Important Weekend Update. Fridays fake jobs.
Preview of next Podcast
Below is a preview of the next podcast show notes. But I realized it is too important to only let it live there. So I am sending this out via a normal Substack post over the weekend. We are all being nudged and corralled into a few corners of the slaughter house.
Mother of all doom scrolls
https://twitter.com/elmo/status/1751995117366296904
And in a story I haven’t seen anywhere except via Peter Schiff and Nobody Special on YouTube, the Fridays jobs report was simply a lie.
I checked the math. All they did was revise last yrs monthly numbers so the narrative can read “America has never been better! Vote for me” No one on @business, @CNBC @FoxBusiness, etc cares about you. They are all sell side shills making money. No one is coming to save you! They all report to team green.
You have to zoom out to see the big picture. Why would the Fed say last Wed no cuts until weakness in employment/wages? Then this fake blowout jobs data is released Friday? Everyone to kingdom come on media saying wow. And that the US economy is so strong!
And yet…
https://www.youtube.com/live/0jZcAkf4z5o
The answer is kick the can down the road for elections. While we all suffer in reality, they all campaign in fantasy. This is not going to end well. I believe the shit will hit the fan well before the election.
I take some liberty in quoting a mentor Bill Cara out of context, but on brand.
The independent investors of the West have succumbed to the media onslaught from their governments, Wall Street, central bankers, and WEF globalists. Our people have become sheeple, ready to be sheared of our wealth.
When will we learn that ETFs are their Border Collies? If we stop trading their ETFs, we restrict their ability to manage the herd. If we invest only in quality companies based on asset valuations and revenue, cash flow, and earnings growth, we win. It’s only a matter of time.
We are all being nudged and corralled into a few corners of the slaughter house.
“We are witnessing history today: Meta, has added $205 billion in market cap today making it the biggest single day gain in history. This breaks Apple's previous record of a $191 billion gain on November 10th, 2022. Just a couple of years ago, Meta suffered the single biggest market value loss in a day in stock market history. Meta will hold the record for the biggest daily gain and loss in a single day. Truly incredible.”
https://twitter.com/kobeissiletter/status/1753502827131830752?
How much of the “Money” believes short rates below 2% is normal and that we’re going back there?
How much of that crowd doesn’t understand the FED, regardless of where they peg their rate, has no say on the 2yr-30yr spectrum?
Ultimately, there’s a cost for money or the money costs less.
Will it matter? 🎲🎲
The practice of NFP fuzzy math with later revisions has been well understood by institutional traders for several election cycles. It’s the economy, stupid. It’s done regardless which political party is in control of the executive and judiciary branches of government. I understand that most people are unaware of this, but the point is that it doesn’t really matter. Asset prices will continue their upward trend over the next 12 months or so, and anyone who fades this market or spreads FUD because of political posturing is a pawn.