North American economy in retreat

I know it is summer, fishing and vacation, but did anyone see that last BS job numbers???

For June USA say 287,000 jobs, but they kill the May number down to 11,000

Average of the 2 numbers is 149,000 - pretty sad and how desperate are they to create a headline number??

Turk says Banks drowing in bad debt, especially Europe, 18% of loans at Italian Banks not performing kingworldnews.com/the-world-is-headed-fo...eres-the-scary-part/

World Bank now projects U.S. growth at only 1.9% vs. 2.7% previously; Japan at 0.5%, down a full 100 basis points since the January projection.Chinese growth, however, is still estimated at 6.7%.

Like all official dome they always chase reality downwards and are too optomistic, but they also concerned Fed raises rates too quick

www.marketwatch.com/story/world-bank-tri...-forecast-2016-06-07

Mervyn King, the former head of the Bank of England, writes of central banks’ frustration in dealing with the stagnant global economy. “Central banks,” he says, “have thrown everything at their economies, and yet the results have been disappointing, Whatever can be said about the world recovery since the crisis, it has been neither strong, nor sustainable, nor balanced.”

www.usagold.com/cpmforum/2016/06/07/form...ting-gold-ownership/

More and more around the world, US data loses credibility

Egon von Greyerz: “On Friday we had another set of figures which although fake, still shocked the financial world. Non-farm payroll increased by only 38,000, massively lower than any forecast. But add to that 244,000 fictitious jobs created and 484,000 workers which were forced to go from full time to part time work, then we get to a reduction in full time jobs of 690,000!…

kingworldnews.com/legend-warns-crisis-is...-be-nowhere-to-hide/

Pretty dismal employment report today at just 38,000 and they still had to use near record high amounts of job creation with the magical birth death rate model - 224,000 what a joke
www.bls.gov/web/empsit/cesbd.htm

They used one of their other common tricks to and revised March and April downwards by 59,000 jobs

money.cnn.com/2016/06/03/news/economy/us...section=money_latest

Seems stupid they would consider a rate hike when bankruptcy and defaults are on a new uptrend and moving beyond commodities and oil - into retail and consumer companies , check this Bloomberg peice


www.bloomberg.com/news/articles/2016-05-...-outside-commodities

And check this out, markest up big today and Bullard pipes up about a rate hike

www.cnbc.com/2016/05/24/st-louis-fed-pre...-data-favorable.html

I agree, I think they just flashed an ace to see what the table would do. They know and we know the economy is the shits, but raising rates won't matter there

I think they more worried about the stock market, it was getting close to last years highs, so a good time to float a bluff out there and see what happems

Amazing one week later and they talking about a rate hike. I smell a bluff

Wow, I seen that too and was going to post it here but you beat me to it.

Just amazing how the FED has been masking an economy in severe decline when they know better.

“You are more likely to hear from your buddy that he is on Viagra than that he has credit-card problems,” says Brad Klontz, a financial psychologist who teaches at Creighton University in Omaha, Nebraska, and ministers to individuals with financial issues. “Much more likely.”


And how the world has changed, we feel better talking about sex than money - Well I guess they related ha ha!!

Oh, here is the link to that article
www.theatlantic.com/magazine/archive/201...secret-shame/476415/