March – 143,000 jobs created which was way below expectation.
April – 77,000 jobs created which was way (way) below expectation.
May – 69,000 jobs were created which is practically a catastrophe.
The numbers and the trend are all going the wrong way. The “experts” are still all surprised. After 12 years nobody should be surprised.
Ian Shepherdson, chief U.S. economist of High Frequency Economics, summed up the report in three words: "This is horrible."
Meanwhile the Stock Market is tanking because all the geniuses on Wall Street still don’t understand that if everything (in every store) says “Made in China” that means there will be no jobs here in the USA. If all the white collar jobs are done in Bangalore India then there will be no jobs here in the USA.
These are very tough concepts for the “experts”. They struggle with the comprehension of it.
There was renewed speculation that the Federal Reserve might try new measures to stimulate the economy,
What is the Fed going to do that already hasn’t been done over the last 12 years????? Interest rates are at ZERO. They have been at zero for YEARS. They have pumped 800 Billion in Stimulus. They gave 1 Trillion in Tax cuts for the rich. They did $300 checks to everyone in the country. They did multiple wars with hundreds of billions in spending. They spent 15 Trillion in National Debt. The did “Qantitative Easing” multiple times. Republicans tried fixing it and failed. Democrats tried fixing it and failed.
They have done everything you can possible do the prop up the economy. But at the end of the day everything still says “Made in China”. So they can keep chasing their tale round and round and round but it aint going to make a lick of difference.
If a psychiatrist were to analyze the situation he would call it living in denial.