Today’s Jobs Report – Cloudy With A Chance Of More Obama Songs!

dominos

Two things came out of today's bad news. The threat of a constricting labor force and the promise of the Fed potentially backing off the threat of an impending rate hike come September. But really... This is sorta like drinking a diet pop with a doughnut in hopes of negating the calories.

Here's my concern with all that is transpiring. We are being financially affected daily with world news. The Greek bail out, the ongoing ISIS rampage, etc... We are the greatest Nation on Earth and none of this literally has a direct tie in to our financial markets, never has, shouldn't now. However... We have a new breed of investor now. S/he is your typical Casino High Roller gone Stock Market. Gone are the stable long term investors; the level headed money. They now all run at the hint of loss. Bleeders are taking over now and along with automated shorting systems, etc... The average Joe is struggling to make a buck.

Our POTUS and SCOTUS also have a bearing on the health and welfare of this great Country. They can make it or break it and break it they are trying to do so. Each and every time our markets rebound and labor is up... Darryl and his other brother Darryl pop out with a buzzkill maneuver. Be it catering to the 14% of African Americans in the Country as if the whole of the USA were behind their swarthy moves or the even less in numbers Gay Pride issue, their timing is impeccable when it comes to killing momentum. If and when that doesn't work, launch some lawsuits against big industry and kill it for awhile. Shut down coal and natural gas and offshore drilling and pipeline prospects, airline industry and what do you have? Every Corner stone of our foundation under attack from all sides from our OWN Government.

And I ask you... Is this how you want your America to die? Is this what you wish to leave as your legacy to your children?

I refuse to sugar coat this as other sites have chosen to do by attempting to offset the reality with sprinkles of sugar scraped up from the corners of the pantry.

Oil and Fracking industry saa-lammbasted
Schlumberger, Baker Hughes and Halliburton, have announced thousands of job cuts after a more than 60 percent plunge in crude oil prices last year.

Non-Farm Payroll - down

Mining sector - down
The sector shed 18,000 jobs in May. Then lost 3,000 more jobs because of layoffs in the energy industry.

Overall labor force - down
The numbers of those employed or even looking for work fell to the lowest reading since October 1977. Congratulation to Obama from Jimmy Carter are in order.

The dollar fell against foreign currencies.

But you know what didn't fall?

Minimum wage - Yep... It's UP.
State and local governments have raised it.

Average hourly earnings - UP Too!
Increased 2.0 percent in the 12 months through June

Construction remained unchanged.
Bernard Baumohl, chief global economist stated the following:"With housing showing so much forward momentum, we find it hard to accept that not a single net new person was hired in the construction industry," said

And lastly... Drumroll, please.... Government employment unchanged.

I ask you... Who runs a Country like this?



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