by Jack
I was listening to the 6 a.m. news and the jobless numbers came out and I thought for sure the market was going to take a dump. Unemployment rose to 8.3 percent, that’s bad. The Institute for Supply Management’s index of U.S. non-manufacturing businesses, which covers about 90 percent of the economy, rose to 52.6 in July, beating estimates (okay news) and so the market went up 217 points on the DOW?
I dunno, seems foolish when so many things in the economy are not healthy.
PS I was visiting my son and daughter-in-law last night when I asked if I could borrow a newspaper. ‘This is the 21st century, old man,’ he said. ‘We don’t waste money on newspapers. Here dad, you can borrow my IPad.’ I can tell you, that #$%@ fly never knew what hit it…!
That was a good one! Almost as good as the MSM trying to paint a big happy face on the newest jobs and employment numbers. In a week or two those numbers will be revised and as usual both will go in the wrong direction. Also as usual when those new numbers come out the MSM will go out of its way not to report them.