Sarah Bloom Raskin (Federal Reserve Governor) stopped by a jobs fair in Washington DC and got a dose of economic reality with the extremely poor state of the American jobs market.
http://www.huffingtonpost.com/2013/06/04/federal-reserve-inequality_n_3386877.html
Of course you do not have to visit a jobs fair to know that there are 553,000 more people that don't have a job than at the start of the year, or that disposable incomes are down over $50bn so far this year.
http://ian56.blogspot.co.uk/2013/05/the-relentless-decline-in-disposable.html
Or to know that the US is on the brink of a major recession.
http://www.demeadville.com/baro.html
http://ian56.blogspot.co.uk/2013/03/the-multiple-factors-that-will-send-us.html
Unless of course you are a Federal Reserve Governor with your head stuck in an ivory tower.
May's NFP payroll numbers come out tomorrow and they are likely to severely disappoint the voodoo economists.
Consensus is 167,000.
Voodoo economists do not look at the numbers behind the headlines either.
This will likely put an end to all talk of Fed tapering (reductions in the $1tn of printing the Fed is now doing a year).
The stock market will probably (briefly) rise on the news (this is not a recommendation to bet either way).
But it will not put an end to the economic reality, that there is no real economic recovery, it is just an illusion created by the world's largest Ponzi scheme (Fed printing), media hype by ignorant financial "reporters" and outright lies put out by the big banks so that they can make money.
It will also not put an end to the fact that a major and prolonged recession is close at end, caused by Federal Reserve and government policies.
If you wanted to turn the American economy around and improve things, you would have to do this.
http://ian56.blogspot.co.uk/2013/05/how-to-fix-americas-economy-create-jobs.html
But it will be a cold day in hell before anything like that happens.
Nobody is even discussing it.
Instead we have Bernankonomics.
Japan's stock and bond markets are already crashing from this approach.
It won't be too long before the American markets are crashing too.
http://ian56.blogspot.co.uk/2013/05/evidence-is-building-that-federal.html
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