Unemployment down, which means the stock market should go up...err go down. Almost 200 points down today thus far...yes good times are here. Wenzel, do you recomend people should steer a car foward while staring at the rear view, because hey...the coast looks clear looking at my rear view.
Unemployment going down does not mean stock market goes up. Unemployment going down makes a rate hike more likely which makes the stock market go down. Probability of a rate hike increased on the Federal Funds future market.
Please comment on Peter Schiff's point that part time jobs (encouraged by Obamacare) are being counted at full time jobs so these numbers are not comparable to before Obamacare.
Part time jobs are not being counted as full time jobs. http://www.bls.gov/news.release/empsit.t08.htm
Don't employers only lay off employees once they realize they had made a malinvestment in labor and mis-anticipated consumer demand and purchasing power? What about the argument that this is a lagging indicator? I understand the money supply issue but the data seems quite terrible aside from jobs? You're no fool Wenzel, and you've demonstrated this with your on point analytics and fundamental understanding of the business cycle. How could you better help us to understand your position here?
I find the labour participation rate to be much more informative. And by any standard it is abysmal in U.S terms. Some of the other commenters mentioned part time jobs which has also been symptomatic of this so called recovery. I've started to lose faith in many of Wenzels predictions and or economic articles. The man's creds for free market's are untouchable but I don't think he takes enough factors into his analysis to form a solid opinion of markets, his sole argument seems to be money supply, which I find good but lacking in depth and explaining why the globe is deflating in many sectors despite massive monetary stimulus, or money creation.