Tell Me Why

IMG Auteur
Published : May 07th, 2012
225 words - Reading time : less than a minute
( 3 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
FOLLOW : Reality Recession
Category : Crisis Watch

 

 

 

 

I've published three charts (and numerous commentaries) over the past two months that suggested the U.S. labor market (and the economy more generally) is in worse shape than many on Wall Street, in Washington, and in the media would have us believe.


In "Not So Encouraging," I highlighted the fact that


a relatively sharp deceleration in the rate of productivity growth -- like we've seen recently -- has, except on two occasions over the past five decades, preceded or been associated with a slowdown in the pace of hiring.



In
"Divergent Reality," I posited that


there are only two explanations for the incredible divergence we've seen in recent years. Either 1) the payroll data or sentiment readings are highly suspect (as to which is more likely, I would note that only the former is compiled by the U.S. government); or, 2) the quality of the jobs that many people have nowadays is significantly less than it was before the recession "ended."



In
"Weak Equals Weak," I noted that


five decades of data suggest ("unexpectedly") weak durable goods orders will soon translate into ("unexpectedly") weak employment conditions.




And yet, despite these and other warning signs, economists were once again
surprised by data -- namely, this morning's jobs report -- that was anything but robust.


Tell me again: why are they considered the "experts"?


Michael J. Panzner 


 


<< Previous article
Rate : Average note :5 (3 votes)
>> Next article
Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
What Is the Correct Amount of Money?
20 Sepgfs543
If money is the heart of the economy, then the economies of the world are running with diseased hearts. Keynesians and other monetary intervention...
Pushback
20 SepGypsy
James, you're getting more difficult to read. As a Deplorable, I realize my under-education leaves me at a disadvantage when faced against the Mer...
Pushback
18 Sepdennyc3
If a university professor has been on the job for more than five years without venturing out into the world there's usually nothing to learn here. ...
Rude Awakening for the US in January? No, Just More Alarmist BS Fro...
18 SepDRGEORGE
The world & the US $ have been on the brink for 10 years (or more). In 2008 it nearly happened but giving the 1% a stack of money saved the day. It...
'No evidence' of gold market manipulation, CPM Group's Christian in...
15 Sepneville
Despite being a so-called GOLD website ,I have read more anti GOLD articles on kitco than on any other site. Yes chris you are absolutely corre...
Rude Awakening for the US in January? No, Just More Alarmist BS Fro...
15 SepSilverthumb2
I used to enjoy listening to Rickards. He sold out when he signed on with Agora Financial. Now he's just another ranting alarmist trying to get ri...
What's Killing the Jobs Market?
13 SepJ.0
It is hard to know where to begin to respond to your comment Recusant. You do not seem to understand how markets work. So, I'll throw out some po...
Rude Awakening for the US in January? No, Just More Alarmist BS Fro...
12 SepThe Recusant3
Oh, pish, Mish! Rickards has been spouting alarms for years. It's China and Russia that we must worry about sinking the dollar as the international...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS