The Fed money pumping spigot is on full blast in Silicon Valley and on the North East Coast.
The Fed is also blasting to differing degrees, money into the rest of the country.
Employment was up in all 51 metropolitan areas with a population of 1 million or more in February compared with a year earlier, the Labor Department reports..
Silicon Valley’s San Jose-Sunnyvale-Santa Clara metro saw the biggest West Coast surge in employment, with area payrolls growing 5.4%. San Francisco-Oakland-Hayward, CA experienced a 4.5% climb.
Things were also booming on the East Coast. The Boston-Cambridge-Nashua, MA-NH area saw gains of 4.8% and the New York-Newark-Jersey City, NY-NJ-PA area exploded with a gain of 6.5%.
NOTE: This is not a natural boom, it is a Fed created boom. This will not end well, but for now, while there is music, go ahead and dance.
-RW
(via WSJ)
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