Wednesday, February 2, 2022

BEST ECONOMY EVER!

More good economic news...



Instead of adding jobs, it went the other way....

Companies shed 301,000 jobs last month, sharply missing the 207,000-job gain that economists surveyed by Refinitiv had predicted and a major drop from the downwardly revised gain of 776,000 in December. It marked the first time that ADP reported negative growth since December 2021, when companies shed 123,000 jobs before the vaccines were available. 

Economists were only off by half a million jobs. Solid work boys! I am sure Jen Psaki will be on the air to tell us why losing jobs is actually a sign of a healthy economy, just like raging inflation is great for working people. 

In other positive news


$30,000,000,000,000

That is a number so huge as to be meaningless but that has been the case many trillions ago. All of that "debt" represent made-up "money" that has been fueling our consumption based economy for a very long time. How long can an economy survive when you don't make anything and it only survives by buying cheap consumer goods with debt? We are all going to find out, probably sooner rather than later.

2 comments:

  1. save dollars at your own risk. this has all the look like it all will be worthless soon.
    I always said that "stuff" is better than money. there where times in my life where I had money and no food. having food and no money is a lot better. started working a very long time ago, made like 10 bucks a day under the table doing concrete work. hard, hot and dirty, but it paid well for a kid.
    back then, I could get a pair of levi jeans for 7 bucks or so. timberland work boots for 10-12 bucks for their best work boots.and they where made in this country too. now ?I have no idea what USA made jeans go for. and as far as usa made boots ? look at the price of danner boots.
    some french guy wrote a long time ago that all paper money returns to its base value- paper and ink.
    I know enough history tp know all paper money goes that way in time. so. I bought stuff with my paper money. tools, good tools keep their value and then some. a lot of the machine tools I bought I can sell for more than double what I paid for them. besides the fact of all the use I gotten from them. these days any extra cash goes to stocking up more food items. doesn't pay to keep large amounts of cash in the bank anymore.as far as the end of the dollar goes, it more of when rather than if at this point. silver coins are good to have as people know they are money, gold not so much in my view. if it gets really bad, people will swap a gold coin for a meal if they starving.
    back in the 1960's my grandfather talked about how worthless the dollar had become then.if he could only see it now.

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    Replies
    1. A little bit of cash on hand is smart but tangible assets are far better.

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