My day is ruined...or at least its off to a rough start. For you, my dear reader, I again subjected myself to about 30 minutes of uninterrupted CNBS. Just brutal. "It's the first Friday of the month so, once again, we present 'The Coug from Mesirow' and 'The Keynesian Shill from Moodys'". This is simply amazing. Every freaking month they roll these two morons out and every freaking month their expectations overstate the actual number by 50-100%. Then, when the lousy numbers are actually reported, they back-track, waffle and obfuscate their way through the data. What a joke!
The point is this: In their attempts to sustain the unsustainable Ponzi, the U.S. government so blatantly and completely distorts their "official" statistics that no one...I mean NO ONE...can understand or predict them anymore. As much as I dislike LIESman, The Coug and The Shill, they are trained economists. Y0u would expect them to be able to explain how and why the numbers are what they are. But these people have no clue! Even the former Fed governor they dug up this morning seemed lost. Case in point:
The stated unemployment rate declined from 9.8 to 9.4%. Hooray! But the BLS says that this is because about 500,000 workers came off the "unemployment rolls". OK. But the stated payroll number is only +100,000 or so. Hmmm. How does that work? There's 500,000 less "unemployed" working in only 100,000 new jobs. Huh??? Not only am I confused but LIESman et al stumbled all over themselves trying to figure it out.
You see, you can't figure it out! That's the whole idea! The "system" is designed to confuse. From the BLS BS to the GDP# to the CPI to the price of gold. All are manipulated in order to create the illusion of U.S. economic strength and prosperity. If the truth were known, even in small amounts, the U.S. would never, ever be able to carry its $14T debt load at an average duration of 5 years and average interest rate of 3.7%. The rate would be multiples higher and if it was, the entire welfare/military state Ponzi would collapse overnight.
Blah, blah, blah...I could go on but why? Its all bullshit. Protect yourself, your family and your friends. Buy gold, silver and land, if possible. The truth can only be hidden temporarily. In the end, facts and truth prevail. Maybe not today or tomorrow but soon. Soon.
Our precious PMs have rebounded from the butt-kicking they received overnight. Let's see if they can hold and close above the major/important support levels of 1365 and 28.50. If we do, no worries.
More later. TF
It's 10:20 and we are rolling higher! Let's squeeze those smarty-pant shorts. Let them see how it feels for once. Not to get carried away but...lets start hoping for an outside, upward reversal day...on a Friday, too! We'd need a close above $29.45 in March silver and $1377 in Feb gold. Last is 29.20 and 1373.
KEEP YOUR FINGERS AND TOES CROSSED!