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Flawed seasonal adjustments, inflation shock, reduced unemployment, jobs miss....the economic data released this morning was very weird.
The service job market was strong, manufacturing weak due to supply chain issues, the jobs number missed big, seasonal adjustments were flawed...on and on.
This reinforces our view that the economic data being released from the Biden* administration is not reliable and useless.
What investors need to know is that the system is broken with unlimited printing of money. New lockdowns are coming. Financial markets are at unheard of valuations. Biden wants to destroy the American economy.
It's not different this time...the bond vigilantes will eventually be back.
Either America is saved by patriots, or our economy sinks.
Buy things you can touch, not financial assets propped up by a fiat economy the globalists want to destroy.
Average Hourly Earnings (MoM) (Nov) printed at 0.3% vs 0.4% consensus estimate.
Average Hourly Earnings (YoY) (Nov) printed at 4.8% vs 5.0% estimate.
Average Weekly Hours (Nov) printed at 34.8 vs 34.7.
Labor Force Participation Rate (Nov) printed at 61.8% vs 61.6% estimate.
Non-farm Payrolls (Nov) printed at 210k vs 550k estimate.
U6 Underemployment Rate (Nov) printed at 7.8% vs 8.4% estimate.
Unemployment Rate (Nov) printed at 4.2% vs 4.5% estimate.
Markit PMI Composite (Nov) printed at 57.2 vs 56.5 estimate.
Markit Services PMI (Nov) printed at 58 vs 57 estimate.
Factory Orders (MoM) (Oct) printed at 1% vs 0.5% estimate.
ISM Services Employment Index (Nov) printed at 56.5 vs 52.2 estimate.
ISM Services New Orders Index (Nov) printed at 69.7 vs 64 estimate.
ISM Services PMI (Nov) printed 69.1 vs 65 estimate.
ISM Services Prices Paid (Nov) printed at 82.3 vs 80.9 estimate.
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Weird al yankovich has a lot of material for at least 3 albums now, can't wait to hear his fauci impersonation