumers following a December retail-sales slump that was the worst in nine years. Economists project the expansion will slow this year, amid weaker global growth and the fading impact of fiscal stimulus such as President Donald Trump’s tax cuts.

At the same time, policy makers and economists might wait for several months of weak hiring before concluding there’s cause for concern in the labor market. Some of the weakness could be chalked up to winter weather, as construction jobs fell by 31,000, though many other sectors were soft including education and health services as well as leisure and hospitality.
Even with the pickup in wages, Federal Reserve policy makers have indicated this year they won’t raise interest rates again until seeing inflation advance. Fed Chairman Jerome Powell said in congressional testimony last week that “the job market remains strong.’’ 

 February Miss

This marked the first February since 2011 that the initial reading on payrolls missed the median estimate of economists. The 20,000 gain was the lowest since September 2017, a month marked by the impact of several major hurricanes.

See how some of that works?

The Fed now has the “cover” it needs to justify its actions in March.

Take special note of the the 4th paragraph too.

Here’s what I highlighted in bold only:

Policy Makers might wait several months before concluding cause for concern. So weakness chalked up to winter weather.

My interpretation/translation:

We will use this February jobs report to stall for several months, if needed, as we attempt to correctly time max pain brought to America’s economy and markets, and we’ll blame things such as “the weather” as part of our propaganda to make it look like government numbers can be trusted, the mainstream media tells the truth, and the Fed is legitimate.

Here’s a visual look at the jobs report, from ZH:

 

 

 

Propagandists will talk about this “scorching hot” wage growth, but what they will fail to mention is that real wages are still deeply negative.

I’m not sure how President Trump will spin this.

He probably won’t even mention it, but If he does, he will only talk about the good parts of the report and fire off some sort of Tweet such as “Workers are getting big pay raises because of me”.

OK.

Nevermind.

He just fired off a Tweet:

Making his point pretty much exactly how I just wrote that he would.

Thirty minutes in, and we see the knee-jerk looks to be the actual direction of the move today:

Let’s see if gold can reclaim $1300 today.

I think gold can.

Side Note about inflation –

Yesterday I took my daughter to get her braces adjusted.

While holding back the vomit in my mouth induced by watching the propagandist news spewing from the waiting room television, I semi-listened to a report about the price for bus fares going up.

Specifically, a monthly unlimited-ride bus pass will be increasing from $50 to $60.

But there’s no inflation.

No, that wasn’t a question.

It was a statement about inflation.

But don’t take ‘Ol Half Dollar’s word for it, see for yourself:

Translation: Get ready for painful price inflation on everything that people actually buy.

Max pain is indeed coming, and it will literally wipe-out 99.999% of everybody.

That is the Deep State/globalist’s evil plan to implode the US empire.

We are getting very, very close to the point of implosion.

This jobs report is another step in that direction.

It was barely positive, but it is only the start.

To get the Red Hats to turn on Trump.

Massive job losses are coming.

America is expendable.

We’ll be expended.

Also the dollar.

Hyperbole?

Nope.

Stack accordingly…

– Half Dollar


 

About the Author

U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.

Paul’s free book Gold & Silver 2.0: Tales from the Crypto can be found in the usual places like Amazon, Apple iBooks & Google Play, or online at PaulEberhart.com. Paul’s Twitter is @Paul_Eberhart.

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